Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

How Do Returned Goods Affect Gdp?

Recommended Posts

I've just taken back a CD/Radio I bought last August as it didn't like track 3 on any of my CD's, no matter what the CD it would go 1,2,4 and miss out track 3.

Very annoying when listening to mixed CD's.

So how does this affect GDP if I take a faulty good back, does the replacement get counted as a new sale in terms of figures etc...

The TV I just bought I have also sent back because it was faulty, so does that now count 2 TV's sold in the GDP figures?

If they do count towards GDP figures surely the govt must encourage everyone to take back faulty items to improve GDP?

Share this post


Link to post
Share on other sites
I've just taken back a CD/Radio I bought last August as it didn't like track 3 on any of my CD's, no matter what the CD it would go 1,2,4 and miss out track 3.

Very annoying when listening to mixed CD's.

So how does this affect GDP if I take a faulty good back, does the replacement get counted as a new sale in terms of figures etc...

The TV I just bought I have also sent back because it was faulty, so does that now count 2 TV's sold in the GDP figures?

If they do count towards GDP figures surely the govt must encourage everyone to take back faulty items to improve GDP?

TBH I think your missing that ONS statistics compilations are more erratic than those played by the CD radio you've just returned.

All finger in the air and GIGO.

Share this post


Link to post
Share on other sites
I'm about to return the replacement as well because the LCD is doesn't work.

Cheap piece of crap.

not only would it add for the replacement, but the return would be an export as well. :P

Share this post


Link to post
Share on other sites

Please do not give Gordon/Mandy further ideas re snooping on the population to see who hands goods back. We know they would do it if they could. In any case what does happen to that stuff that doesnt work ,does it get crushed or returned to China to be fixed

Share this post


Link to post
Share on other sites

Not sure if a returned good counts as a transaction in the GDP figures, but it is worth noting for those who are unaware, the GDP stats count nothing but transactions so if we all buy something and sell it back they will record it as growth. It's all about velocity. High velocity does not affect prices, only GDP... but the GDP stats are influenced by the price of money because they fail to properly deduct inflation, which leaves GDP being recorded as too high.

Share this post


Link to post
Share on other sites
Please do not give Gordon/Mandy further ideas re snooping on the population to see who hands goods back. We know they would do it if they could. In any case what does happen to that stuff that doesnt work ,does it get crushed or returned to China to be fixed

Various, could give a long tract but will try and give a quick summary.

-A lot of stuff is handled by a big Royal Mail depot in Swindon on behalf of retailers

-There are various firms that professionally repack stuff for resale - a firm in Wales does this with flatscreen TVs, a TV shopping channel then sells them to poor credit risk viewers on the tick. The TV cost the shopping channel so little it doesn't matter if the customers stop paying. A surprising amount of reworked stuff goes back in the system, quite a bit of reworking is done by retailers these days and suppliers. We rework stuff and sell it on ebay as shrinkwrapped in box, obviously we've done the shrinkwrapping. Stuff is fixed by suppliers if it's a known/common production problem like a wire that needs resoldering but anything that would require extensive fault-finding is scrapped.

-A very large amount of customer returns are simply buyer remorse and there's nothing wrong with them other than damaged packaging.

-Quite a few places sell off job lot pallets of mixed catalogue returns that are unworked these generally end up on market stalls, ebay or export. As long as you knew the pallets were virgin returns you can probably do quite well on them because a lot isn't faulty.

-Anything that absolute junk goes to be 'recyclec' this is done by shipping it to China where they then probably incinerate/landfill or dispose of it in some other environmentally unfriendly manner.

Share this post


Link to post
Share on other sites

The lcd problem appears to have cleared up although this one has the same problem as the previous one it misses out the 3rd track no matter where you start from.

Start at 4, you'll get 4,5,7

Start at 8, you'll get 8,9,11

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   285 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.