VMS

JANUARY 25, 2022

Retailers expect more than $761 billion in merchandise sold last year to be returned by consumers, according to a report released today by the National Retail Federation and Appriss Retail. This accounts for an average of 16.6 retail sales, which soared to $4.583 trillion in 2021. “As The 2021 total rate of returns (16.6

Returns 52

Returns Loss Prevention Payment Services Visual Merchandising 52

Inside Retail

MAY 2, 2021

Covid-19 hit the reset button on consumer behaviour. But it is not just the initial seismic shifts in consumer behaviour that have thrown down the gauntlet for retail. But it is not just the initial seismic shifts in consumer behaviour that have thrown down the gauntlet for retail. The answer is deceptively simple.

Consumer 200

Consumer Social Commerce Shopping Returns 200

Mass Relators

JANUARY 25, 2022

retail sales soared to $4.583 trillion in 2021. But a report released Tuesday by the National Retail Federation and Appriss Retail found that retailers expect more than $761 billion worth of the merchandise they sold last year to come back to their stores as returns. The 2021 total rate of returns (16.6%) is up from 10.6%

Returns 52

Returns Apparel Accounting Consumer 52

Retail TouchPoints

APRIL 8, 2021

Recently, however, something new has begun to drive massive growth in the used goods sector — consumers who are shopping based on their values , in addition to searching for value. It is this facet of the modern economy that consumers have begun to reject. The Fastest-Growing Channel in Retail’. “ fashion market this year alone.

Consumer 346

Consumer Fashion Apparel Returns 346

Retail TouchPoints

OCTOBER 11, 2022

increase over holiday 2021. increase last year, much of which was due to more shoppers returning to stores. In 2022, the impact of economic uncertainty, particularly in rising prices of non-discretionary expenditures like gas, food and housing, will rein in consumer spending. from 2021 and accounting for 16.3%

Apparel 260

Apparel Returns Promotions Accounting 260

Retail TouchPoints

DECEMBER 30, 2021

In 2020, consumers spent approximately $630 billion on online shopping, and merchants lost $12 billion to fraud. Account takeover fraud, which is driven by impostor scams, increased by 50%, with no signs of slowing down in 2021. Consumers in every age bracket are in fraudsters’ sights.

Merchant Services 264

Merchant Services Accounting Payment Services Returns 264

Retail TouchPoints

FEBRUARY 11, 2021

We’re going to skip any in-depth discussion of consumers’ ever-warming embrace of online shopping because it feels more “established than trending,” and because with limited space we want to cover what we believe are more intriguing developments for supply chain professionals. But the post must go on.

Retail Trends 228

Retail Trends Payment Services Supply Chain Management Fulfillment 228

Inside Retail

OCTOBER 11, 2021

With occupancy rates under pressure, shopping-centre landlords have already reviewed property valuations to account for tighter rent market conditions and financial concessions required to retain key retail brands. Myer online sales increased by 28 per cent, to $540 million, in FY21, accounting for 20 per cent of total group sales.

Shopping 130

Shopping Consumer Accounting Department Stores 130

Retail TouchPoints

MAY 17, 2021

With the speed of vaccine rollouts indicating that Zoom classes won’t be front and center for the new school year, the back-to-school (BTS) shopping season of 2021 will be unlike any other. This requires focusing efforts on reducing costly returns, stepping up personalization and improving operational efficiencies.

Shopping 166

Shopping Returns Apparel Consumer 166

Retail TouchPoints

MARCH 2, 2021

With the stakes for getting returns right continuing to rise, retailers have to focus on multiple elements including the customer’s return experience and streamlining reverse logistics systems (sometimes with the help of third parties). More Online Sales Means More Returns. The big driver? Retailers across the U.S.

Returns 279

Returns Merchant Services Drop-Shipping Consumer 279

Mass Relators

DECEMBER 14, 2022

WASHINGTON, December 14, 2022 – Consumers are expected to return more than $816 billion worth of retail merchandise purchased in 2022, according to a report released today by the National Retail Federation and Appriss Retail. As retail sales continue to grow, the average rate of return has remained flat at 16.5%

Returns 52

Returns Accounting Customer Experience Consumer 52

Retail TouchPoints

FEBRUARY 23, 2021

31, 2021 was $160 million , putting the company back in the black but still down significantly from the $340 million generated in the same quarter the previous year. 22 Macy’s announced plans to close 45 stores by mid-2021, according to CNBC , part of a previously announced plan to close 125 locations by 2023.

