retail news in context, analysis with attitude

Bloomberg BusinessWeek reports on how a National Retail Federation (NRF) survey suggests that "return fraud cost retailers an estimated $8.9 billion in 2012, with nearly 30 percent occurring during the holiday season alone. Overall, the survey shows that about 4.6 percent of holiday returns are fraudulent ... Of the 60 retailers surveyed, 96.5 percent reported being ripped off by criminals who collected refunds for stolen items this year, and almost half said they’d received counterfeit receipts. Nearly two-thirds of the retailers said customers had returned items they’d worn or used."
KC's View:
I have to admit to being surprised that one survey said that while 10 percent of people admitted to buying something, wearing it and then returning it, 25 percent of people say they know people who have done it.


It is things like this that make me worry about society and the tearing of our cultural and ethical fabric. It is just plain and consciously wrong, and yet people do it.