Online shopping may be easy, but making returns for those simple purchases can be a real headache. At least 30 percent of all products ordered online are returned compared to around 9 percent in brick-and-mortar stores, according to Ecommerce. It's a phenomenon costing retailers billions. Recognizing the problem Happy Returns is on a mission to streamline the process for consumers, making refunds faster and more efficient.
"Today when you buy a product online, you have to box it up. Often, you have to print out a shipping label, tape it together, go to the post office," said Mark Geller, COO and co-founder of the one year-old Santa Monica, California start-up. "And it can often be a delay of seven to 10 days before you actually get your money."