Accounting, Returns and Shopping - Experience Retail Today

NRF: Returns Reach 14.5% of Sales in 2023, Fraud Contributed $101 Billion in Losses

Retail TouchPoints

DECEMBER 27, 2023

Returns totaled $743 billion in 2023, amounting to 14.5% This means that for every $1 billion in sales, the average retailer incurred $145 million in merchandise returns. As is typically the case, online sales saw a higher return rate in 2023 at 17.6% As is typically the case, online sales saw a higher return rate in 2023 at 17.6%

Returns

Returns Accounting Shopping ATS

Serial Returners and Refund Fraudsters: How Brands are Fighting Back With Data Insight

Retail TouchPoints

OCTOBER 18, 2023

Online return fraud cost U.S. For every $100 in returned merchandise accepted, U.S. to return fraud, the NRF has calculated. While it is possible for shoppers to commit return fraud innocently simply by mis-reading the returns policy, a significant number of returns are the result of premeditation and malicious intent.

Returns

Returns Payment Services Shipping Accounting

Treat Returns as a Competitive Advantage that Increases Customer Lifetime Value

Retail TouchPoints

APRIL 29, 2022

Ecommerce returns are the new reality for retailers, but their rapid rise doesn’t have to crush conversion rates and profitability. Consider how returns are central to the customer experience and can create a competitive advantage, differentiate a brand and increase customer lifetime value. Turn Returns Upside Down.

Returns

Returns Merchant Services Drop-Shipping Shipping

Webinars

Turn Payments Into Personalization: Unlock the Value of Transaction Data

MORE WEBINARS

Tackling the Growing Problem of Fashion Returns Earlier in the Supply Chain

Retail TouchPoints

MAY 30, 2022

While ecommerce was already on the rise prior to the COVID-19 pandemic, the historic shift in customer expectations and behaviors fueled the explosive growth of online shopping. A huge part of retaining customers is having a return policy that is clear and concise, giving customers the security they expect and want.

Returns

Returns Fashion Supply Chain Management Shopping

Target to Add Starbucks, Returns and Additional Backup Items to BOPIS Options

Retail TouchPoints

FEBRUARY 23, 2022

Target is planning to enhance its same-day pickup options in fall 2022 with two additional options: shoppers can add Starbucks items to any order and make returns during curbside pickup transactions. Curbside returns will follow a similar procedure.

Returns

Returns Fulfillment Accounting Shopping

When Customers Aren’t Holiday Shopping, They’ll be Streaming

Retail TouchPoints

NOVEMBER 21, 2023

When customers aren’t actively searching and shopping for gifts, they are spending an elevated amount of time watching their favorite TV shows and movies — especially holiday classics like How the Grinch Stole Christmas and Elf. In many ways, the same trends we see in consumers’ Q4 shopping behaviors mirror their TV viewership.

Shopping

Shopping Specialty Retailers Consumer Department Stores

How Returns Drag Down Sustainability Efforts (and what Retailers can do About it)

Retail TouchPoints

MAY 11, 2021

It’s becoming increasingly clear that returns have costs that go well beyond the financial. 5 billion pounds of returned goods end up in landfills and 15 million metric tons of carbon dioxide are emitted in the transportation of returns, according to research conducted by reverse logistics solution provider Optoro.

Returns

Returns Consumer Shopping Accounting

One in 10: How retailers can navigate the looming threat of “returns fraud”

Inside Retail

AUGUST 9, 2023

Returns present a complex challenge for retailers of all sizes, not only contributing to their carbon footprint, but also eroding their profit due to the cost of managing and paying for reverse logistics and, in some cases, leading to fraud. Meanwhile, the use of returns by customers continues to grow in popularity.

Returns

Returns Customer Retention Accounting Fashion

A century after debut, UK music store HMV makes Oxford Street return

Inside Retail

NOVEMBER 23, 2023

British music store HMV will on Black Friday return to its former flagship store on London’s Oxford Street after a four-year absence, offering vinyl, clothing and merchandise in a vote of confidence for physical stores in an increasingly online age. Now, thanks to a more favourable rent and business rates package, HMV is coming home.

