I was listening to the news a few nights ago and was disgusted at a story about return fraud. I had never heard of it but was shocked at how easy it is to do.
More shocking was the amount of money retailers say is lost because of return fraud: $14billion.
That is a LOT of money.
In this post it says it is between $9.6 billion and $16 billion.
Of course, we are paying for that in higher prices on what we buy, the cost of more security, audits, consultants, etc.
But how sad is it that there is this underground industry to steal from stores (and from people who shop there)?
Sad… of course, and not uncommon.
That is about 700,000 $20 shirts. Or 350,000 $40 pairs of jeans.
What a disgusting story that tells. This type of thinking is exactly what will lead to the demise of any society.