October was a busy month for reverse logistics firm Happy Returns.

In mid-month, it issued an interesting report on retail returns trends based on a survey of both on-line only and omnichannel retailers.

That report included the graphic below, showing return rates on purchases by various increments:

Source: Happy Returns

Notably, there was a big jump in the percent of retailers indicating returns rates of 21-30%, rising from 15% in 2022 to 47% in the 2023 survey.

But Happy Returns had bigger news late last week, announcing UPS was acquiring the company from current owner PayPal for an undisclosed sum.

What is UPS getting?

The assets including a returns software platform and extensive returns network.

The way Happy Returns works is a customer brings the item he or she wants to return to one of their drop-off locations, then shows them a QR code and they’ll take it from there.

A customer does not have to worry about boxing it back up, or putting a label on it.

Happy Returns has more than 10,000 drop-off locations. UPS is also adding box-free, label-free returns to its network of UPS Stores.

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