Britain's high street retailers have faced a punishing couple of years, with rising rents, increased competition from online giants, and waning consumer confidence putting pressure on profits.
But another issue is adding to the high street's woes – the rise of so-called "serial returners", those who deliberately buy more items than they intend to keep and return them days later.
According to new figures from Barclaycard, a quarter of retailers have had an increase in returns over the last two years, with fashion brands particularly affected, with almost four in 10 reporting that refunds have risen.
This is resulting in a "phantom economy" of lost revenue worth £7bn for retailers, with sales coming...