Boozt Implements Ban on 60,000 Customers to Curb Excessive Returns

Boozt AB, a Nordic online retailer, has banned 60,000 customers for excessive returns, impacting 3.5 million total. This move aims to reduce costs and environmental waste associated with "serial returners." Blocking these customers is estimated to save the company millions, with the broader UK return costs projected to reach £7 billion by 2027. Boozt's shares have risen by 11% in the past year.