Dive Brief:

• Retailers were busiest with customer returns the day after Christmas at 2:15 p.m. Eastern Standard Time, according to research conducted by return optimization company The Retail Equation. 

• The highest rate of returns were just after Christmas; Dec. 26 saw returns at 2.5 times that during the holidays, and Dec. 27 saw double the holiday return rate.

• Ohio and Illinois had the highest rate of returns, at 22.7%, while in Hawaii the rate was the lowest at just 12.7%.

Dive Insight:

Retailers know that when it comes to holiday numbers, it’s not over until the returns come in. Return optimization company The Retail Equation took into account returns at 27,000 stores nationwide, and says that paying close attention to returns isn’t just about adding up the numbers, but also about discovering return fraud.

“These studies indicate that if a retailer takes actions to prevent return fraud and abuse, shrink can be reduced by a significant amount,” according to the report. “This suggests that paying close attention to returns is a powerful weapon to combat shrink.”