LOS ANGELES (KNX) - If you were planning to return holiday gifts this year, it might cost you more than it has in the past.
Jonathan Palma, CEO of Loop, a company helping retailers save on return costs, tells KNX News many businesses that weren't before will now be charging for returns.
About 40% of Jonathan's clients opt to charge for refunds, which is nearly double that of the last 12 months.
When you add up the costs of free shipping to get the order to the customer and then free shipping for the return, Paloma says companies claim they are losing money.
Companies like Footlocker, JC Penney, RDI, and Zara are among the retailers that have started charging for returns.
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