Department Stores 211

Department Stores Returns Jewelry Apparel 211

Retail TouchPoints

OCTOBER 4, 2021

Claire’s is already working to build on this momentum through the launch of its Cdrop subscription box service in September 2021. However, the brand has yet to return to profitability despite its growth. million in Q2 2021 on revenue of $356 million. As of July 2021, the retailer had 6.5

Jewelry 259

Jewelry Accessories Accounting Location 259

Retail TouchPoints

MARCH 8, 2021

2020 saw a huge upswing in email and online fraud affecting retailers, including spoofing of retailers’ websites, consumer account takeovers and fraudulent delivery of messages. That’s why we predict retailers will increase authentication efforts in 2021; and inbox providers agree. Wider use of authentication tools.

Marketing 150

Marketing Management Accounting Promotions 150

Inside Retail

JANUARY 31, 2023

Late last year brought a symbolic event in the athletic footwear business in China: it was the return of the Shanghai Marathon, scratched in 2021, which attracted a record 18,000 runners and was won, both in the men’s and women’s divisions, by Chinese athletes. Sometimes, that nationalism can rebound on the Chinese brands themselves.

Consumer 130

Consumer Apparel Fashion Outdoor 130

Retail Focus

MAY 27, 2021

As we enter the second quarter of 2021, the UK continues to live under social restrictions. billion market, while online stores accounted for £22.3 While shopping from home is both convenient and less time consuming, from an environmental point of view, this is has caused some damaging effects to the environment.

Shipping 130

Shipping Accounting Returns Consumer 130

Retail TouchPoints

JANUARY 16, 2024

According to data from ClearSale’s latest survey of consumer attitudes on ecommerce, fraud and CX, there’s a striking range of opinions about personalization among generations. Consumers in this age group are truly digitally native. Unlike their younger counterparts, Gen X consumers are merely open to personalized experiences.

Consumer 262

Consumer Customer Experience Shopping Accounting 262

Inside Retail

NOVEMBER 9, 2022

Retailers are potentially facing significant headwinds in the months ahead, with rising interest rates and cost-of-living pressures dragging on consumer confidence. per cent in the three months to September, compared with the same period in 2021. Credit bureau Equifax reports applications for credit cards grew 31.5

Payment Services 241

Payment Services Consumer Returns Accounting 241

Inside Retail

APRIL 15, 2021

Three prime ministers later and Britain quietly left the EU on 31 January 2021. So after months of people dying for a return to some normality (mostly in the form of freshly poured beer), queues started forming as early as 7am on Monday 12 th April as non-essential shops, hairdressers and pubs in the UK finally reopened their doors.

Returns 130

Returns Accounting Fashion Shopping 130

Mass Relators

JANUARY 24, 2022

consumer spending on general merchandise ended the year up 15% compared to 2020, with a 6% increase in unit sales. The fourth quarter of 2021 contributed 9% revenue growth and 1% unit growth over the prior year, according The NPD Group. PORT WASHINGTON, N.Y. –

Returns 52

Returns Consumer Accounting Shopping 52

Retail TouchPoints

NOVEMBER 17, 2021

On the one hand, retail sales trended upward in August 2021 , with specific economic stimulus measures apparently to credit. We know, based on our State of the In-Store Experience 2021 Report , that there remains strong consumer demand for brick-and-mortar retail experiences. trillion in retail sales in 2021.

Checkout 316

Checkout Customer Experience Shopping Returns 316

Retail TouchPoints

AUGUST 25, 2023

Every few decades, retail brands discover a new way to connect with consumers. The early 2000s saw the beginning of an online media push that brought standardized content from one brand to many consumers. Having a direct line with consumers via D2R provides brands with first-party retail data in a whole new way.

Consumer 234

Consumer Wholesale Marketing Returns 234

Retail TouchPoints

JULY 26, 2022

With rising gas prices, food shortages, skyrocketing interest rates and ever-present inflation, consumers are worried and that means retailers are worried, too. We’re already seeing online shopping demand level off , with consumers finding a new balance between digital and physical channels. Loyalty Shifts to Value.

Drop-Shipping 278

Drop-Shipping Fulfillment Consumer Shipping 278

Retail TouchPoints

AUGUST 5, 2022

Online fraud cost digital commerce merchants $27 billion in 2021 , so it’s no surprise that retailers have redoubled their focus on eliminating these threats. Media articles abound about the skyrocketing marketing dollars required to woo new consumers. This level of complexity often signals fraud to traditional detection tools.

Merchant Services 247

Merchant Services Returns Shipping Payment Services 247

Inside Retail

SEPTEMBER 26, 2022

Online sales, favoured during lockdowns, might have been expected to decrease as life returned to normal, however, the research showed the trend endured, accounting for 3 per cent of total sales in 2019 to 6 per cent in 2021. At the same time, this type of initiative fits post-Covid consumer craving for live interaction.

