Return fraud is a growing problem in Canada and currently results in approximately $1.7 billion in annual retail losses. The Canadian Consumer Returns in the Retail Industry report provides valuable insights on the issue of return fraud in Canada, with the goal of helping retailers compare return-related information to improve their overall business processes.
Estimates for the Canadian retail market for return fraud and abuse are based on a combination of 2014 statistics published by the Retail Council of Canada (RCC) and estimates from similar surveys of U.S. retailers conducted by the National Retail Federation (NRF).
Highlights of this report include:
- Identifying Canadian retail industry return metrics – total return amounts, receipted/non-receipted percentages and various examples of fraudulent and abusive returns.
- Uncovering other shortfalls caused by return fraud; for example, lost sales taxes.
- Understanding current practices in the retail industry for processing merchandise returns, both brick and mortar and online.
- Generating industry discussion regarding best practices for accepting customer returns and controlling return fraud and abuse to maximize profits and minimize losses.