REDMOND, WASH. –
Same-day returns of TVs are on the upswing, according to the latest data provided by SIRAS.
The company, which provides point-of-sale product registration services to retailers and manufacturers, said same-day return attempts have increased vs. the prior period, which seems to be a growing problem for retailers.
When TWICE examined this product category six months ago, SIRAS president Peter Junger said that the rate had at least a couple of potential explanations: Consumers may have had technical difficulty installing or using the products, or it was possible that dishonest activity was taking place, such as attempted returns of merchandise that had been purchased with fraudulent tender.
The latest data from SIRAS, covering the 12-month period ending Aug. 31, 2010, shows a modest but statistically significant increase in date-of-purchase return attempts, to 14.2 percent. SIRAS’ last set of annual data showed return-attempt rate for TVs on the purchase date of 13.8 percent. (This rate is calculated based on the total number of return attempts of SIRAS-tracked products in that category for the one-year period).
According to Junger, the recent increase may be the result of the same factors from six months ago, or as new analysts suggests, it may be that shoppers often purchase the wrong size set and exchange it for different size model.
Whatever the reason, Junger said the elevated return rates lower retailers’ and manufacturers’ profits.