Morning Business Report: Retailers are making returns more difficult

For online retailers, returns are one of the biggest profit drains. To minimize their losses, businesses are now making the return process more difficult. The Wall Street Journal reports that there are a few common tactics used to discourage returns. These include shortening return windows, increasing mail fees, and offering customers discounts. The average cost to process $100 of returned merchandise is about $26.50, according to Narvar. By cutting returns in half, retailers could see an increase in profits of about 25%.

Between the high prices of essentials, particularly food and housing, and the soaring cost of energy bills, folks are struggling to pay on time. As of March, nearly 20 million households are behind on their energy bills. That’s up from 17.6 million last year, according to the National Energy Assistance Directors Association.

Stocks fell again Tuesday. While most analysts believe a debt ceiling deal will be reached, the deadline is just a week or so away. Some money is being taken off the table, in case the unexpected happens and the U.S. defaults on debt.

Bud Light may have to drop the price of a case of beer to under $5. Sales of Bud Light continue to drop after controversy over working with a transgender influencer. The company’s sales were down 28% percent last week.

Peloton aims to rebrand as a fitness company for everyone. It is introducing a new tiered pricing structure for its digital app that includes a free membership option.