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Monthly Retail Round-Up - January 2020
Post-Christmas returns have been a big topic of conversation this month and here’s why, along with other top retail stories.
1) January Returns Spike
Returns are a necessary part of online trading, but January is the busiest time of year for returns for many retailers. The first working day after New Year has been dubbed ‘Takeback Thursday’ as returns of online purchases spike due to shoppers taking back unwanted Christmas presents. The BBC reported that returns on this day were expected to be 72% higher than the average day in December.
A study commissioned by Royal Mail (reported in Drapers) found that:
- The average online shopper in the UK sends back an online purchase every month
- 3/5 online shoppers would be unlikely to use a retailer again if they have a difficult returns experience
- 76% of those surveyed said speed of refund is the most important element of the returns process
- 72% of shoppers want clear guidance about which returns labels to use
- 58% of shoppers are more likely to use a retailer if they offer a “try before you buy” service
Dressipi’s Co-Founder and Chief Data Scientist were interviewed by BBC Radio 5 Live to help explain some of these ways retailers can better use their data to reduce returns costs.
2) ASOS Rolls Out AR Tool
Back in March 2018, ASOS trialled an augmented reality tool in partnership with Zeekit. The technology gave customers a view of a product in different sizes on up to 4 different models. This has now rolled out on up to 16 different models from a whole range of body types.
Reported in Fashion United, “the aim of the AR tool is to help Asos customers make more informed purchasing decisions as it shows how products look on models that more closely reflect individual customers”.
Tim Carey, Senior Content Manager, ASOS Studios, said in a statement (reported in Fashion United), “With this trial of See My Fit, we’re using the latest in AR technology to put the power in our customers’ hands, so they can choose to view a dress on the model that they most identify with, in a way that wouldn’t be possible using traditional model-shooting techniques.”
Browse the dresses trialling See My Fit here.
3) Zalando x Global Fashion Agenda
Sustainability is a buzzword on everyone’s lips at the moment especially for German pureplay retailer, Zalando. Their ‘do.More’ sustainability strategy has announced many new initiatives including launching reusable packaging.
Eva Kruse, CEO, Global Fashion Agenda, said (reported in Fashion United), “Global Fashion Agenda is driven by a collaborative and solutions-driven approach to identify the major challenges facing our planet and industry, as well as the opportunities and innovations that can transform the fashion business.”
We hope you enjoyed the round-up. Please feel free to get in touch with any stories you feel would be of interest.
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