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PayPal To Buy Online Returns Start-Up In Its Latest Run At The Retail Shopping Space

PayPal has agreed to buy Happy Returns, a Santa Monica-based start-up that lets shoppers return items they bought online, in person. Executives say it’s a way to drive foot traffic to stores as the economy reopens, add value for businesses already using PayPal, and attract new customers. “The post-purchase experience is something we’ve been looking into, since it’s such a pain point — people want to shop online and return in store, and vice versa,” says Frank Keller, senior vice president of consumer in-store and digital commerce at PayPal.

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Store closures decline for the first time in 2021

For the first time in 2021, store closures have declined year over year, according to an emailed report from Coresight Research. The firm tracked 4,626 closures so far this year, 5.7% fewer than last