The National Retail Federation estimates that 17% of holiday purchases will be sent back. Andres Gutierrez reports on what happens to unwanted gifts after they're returned to retailers.

Miami

Following the holiday shopping season, retailers are now managing a large volume of returned gifts. According to the National Retail Federation, Americans are expected to return approximately $850 billion worth of items, with 17% of holiday purchases being sent back and 82% of unwanted gifts returned within a month.

Returned items may be restocked, refurbished, repaired, resold, or disposed of, each option impacting retailer profits. The process of handling returns, known as reverse logistics, is expensive and often leads to financial losses for retailers. To minimize future returns, retailers recommend giving gift cards or money, which are less likely to be returned.

What happens to your returned holiday gifts?

On the CBS Money Watch, the holiday shopping season is nearly over, but another big challenge for retailers is just beginning. Tis the season for returns. CBS's Andres Gutierrez in Burbank, California, with new reporting tonight on what happens to your unwanted gifts. Andres, what happens? Well, good evening, Jerica. We used to re-gift, now we return. At this UPS store, getting rid of presents is easy for customers, but for retailers, it's a hassle. From the season of giving, to the season of returning. What's the backstory with the holiday gifts? Holiday gifts, I ordered too much. Shipping and shopping centers are busy with customers. This year, Americans will return about $850 billion worth of items. Is this like equivalent to the Super Bowl kind of event, like how busy you guys get? Yeah, I would say this is the season we're busy the most. The National Retail Federation estimates 17% of holiday purchases will be sent back, and 82% will return unwanted gifts within a month. That was a gift from my brother, and when I turned it on, there was a black spot on the top of the screen. While it's convenient for customers, retailers face a tough decision. When I go and return something, where does it go from there? The retailer has to make a decision of its disposition. They can restock it, they can refurbish it, repair it, they can resell it, or they can dispose it. And those decisions impact the bottom line. It's very costly for retailers to manage the reverse logistics, the managing of returns. It becomes very expensive for them, and it's a losing proposition. Retailers want to avoid a rush of holiday returns next year and suggest that a gift card may be the best present. Jerika? Or money. No one's returning that. Andres Gutierrez, thank you.

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