This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Welcome to the world of retail returns, an expensive, cumbersome yet essential part of the industry. The number of returns is growing and managing them is critically important to maintaining margins and customer satisfaction. of all purchased goods were returned to retailers. of all purchased goods were returned to retailers.
With the holiday season out of the way, next to come is a wave of returns that will stretch into the new year. The value of merchandise being fraudulently returned to retailers hit an all-time-high in 2024 at over $100 billion , up four-fold compared to just four years ago, according to industry sources.
Christmas and end-of-year sales are big business for retailers but they also drive enormous returns. The rise in post-Christmas returns can be attributed to several trends, with the growth of eCommerce being a leading factor. This helps lower material use and reduce space in delivery trucks, ultimately lowering emissions.”
With the holiday season just concluded, the challenge of managing merchandise returns is a reality for many retailers. According to the latest data from the National Retail Federation (NRF), merchandise returns are projected to reach an astounding $890 billion in 2024, accounting for approximately 16.9%
Speaker: Ashlee Aldridge - Reach Partners LLC | Bill Mirabito - Chameleon Collective | Ronak Shah - PSA Retail & CPG, Amazon Web Services | Wayne Teigen - Pivotree
Whether you're engaging with customers on their social media platforms or you're adopting a frictionless return policy, creating personalized experiences through an omnichannel e-commerce strategy is how to see growth in 2023 and beyond. The cool new innovations shaping the commerce industry.
Retailers in Australia are scaling back on free delivery and returns amid the continued increase in delivery costs, according to a report from delivery platform Shippit. To cope with this, many retailers have no choice but to scale back on free delivery and returns, despite growing customer demand. last year to $10.39 to $14.69.
Businesses misrepresenting themselves as Australian fashion retailers are defrauding Australian consumers, the Australian Competition and Consumer Commission warns. This conduct preys on the empathy of consumers who have a genuine desire to support local businesses, as well as creating a false sense of urgency,” said Lowe.
Now, securing sought after products at the best price is becoming increasingly chaotic for consumers, with prices fluctuating during a number of weeks across the Golden Quarter. Forget deal or no deal, it’s more like deal or disappointment for consumers, leaving much to be desired in terms of results for retailers.
Retailers understandably want to create strict returns policies to reduce instances of fraudulent or abusive claims. At the same time, a rigid strategy like no receipt, no returns can sour loyal customers as well as drive fraudsters toward new criminal tactics, forcing loss prevention teams to continually change strategies.
With vaccination rates rising, consumers spending more money, and people returning to offices, the job market is going through a period of unprecedented adjustment. As the New York Times observed, “It’s a weird moment for the American economy.” And recruiting professionals are caught in the middle.
Several retailers have been warned by Australia’s consumer watchdog over potentially misleading and problematic terms and conditions for product returns and warranties. The post ACCC calls out online retailers with problematic product return, warranty terms appeared first on Inside Retail Australia.
Total returns are projected to reach $890 billion in 2024, up from the estimated $743 billion of merchandise returned in 2023 , according to a new report from the National Retail Federation and Happy Returns , a UPS company. This would account for 16.9% of retailers’ annual sales in 2024, increasing from 14.5%
During the pandemic, ecommerce returns majorly impacted retailers profit margins. As customers return to in-store shopping, retailers are continuing to face an increase in returns from online and in-store sales. This holiday season, consumers who frequently make returns may be in for a surprise.
With returns siphoning off a staggering $743 billion from retailers bottom lines in 2023, its clear that the industrys approach needs an overhaul. But instead of leaning on rigid policies that risk driving customers away, retailers can use this as an opportunity to rethink returns.
“In Victoria, sales have not yet fully recovered, but availability and customer metrics are returning to pre-disruption levels with ongoing efforts to regain customers.” per cent amid strikes, changing consumer habits appeared first on Inside Retail Australia. ” New Zealand food sales inched 0.9 per cent to $3.08
Whether its attacks on our public lands or basic human rights or volatility that were all still feeling around tariffs , the uncertainty around things like consumer confidence and the stock market its been a lot. REI, with its 25 million members, is the largest consumer co-op in the nation, she said.
This helps manage consumer expectations as well as enhance profitability on limited stock. Using AI for returns optimisation Another growing supply-chain issue for retailers is returns. Businesses are getting increased returns every year. For clothing and fashion, the return rate rises to 30 per cent.
Strategic shifts G-Star appears intent on crafting a seamless and thoughtful reintroduction to Australian consumers. Its relaunch is not limited to returning to where the brand once thrived but revitalising itself and forging new connections. Good Products & Co is the distributor of G-Star Raw in Australia and New Zealand.
In 2023, fraudulent returns accounted for a staggering 13.7% of all returns , resulting in $101 billion in losses. With the rise of ecommerce, direct-to-consumer (DTC) retailers are particularly vulnerable as their online-only presence provides fertile ground for fraudulent activities.
Indian retail conglomerate Reliance Retail has introduced an app in India to sell Sheins fashion products through a licensing agreement, marking the Chinese brand’s return after a five-year ban due to diplomatic tensions. The Reliance-Shein partnership, while promising for business, brings environmental concerns to the forefront.
The Modernization of Cosmetics Regulation Act (MoCRA) introduces significant regulatory changes for the cosmetics industry, aimed at enhancing consumer safety and product transparency. By understanding and implementing these standards, cosmetic manufacturers and retailers can navigate compliance effectively and strengthen consumer trust.
Consumers came out to spend this holiday season and clearly underscored the solid growth in the U.S. While the shorter holiday shopping calendar likely influenced the continued trend of more online shopping, there was also a return to in-person shopping experiences and a focus on early buying, Kleinhenz added.
