In a recent article, the U.S. Chamber of Commerce highlights how retailers are leveraging artificial intelligence (AI) to address the escalating costs associated with product returns, projected to reach $890 billion in 2024. AI aids retailers in several key areas: enhancing pre-purchase information to ensure customers select the right products, identifying "trusted buyers" to tailor return policies, streamlining logistics to determine the most cost-effective return methods, and minimizing fraud by detecting suspicious behaviors. By integrating AI into their operations, retailers can reduce return rates, optimize the handling of returned merchandise, and improve overall customer satisfaction.
