Welcome to Extreme Investor Network, where we provide unique insights and valuable information on all things personal finance. Today, we’re diving into the world of sustainable shopping and the environmental impact of online returns.
In the 1995 film “Clueless,” Alicia Silverstone’s character, Cher Horowitz, was known for her shopping habit. However, in real life, Silverstone takes a more sustainable approach to consumption. She never buys retail if she can help it, advocating for buying used items first. This mindset has led her to partner with eBay to promote Recommerce Day, encouraging people to buy preloved items.
The rise of online shopping during the pandemic has seen a surge in returns, with some consumers engaging in bracketing – buying multiple sizes or colors with the intention of returning some items. This practice has led to a significant environmental toll, with billions of dollars worth of merchandise being returned each year. Processing returns costs retailers an average of 30% of an item’s original price, highlighting the financial and environmental impact of this behavior.
To combat the issue, retailers have implemented stricter return policies, charging restocking fees, and shortening return windows. Some companies, like Amazon and Target, have even told customers to keep certain items rather than return them. However, the challenge of what to do with returned goods remains, with many items ending up in landfills and contributing to excessive carbon emissions.
Out of this returns problem emerges a liquidation boom, providing an opportunity for businesses like Kidsy to resell returned goods. Consumers can benefit from buying secondhand items, not only saving money but also reducing emissions and landfill waste. The recommerce industry is projected to grow significantly in the coming years, driven by a desire for value and sustainability.
At Extreme Investor Network, we believe in taking a sustainable approach to personal finance, including mindful consumption habits and investment decisions. Stay tuned for more valuable insights and tips to help you navigate the world of finance with confidence and knowledge. Subscribe to our newsletter for the latest updates and exclusive content. And remember, every purchase you make has an impact – choose wisely and invest in a sustainable future.