For many companies, few topics are more unpleasant to think about than product returns. And few topics are more crucial to the bottom line.
To understand why, consider this: From 2019 to last year, the rate of returns in the U.S. more than doubled to some 16.6% of retail sales—meaning $761 billion of goods were returned in 2021, according to the National Retail Federation and Appriss Retail. At the same time, returns are becoming more costly, with shipping and labor costs rising.
David Van Bruwaene was pursuing his Ph.D. in philosophy at Cornell when he developed a passion for linguistics and natural language processing, the subfiel
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