Thoth the Egyptian Ibis God
The Egyptian ibis god, Thoth is the god of knowledge, writing, wisdom, and scribes. Thoth was most often depicted as a man with the head of an ibis, but could sometimes be represented with the head of a baboon.
https://egyptian-history.com/blogs/egyptian-gods/thoth-god-ibis
WTH?
Just keep your returns: Stores weigh paying you not to bring back unwanted items
The chaotic mix of record fuel prices and an unending supply chain crisis have retailers considering the unthinkable: Instead of returning your unwanted items, just keep them.
In recent weeks, some of the biggest store chains, including Target, Walmart, Gap, American Eagle Outfitters and others have reported in their latest earnings calls that they have too much inventory of stuff ranging from workout clothes, spring-time jackets and hoodies to garden furniture and bulky kids' toys. It's costing them tons of money to store it.
Now add on to that glut another category of product that stores have to deal with: returns.
So instead of piling returned merchandise onto this growing inventory heap, stores are considering just handing customers their money back and letting them hang onto the stuff they don't want.
"It would be a smart strategic initiative," said Burt Flickinger, retail expert and managing director of retail consultancy Strategic Resource Group. "Retailers are stuck with excess inventory of unprecedented levels. They can't afford to take back even more of it."
Returned products are handled in a number of different ways, he said. Retailers take back merchandise from the customer, evaluate it, and if it's in good condition put it back on the shelf at the same or lesser price.
They can refurbish damaged returns and sell them for less or offload them to liquidators to resell. They also can sell returned products to foreign liquidators for sale in Europe, Canada or Mexico.
"Given the situation at the ports and the container shortages, sending product overseas isn't really an option," said Flickinger. Lastly, retailers can hire third party firms to handle all aspects of merchandise returns for them.
Each of these options, however, tack on additional costs for retailers, he said.
"For every dollar in sales, a retailer's net profit is between a cent to five cents. With returns, for every dollar in returned merchandise, it costs a retailer between 15 cents to 30 cents to handle it," said Flickinger.
There is one other option for retailers to address returns while avoiding more product bloat and that's to consider a 'returnless return,' said Steve Rop, chief operating officer with goTRG, a firm that processes over 100 million returned items annually for companies like Wal-Mart, Amazon and Lowe's.
https://www.koat.com/article/stores-weigh-paying-bring-back-unwanted-items/40427246