Returns

Returns Accessories Accounting Marketing

How 99 Bikes plans to return to profit with an electric-powered push

Inside Retail

MARCH 26, 2024

Electric shock to profits The popularity of electric bikes and scooters has been a key driver of revenue for the business recently, with electric bikes accounting for 99 Bike’s biggest growth category. “We We want to be known as the world’s most approachable bike shop”. The company achieved an 82.6,

Returns

Returns Planning Specialty Retailers Customer Experience

Free Accounting Software for Small Business

Small Biz Trends

JUNE 14, 2022

Luckily, there are a number of accounting software tools that can help. Free Software for Your Small Business Accounting. Every accounting software for small businesses comes with its own set of features. Best Free Accounting Software. Let’s take a look at some of the best accounting software tools available.

Accounting

Accounting Payment Services Finance Management

Planning to sell online in the US? Here are some tactics to ensure success

Inside Retail

MARCH 19, 2024

Tara Daly, senior director of product marketing at Loop Returns , shares with Inside Retail advice on getting started in the US market, some tips on cross-border shipping and logistics – including managing returns in a way that builds customer loyalty – and how to drive repeat business. Begin with baby steps, she advocates.

Planning

Planning Shipping Returns Customer Retention

Holiday 2021 Wrap-Up: Safety Protocols and Early Shopping Led to a Successful Season

Retail TouchPoints

JANUARY 10, 2022

22, a 10% increase over last year, and retailers need to prepare themselves for the share of shoppers who prefer to make their returns at a brick-and-mortar store. 22, a 10% increase over last year, and retailers need to prepare themselves for the share of shoppers who prefer to make their returns at a brick-and-mortar store.

Shopping

Shopping Drop-Shipping Returns Shipping

The Iconic launches brand campaign following fraud scandal

Inside Retail

FEBRUARY 19, 2024

The Iconic has launched a new branding campaign over a month after the online fashion retailer found itself in defence mode due to fraudulent transactions made via customers’ accounts. ” In January, The Iconic committed to refunding customers after fraudulent orders were made on their accounts. .

Accounting

Accounting Fashion Returns Shopping

Returns Go Digital – How Can Retailers Keep Customers Coming Back?

Retail TouchPoints

APRIL 6, 2021

Returns in the retail industry have always posed a challenge. A report from Statista estimated 2020 return delivery costs at $550 million, up 64% since 2017. In addition, the past decade has seen returns baked into the business model of several direct-to-consumer starts-ups, including Warby Parker, Stitch Fix and Zappos.

Returns

Returns Customer Experience Consumer Shopping

Harvey Nichols staff face redundancies as it eyes return to profitability

Retail Gazette

MARCH 20, 2024

Harvey Nichols’ support team faces impending redundancies as the business works on returning to profitability. He added that coming out of Covid “has been very difficult for the wider retail industry in the UK”, which faced increased inflation, cost pressures, and the loss of tax-free shopping.

Returns

Returns Department Stores Accounting Shopping

The Looming Spike In Returns Abuse

Retail TouchPoints

JUNE 10, 2020

Consumer-friendly and flexible return policies can be the difference between getting a new customer and losing a sale. According to proprietary research conducted by Forter, 23% of shoppers will abandon their carts if returns options are poor. Returns Abuse And Customer Expectations. This is amplified in some industries.

Returns

Returns Merchant Services Drop-Shipping Accessories

How Amazon Uses AI to Enhance Online Apparel Shopping

Retail TouchPoints

JANUARY 8, 2024

For brands, Amazon offers a Fit Insights Tool based on LLMs that contextualizes returns and size chart analyses with customer reviews and uses machine learning to identify defects in size charts. It also takes into account sizes bought — and kept — by similar customers for the same product or similarly fitting products.

Apparel

Apparel Beauty and Health Shopping Accounting

Building Loyalty Without Breaking the Bottom Line: the Dual Shipping Dilemma for Ecommerce Merchants

Retail TouchPoints

FEBRUARY 21, 2024

Online shopping is now easier than ever before, enabling consumers to purchase everything from socks to a dining room table from a computer at their home to a mobile phone in an airport terminal. The ease of online shopping also gives consumers the ability to comparison shop more quickly, showing them more options in less time.

