ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Happy Wednesday. This is Betty Lin-Fisher with today's top headlines. |
If online shopping is in your plans this holiday season, you'll want to know about this. |
About 40% of retailers are charging return fees this year, according to retail technology company Narvar. That's up from 31% in 2022 as companies work to improve profitability amid dwindling consumer demand and rising costs. |
While online retail giant Amazon is still offering free returns at most locations (they began charging $1 for some returns at some UPS stores earlier this year), other retailers are pulling back on free returns. |
Experts say more retailers are expected to experiment with paid returns, especially as broader economic challenges continue. | Leah Hollingsworth of Barrington carries an outgoing package to The UPS Store in Haddonfield on Saturday, November 11, 2023. CHRIS LACHALL/USA TODAY NETWORK ATLANTIC GROUP / USA TODAY NETWORK |
Electric vehicle sales hit the brakes |
Sales of Electric Vehicles (EVs) in the United States have slowed and inventories of the environmentally friendly vehicles are growing. |
EV inventories have increased by 506% from a year ago, with EVs sitting on lots for longer, according to CarGurus' October report , released this month. EVs sit on the market an average 82 days versus 64 days for gas-powered vehicles, it said. In response to slowing demand, automakers like Ford and GM are cutting production. |
Surveys say the cost of the electric vehicles is too high for consumers, even with government incentives. |
The average price paid in September for a new EV fell to $50,683, from $52,212 in August and $65,295 a year earlier, with incentives representing 9.8% of the transaction price, or $4,991, according to car buying platform Cox Automotive. |
But the new average EV list price was 28% higher than a gas vehicle last month, CarGurus said. |
📰 More stories you shouldn't miss 📰 |
Wendy's announced ealier this week that it has temporarily replaced its seasonal pumpkin spice Frosty with a peppermint Frosty. |
The peppermint Frosty arrived on Nov. 14 and will be around for a "limited time," according to Wendy's. |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Electric vehicle inventory continues to pile up despite generous tax breaks, price cuts and more selection. Here's why Americans won't charge in. | | | | A North Carolina pest company says it will pay you $2,500 to release 100 cockroaches into your home and study what happens. | | | | The retailer's new parent company WHP Global is trying to revive the iconic toy brand after Toys R Us declared bankruptcy in 2018. | | | | You can save money and have a more relaxed travel day if you fly on an actual holiday rather than the more popular week-of days. | | | | Disney World's new holiday event, Disney Jollywood Nights is nothing like Mickey's Very Merry Christmas Party. | | | | The peppermint Frosty is back at Wendy's restaurants nationwide starting Tuesday. Here's how to get one for free. | | | | The collection launched Tuesday and features Crocs shoes, socks and Jibbitz charms inspired by McDonald's characters. | | | | The Starbucks Workers Union is planning a walkout at hundreds of stores on Red Cup Day, the union announced Monday. | | | | Former Baltimore City police officer Kenneth Matthew from Laurel won $100,000 in part because he dislikes go-go music. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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