Department Stores 130

Department Stores Store Layout Fashion Returns 130

Mass Relators

JANUARY 24, 2022

prestige beauty industry generated $22 billion in 2021, a 30% increase in dollar sales, versus 2020, according to The NPD Group. By category, fragrance outperformed all others in 2021 with sales up 49%, year-over-year, followed by hair products (up 47%), makeup (up 23%), and skincare (up 18%). . – The U.S.

Returns 52

Returns Consumer Accounting Marketing 52

Retail TouchPoints

MAY 25, 2022

With increased personalization becoming more important to consumers, how can you strike the right balance between creating a bespoke experience and respecting your customers’ right to privacy? alone accounted for $870.8 billion in 2021, an increase of 14% on the previous year. Balancing Privacy and Personalization.

Accounting 281

Accounting Consumer Returns Marketing 281

Retail TouchPoints

JANUARY 20, 2023

Even more impressive, eMarketer expects it to nearly double, from $31 billion in 2021 to more than $61 billion by the end of 2024, when it will account for almost 20% of digital advertising spend. consumers spent $1.7 COVID-19 has only improved the business case. Amazon already does all that.

Advertising 261

Advertising Sporting Goods Boutique Returns 261

Retail TouchPoints

MARCH 24, 2021

A year of quick pivots for the retail industry, 2020 required brands to rapidly adjust their spaces to account for social distancing and the safety measures of consumers, staff and everyone in between. In order to lean into creating safer environments, we saw the rise of flexible fulfillment and contactless payments.

Payment Services 253

Payment Services Fulfillment Consumer Returns 253

Retail TouchPoints

MARCH 14, 2023

Big box leaders like Target and Walmart have recently revealed the sizeable impact retail theft has had on 2022 revenues, with Walmart’s CEO even threatening to close stores or be forced to raise prices on consumers if things don’t change soon. With repeat offenders accounting for 40.1%

Accounting 216

Accounting Returns Customer Experience Consumer 216

Retail TouchPoints

MARCH 3, 2022

billion on Cyber Monday 2020 , while Singles Day in November 2021 in China drove $139 billion in sales for two of that country’s major online shopping platforms. Account takeover fraud trends pose additional risks. However, account takeover (ATO) fraud has been steadily rising in recent years. Consider that in the U.S.,

Merchant Services 222

Merchant Services Drop-Shipping Payment Services Shipping 222

Inside Retail

DECEMBER 11, 2023

billion for the four day event this year marginally above the predictions ahead of both the 2021 and 2022 events. A welcome and timely boost for retailers, the Black Friday and Cyber Monday sales are expected to account for more than 25 per cent of all holiday purchases. Short-term gain for long-term pain?

Customer Experience 147

Customer Experience Promotions Returns Shopping 147

Inside Retail

MARCH 13, 2023

CBRE said events and the return of international students and tourists as well as a return of office workers would be positive drivers for CBD retail sales in the year ahead. Retail sales on the rise, but inflation a factor According to the Australian Bureau of Statistics, retail sales in Australia grew by 1.9 billion in January 2023.

Returns 244

Returns Location Planning Accounting 244

Inside Retail

APRIL 22, 2021

Now more than ever, it’s critical to understand the latest consumer expectations — and be ready to adapt. Direct-to-consumer selling. Around the world, direct-to-consumer (D2C) brands are becoming mainstream — and they’re causing a major shift in where, when and how shopping is done. Fulfilment of the future.

Fulfillment 299

Fulfillment Beauty and Health Advertising Accounting 299

Inside Retail

SEPTEMBER 6, 2023

“It’s far more likely, and cost effective, to cut out the retailer entirely and employ a direct-to-consumer model online, like we’ve seen automotive brands employing. Pre-owned watch sales reached US$22 billion in 2021, accounting for nearly one-third of the overall US$75 billion luxury watch market.

Marketing 264

Marketing ATS Accounting Consumer 264

Retail TouchPoints

AUGUST 15, 2022

Following several years of pandemic-driven declines, shoppers are eagerly returning to stores, and that enthusiasm is being echoed in a new upswing in store openings and lease signings. The pandemic caused unprecedented (to put it lightly) shifts in consumer patterns, not just in how they shopped but where. Have you heard the news?

Payment Services 207

Payment Services Returns Consumer Accounting 207

Inside Retail

FEBRUARY 20, 2023

per cent between December 2021 and November 2022. For consumers, there is a very strong desire to get out and enjoy life. per cent in September 2022 only slightly above 2019 levels and well down from the 2020 high of about 24 per cent, suggesting that the amount of dry powder in consumers wallets is declining. per cent in 2022.

Department Stores 246

Department Stores Returns Consumer Marketing 246