Shipping

Shipping Drop-Shipping Returns Comparison Shopping

In Luxury Design, ‘Invisible’ Technology Supports the High-End Shopping Experience

Retail TouchPoints

JANUARY 26, 2022

D:R Consumers are now looking for a transformed shopping experience and ways to express themselves through the products they buy. Zaballero: This is more a question of how corporate communications can react to better support the customer shopping experience.

Shopping

Shopping Department Stores Accounting Returns

Back-to-school spending tipped to hit $2.5 billion

Inside Retail

JANUARY 18, 2024

billion in sales as students gear up to return to their classrooms. ARA CEO Paul Zahra said the expected BTS purchases appear to be high as shops seek to build momentum to start the year. ” The 35-49-year age bracket is expected to account for $1.6 ” The 35-49-year age bracket is expected to account for $1.6

Returns

Returns Accounting Shopping

Target to Spend $5B to Enhance Operations in 2022, Plans 250 More Ulta Beauty Shop-in-Shops

Retail TouchPoints

MARCH 3, 2022

Target has big plans for 2022, with the retailer announcing plans to invest up to $5 billion this year to open new stores, enhance its digital, fulfillment and supply chain capabilities, and expand its shop-in-shop concept with Ulta Beauty. and New York’s Times Square.

Payment Services

Payment Services Shopping Planning Fulfillment

Rebag, Newegg Join Growing List of Retailers Launching Membership Programs

Retail TouchPoints

APRIL 25, 2024

Rebag+ members also receive 10% lower prices on all items, access to weekly new arrivals and sales, free shipping and returns and up to 5% higher payouts when selling products. To join Newegg+, customers need to create an account or sign in to their Newegg account and then choose to enroll in Newegg+.

Shipping

Shipping Accounting Accessories Returns

American Express Shop Small returns

A1 Retail

JUNE 8, 2022

Just in time for summer, American Express is once again showing its support for local, small businesses across the UK with the return of the Shop Small Offer this June. They can search for participating businesses via the Shop Small Map. For full terms and conditions please visit the Shop Small Hub.

Returns

Returns Shopping Accounting Location

NRF Projects a 4% to 6% Sales Increase in 2023 as Consumers Recalibrate Shopping Patterns

Retail TouchPoints

MARCH 30, 2023

Retailers are prepared to serve consumers in the current economic environment by offering a range of products at affordable prices with great shopping experiences.” Top retailers are perfecting their approach toward omnichannel and studying shopping habits while also protecting their own bottom lines. trillion and $1.43

Consumer

Consumer Shopping Accounting Returns

Why Google’s Recent Shopping Blitz is as Much About Advertising as Ecommerce Expansion

Retail TouchPoints

JUNE 4, 2021

All of Google’s new partnerships share a common goal: making it easier for merchants using platforms like Shopify to feature their products on Google channels, including Search, Shopping, YouTube and Images. “We In fact, the company reports that users already shop across its platform more than 1 billion times every day.

Advertising

Advertising Merchant Services Shopping Checkout

Target taking curbside returns nationwide

Mass Relators

APRIL 26, 2023

is now offering curbside returns at about a quarter of its stores, with plans to be nationwide with the program by this summer. Customers will be able to start a return order online or in the Target app, the company says, and then notify the store when they are on the way. A confirmation email will confirm the transaction, Target says.

Returns

Returns Accounting Planning Shopping

How retailers can maximise returns during the upcoming sales season

Inside Retail

OCTOBER 21, 2021

James Johnson, director of technology services & strategic accounts, APAC at Shopify, says it is critical for Australian retailers to optimise their product offers and sales channels to make the most of the sales season and seize the opportunity to end a difficult year on a high. Readers can check out the Shopify Conversion Tool here. .

Returns

Returns Merchant Services Shipping Payment Services

It’s Time Retailers Give Customers What They Want: Online Shopping Without Passwords

Retail TouchPoints

JANUARY 3, 2022

billion, accounting for a record 18.9% Even worse, more than 87% of customers confirm they have been locked out of an online account due to too many failed login attempts. Industry studies report nearly 90% of consumers are less likely to return to a website after a poor user experience.

Merchant Services

Merchant Services Shopping Customer Experience Accounting

Mosaic plans 40 new mega stores after network cull spurs profit turnaround

Inside Retail

AUGUST 29, 2023

With that taken into account, comparable store sales rose by 9.6 The business realised that achieving a return to the pre-Covid era trading and profitability “required taking a leap forward rather than taking a step back”. This $33 million turnaround is not simply a result of customers returning to in-store shopping post the pandemic.”

