Online sales are ascending but so are returns. Return shipping costs are now a customary necessity for retailers and brands to do business. It’s expected 2 million returns for one carrier alone on January 2.
More sales ascending, but so are returns. “Seventh consecutive record-breaking National Returns Day as consumers send back holiday orders ranging from ill-fitting sweaters to duplicate kitchen gadgets,” predicted UPS, according to WWD. The supply chain management company and other shipping rivals have dubbed January 2 as “national return day”. The supply chain management company offers a range of services to help retailers and brands better manage returns.
UPS and other shipping carriers facilitate the omnichannel experience for consumers to make it more enjoyable, which includes quick and easy returns. In UPS’ own-conducted survey of purchasers, the carrier stated consumers “make purchases with returns in mind,” noting that 73% of online consumers, “say the returns experience affect their likelihood to buy from retailer again”, as stated on WWD
1010data revealed in its “Holiday flash report” that returns are now considered by retailers “to be a cost of doing business. As online sales have increased, so have returns, and online returns have come at a higher cost than brick-and-mortar returns,” stated 1010data. The tech enterprise’s researchers discovered that online purchases are returned at a higher rate in comparison to returns of merchandise bought in physical stores.
“As online sales have increased, so have returns, and online returns have come at a higher cost than brick-and-mortar returns,” says 1010data.
With sales mounting and returns rate that are stacking up, a few consumer trends are worth taking into consideration. Mercari, a resale market place app for shoppers, explained that it had teamed up with YouGov PLC to poll U.S consumers. They discovered that 63% of respondents recognized “having too much stuff.”
Further polls revealed pertinent insights concerning the changes occurring. 30% generation Z consumers polled declared they had intentions to sell their unwanted gift in comparison to a slimming 17% of baby Boomers admitting they’ll do the same. The poll also revealed that most for the New Year, “getting organized” was one of the top resolutions while more than one-third polled said, “simplifying their life and accumulating less “stuff” is one of their New Year’s resolutions.”