While shifting consumer behavior serves as a significant driver, it is not the sole contributor. The rise in ORC and shoplifting exacerbates returns fraud, with stolen merchandise often finding its way back into retailers’ returns systems.

Returns have always proven to be a consistent challenge for retailers. While the issue will never completely go away, retailers can minimize returns through technology. The question lies in understanding why items are being returned in the first place.

“As e-commerce evolves, gamification emerges as a crucial strategy for success. With the sector expected to grow significantly, companies that leverage interactive and engaging tactics are well-positioned to lead the market,” writes Kenneth Tan, Co-Founder and CEO of BeLive Technology

Despite a positive financial forecast for the industry, ecommerce business owners must not be complacent and instead leverage the growth in sales and shoppers by managing their finances properly. One way to do so is by implementing an account hierarchy for more organized financial reporting and analysis.