Planning

Planning Apparel Accounting Returns

Opinion: Consumers’ screen times gives shopping centres a headache

Inside Retail

OCTOBER 11, 2021

Retail shopping centres face a major challenge rebuilding customer traffic and sales after the Covid-19 pandemic is controlled. 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.

Shopping

Shopping Consumer Accounting Department Stores

As sales soar, Mosaic Brands plans 130 more stores

Inside Retail

JANUARY 24, 2023

Trans-Tasman apparel retailer Mosaic Brands is set to open 130 new stores as customers return to in-store shopping. According to unaudited accounts for the half year to January 1, sales grew 23 per cent driven by strong trading momentum and a higher average transaction value.

Planning

Planning Returns Apparel Accounting

The rise of livestream shopping

Inside Retail

APRIL 28, 2021

From TV shopping channels to online shopping, videos have demonstrated that they are the best method to connect with customers at the convenience of their own home. There is definitely a trend towards shopping and entertainment coming together, but the platforms are not fully integrated yet,” Bush told Inside Retail.

Shopping

Shopping Outdoor Fashion Marketing

Myer reports sales lift despite economic challenges

Inside Retail

AUGUST 7, 2023

In a trading update issued today based on unaudited accounts, the company said it expects to report a 12.5 Online sales accounted for 20.5 per cent fall in FY23 reflected increased online shopping when physical stores were closed due to Covid-related restrictions during the previous comparable period.

Department Stores

Department Stores Accounting Returns Planning

6 Logistics Metrics that Determine a Brand’s Holiday Success or Struggle

Retail TouchPoints

OCTOBER 6, 2023

With the bustling holiday shopping season nearing, many brands have spent the last several months assessing their operational strengths and weaknesses, particularly in logistics and fulfillment. 4: Return rates. Returns are an inevitable part of retail. shoppers returned more — and earlier — than in the previous holiday season.

Fulfillment

Fulfillment Returns Shipping Promotions

Does Customer Age Matter for Fraud Prevention?

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. This approach can reduce fraud losses and improve the shopping experience for good customers.

Merchant Services

Merchant Services Accounting Payment Services Returns

Analysis: Has Brexit helped the UK return to recovery?

Inside Retail

APRIL 15, 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. The post Analysis: Has Brexit helped the UK return to recovery?

Returns

Returns Accounting Fashion Shopping

How AI can Help Retailers Make Ecommerce Profitable During 2021 Back-to-School Shopping and Beyond

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. To increase profit margins during the BTS shopping season and beyond, retailers need to find ways to reduce or offset ecommerce costs.

Shopping

Shopping Returns Apparel Consumer

Amazon Adds ‘Badge Pay’ to Just Walk Out Deployment in Georgia Hospital

Retail TouchPoints

JANUARY 12, 2024

The purchase amount is automatically deducted from the employee’s payroll account, a major benefit for doctors, nurses and other staff people who often don’t carry wallets or purses while they’re working. Employees can look up receipts and account balances in the hospital’s badge pay web portal or mobile app.

Payment Services

Payment Services Accounting Checkout Apparel

1 in 4 American Adults Have a Disability — Does Your Site Give Them a Great Shopping Experience?

Retail TouchPoints

FEBRUARY 16, 2022

billion annually, and retailers looking to earn their business need to make their shopping experience as pleasant as it is for any other customer. “ Make sure the “Sign In” and “Create an Account” links are easily located and can be recognized by a screen reader for visually impaired users.

Shopping

Shopping Checkout Accounting Shipping

Winning Over Baby Boomers with High-Quality Product Imagery

Retail TouchPoints

DECEMBER 26, 2023

It explores the distinct expectations of baby boomer consumers, including the significant influence of visual content on their shopping experience. The report reveals that 40% of baby boomers are highly unlikely to shop again at a retailer if a product does not align with its online image.

Returns

Returns Customer Experience Consumer Advertising

Navigating the e-commerce landscape: Insights for Australian retailers in 2024

Inside Retail

FEBRUARY 5, 2024

ShipStation, the multichannel, multi-carrier shipping, and fulfilment e-commerce platform, is poised to redefine the retail landscape, offering innovative features to streamline workflows and enhance the overall shopping experience. Think of Shipping Strategies as automated rate shopping, saving time and money.

