Every second-quarter retail comp you're about to read is bent in two directions, and almost nobody is saying so out loud. 6 retailers booked tariff refunds. Not one disclosed what portion went to price.
That is $25M of GMV coming back through the receiving door every year. If the operation restocks half of it, which is roughly where merchants without returns technology sit, $12.5M never goes back to full price
A bid target is not a ceiling the system tries to beat. It is a stated willingness to pay, and a bidder authorized to spend $10 per conversion has no obligation to keep returning $5.
