The projected income by retailers in the 2011 holiday season is estimated to be $469 billion. That sounds like great news, until you consider that after the holidays, in late December and January, when consumers return those gifts that weren’t on their wish list. The hit on retailers? They will lose approximately $46.4 billion. How’s that for gratitude? High on the list of unwanted gifts is apparel (62%) followed by toys and games (16%), and electronics (14%). Returned personal electronics (due to buyer’s remorse or defective products) will cost manufacturers approximately $17 billion in 2011.
Sources: MarketTools, National Retail Federation, Accenture Research. As reported in Yahoo! Shine (12.23.11).