02:30:43 EDT Tue 01 Jul 2025
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USA
CA



Amazon.com CDRs (CAD Hedged)
Symbol AMZN
Shares Issued 27,050,000
Close 2025-01-29 C$ 28.14
Market Cap C$ 761,187,000
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Globe says Amazon "effect" blamed for excessive returns

2025-01-29 06:51 ET - In the News

The Globe and Mail reports in its Wednesday edition that wardrobing -- often pronounced "wardrobbing" -- is the practice of buying clothes to wear once or twice before returning them. The Globe's Mariya Postelnyak writes that the number of shoppers doing it has surged. According to returns-management company Optoro, which works with brands such as Gap and IKEA, 69 per cent of shoppers surveyed now admit to wardrobing -- a nearly 40-per-cent spike from 2023. Wardrobing is considered fraud by retailers. In the United States, returns cost businesses $890-billion (U.S.) last year, with returns now making up 17 per cent of all merchandise sales. Wardrobing peaks around big event seasons such as prom and the Christmas-new year holidays. Retailers and reverse-logistics companies are cracking down on the trend with new technology and subdividing shoppers to target excessive returns. Much of the wardrobing trend is blamed on the Amazon effect: Companies competing with the retail giant are compelled to deliver products faster and simplify returns, which opens the door to more abuse. Swedish fashion retailer Boozt made headlines in 2023 after it blocked 42,000 customers from buying on its website for returning too many purchases.

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