The Best Way for Retailers to Turn Superconsumers into the Gift that Keeps on Giving

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This article originally appeared in MarketWatch on December 15, 2016

The average American shopper will spend approximately $830 on gifts this holiday season, according to Gallup. That’s good news for retailers.

But the spending power of consumers also comes at a risk. According to one estimate, consumers could return $70 billion worth of products after Christmas. And since 25% to 50% of the value of returned products are non-recoupable, retailers could lose up to $35 billion in revenue.

Retailers are in a tough spot. It’s hard enough to anticipate what consumers want for themselves, and then entice them to make purchases. But, during the holiday season, their task in almost impossible: they must rely on gift givers to make the right decisions about the unique tastes and preferences of other consumers.

 

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