The holiday shopping season appears to start earlier each year, with Black Friday and Cyber Monday deals extending for weeks and retailers constantly competing for consumers attention. Additionally, the checkout process must remain consistent whether consumers are shopping in-store, online or using the retailers app.
While policymakers often champion tariffs as a mechanism to protect domestic industries, their ripple effects are far-reaching, inflating costs, disrupting supply chains and, ultimately, burdening consumers. Price-sensitive products suffered a drop in demand as consumers struggled to shoulder the rising cost of tariff-stricken goods.
According to PwC, businesses that reduce friction for consumers and empower all employees to make things right whether through returns, price adjustments or other policies bring higher customer satisfaction and more forgiveness. Delivering a smooth and frictionless post-purchase experience should be a top priority for every retailer.
Personalisation is already an important factor in cultivating customer loyalty among Gen Z and millennial consumers, and they will be even more critical of Gen Alphas as their influence grows. The post The consumer preferences driving the next generation of e-commerce appeared first on Inside Retail Australia.
While events like Black Friday and Cyber Monday are still expected to attract crowds and drive online traffic, competition for consumers’ carefully guarded share of wallet will be fiercer than ever. To maximize holiday sales, joining established external loyalty programs can be a strategic move for retailers.
From mountains of packaging to returned products that may contain hazardous materials, management of returned, damaged or expired products becomes increasingly complex and voluminous during the holidays and post-holiday season. The holiday season brings a surge in shopping, both in-store and online.
million amid ongoing weak consumer sentiment due to cost of living pressures. “The business has strong fundamentals and is well positioned to benefit as consumer confidence returns,” said Xavier Simonet, Collins Food MD and CEO. KFC Australia’s revenue increased 2.7 per cent to $536.8 per cent to $142.1
As UK consumers navigate ongoing cost-of-living pressures, affordability and convenience remain decisive factors in where and how they shop. Now in its second year in the UK market, Temu is earning high marks with local consumers. And that’s a very positive thing for retail — both online and on the high street.”
Key Takeaways High Return Categories: Apparel, electronics, home goods, and beauty products are among the most returned items due to sizing issues, defects, and customer dissatisfaction. Quality Control: Ensuring product quality through rigorous checks can significantly reduce return rates and enhance customer trust.
It all adds up to a nasty bite to the pocketbook of consumers everywhere who are looking to shower one of the worlds favourite romantic gifts on their loved ones. per cent, a return to more normal historical trends after a 5.6 Consumer confidence is weak and getting worse. per cent compared with the same month a year ago.
Commenting on Leighton’s return to the supermarket giant, Grocery Insight CEO Steve Dresser notes: “I don’t think anyone could have foreseen it. Everyone wondered whether his going plural work would ever see him return to the food retail space- the time now feels absolutely right.”
The ease of online shopping is partly driven by flexible return policies. Gen Z often buys multiple items, tries them on at home and returns what doesnt fit. Across generations, 24% of online clothing purchases are returned.
Millennials and Gen Z shoppers are expected to be the highest returning demographics when it comes to sending back fashion purchases bought on Black Friday this year, according to the latest research by True Fit , the AI-driven platform that decodes size and fit for shoppers and fashion retailers. Image courtesy of Pexels.
The Fast-Moving Consumer Goods (FMCG) industry is no stranger to challenges. AI image recognition FMCG is a technology that transforms how brands manage shelves, track inventory, and understand their consumer behavior. Real-Time Shelf Monitoring Manual shelf checks are time-consuming and prone to errors.
Its CEO Richard Stevens has seen an uptick in consumers using these tools during their offline shopping journeys. “We This new wave of highly informed consumers is resulting in other savings vehicles, like price matching, becoming more accessible.” The AI-augmented shop floor The implications of in-store AI stretch beyond resale.
Australia and New Zealands leading pureplay online fashion, lifestyle and sporting destination has had a year of evolution; with seemingly smooth transitions overhauling the businesss order warehouse management system (OWMS), building a new B2B platform business and tackling the intricate returns issue. So of that, whats actually bracketing?
A recent study found that three-quarters of consumers will avoid a brand after a cybersecurity issue, and more than 40% assume that brands are to blame when an incident occurs. Another survey of online consumer attitudes found that 84% wont go back to an ecommerce site after a fraud experience there.
From trying on clothes without stepping into a fitting room to visualizing how a new sofa fits into your living room before you buy, augmented reality (AR) is rewriting the rules of retail in real-time—and both consumers and brands are paying attention. For brick-and-mortar stores, AR adds an experiential layer that encourages foot traffic.
For retailers primarily targeting Gen Z and millennial consumers which now make up over 40% of the population applying gen AI in the research phase of the purchase journey is a good place to focus attention. Price has been a top driver for many consumers for decades.
Exclusive: Google Debuts New Retail Media Solution with Lowes as First Beta Tester (March 18, 2024) Retail media was THE growth story in 2024, fueled by these networks ability to target consumers at key decision points in the shopper journey. consumers wallet.
In fact, 54% of marketers planned to activate their 2024 holiday campaigns in Q3. But consumers have spoken, and 89% think pre-October is “too early” for brands to launch their Christmas marketing campaigns, according to new data from brand tracking company Tracksuit. RTP: Consumers are especially mindful of value this year.
Indeed, 30% of consumers said they buy from online marketplaces a few times a month, while another 20% buy from them a few times a week, according to Bizrate Insights. However, 70% of consumers prefer shopping with specialized marketplaces over their mass counterparts, according to Boston Consulting Group.
We organize all of the trending information in your field so you don't have to. Join 40,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content