Shipping

Shipping Fulfillment Returns Accounting

Victoria launches deposit scheme for Tetra Pak beverage cartons

Inside Retail

NOVEMBER 1, 2023

Victorians can now return their used Tetra Pak beverage cartons for recycling and receive a 10c refund following the launch of Victoria’s Container Deposit Scheme (CDS). “Ultimately, this will lead to better environmental outcomes across Victoria. .

Returns

Returns Supermarket Accounting Consumer

Keeping up with the Customers: How Retailers are Adapting to New Shopping Behaviors

Retail TouchPoints

MARCH 4, 2021

For example, establishing social distancing measures and offering contactless experiences for in-store shoppers, or expanding digital and mobile shopping options to include in-store or curbside pickup for online shoppers. Before the pandemic, this shopper preferred to shop in-store because it was a familiar and trusted experience.

Shopping

Shopping Grocer Accounting Store Operations

NRF: Returns Reach 14.5% of Sales in 2023, Fraud Contributed $101 Billion in Losses

Serial Returners and Refund Fraudsters: How Brands are Fighting Back With Data Insight

Webinars

Trending Sources

Treat Returns as a Competitive Advantage that Increases Customer Lifetime Value

Webinars

Tackling the Growing Problem of Fashion Returns Earlier in the Supply Chain

Target to Add Starbucks, Returns and Additional Backup Items to BOPIS Options

When Customers Aren’t Holiday Shopping, They’ll be Streaming

How Returns Drag Down Sustainability Efforts (and what Retailers can do About it)

One in 10: How retailers can navigate the looming threat of “returns fraud”

A century after debut, UK music store HMV makes Oxford Street return

How 99 Bikes plans to return to profit with an electric-powered push

Free Accounting Software for Small Business

Planning to sell online in the US? Here are some tactics to ensure success

Holiday 2021 Wrap-Up: Safety Protocols and Early Shopping Led to a Successful Season

The Iconic launches brand campaign following fraud scandal

Returns Go Digital – How Can Retailers Keep Customers Coming Back?

Harvey Nichols staff face redundancies as it eyes return to profitability

The Looming Spike In Returns Abuse

How Amazon Uses AI to Enhance Online Apparel Shopping

Building Loyalty Without Breaking the Bottom Line: the Dual Shipping Dilemma for Ecommerce Merchants

In Luxury Design, ‘Invisible’ Technology Supports the High-End Shopping Experience

Back-to-school spending tipped to hit $2.5 billion

Target to Spend $5B to Enhance Operations in 2022, Plans 250 More Ulta Beauty Shop-in-Shops

Rebag, Newegg Join Growing List of Retailers Launching Membership Programs

American Express Shop Small returns

NRF Projects a 4% to 6% Sales Increase in 2023 as Consumers Recalibrate Shopping Patterns

Why Google’s Recent Shopping Blitz is as Much About Advertising as Ecommerce Expansion

Target taking curbside returns nationwide

How retailers can maximise returns during the upcoming sales season

It’s Time Retailers Give Customers What They Want: Online Shopping Without Passwords

Mosaic plans 40 new mega stores after network cull spurs profit turnaround

Opinion: Consumers’ screen times gives shopping centres a headache

As sales soar, Mosaic Brands plans 130 more stores

The rise of livestream shopping

Myer reports sales lift despite economic challenges

6 Logistics Metrics that Determine a Brand’s Holiday Success or Struggle

Does Customer Age Matter for Fraud Prevention?

Analysis: Has Brexit helped the UK return to recovery?

How AI can Help Retailers Make Ecommerce Profitable During 2021 Back-to-School Shopping and Beyond

Amazon Adds ‘Badge Pay’ to Just Walk Out Deployment in Georgia Hospital

1 in 4 American Adults Have a Disability — Does Your Site Give Them a Great Shopping Experience?

Winning Over Baby Boomers with High-Quality Product Imagery

Navigating the e-commerce landscape: Insights for Australian retailers in 2024

Victoria launches deposit scheme for Tetra Pak beverage cartons

Keeping up with the Customers: How Retailers are Adapting to New Shopping Behaviors

Stay Connected