£1 billion of Black Friday returns expected
UK shoppers are expected to spend £5 billion from Black Friday to Cyber Monday, but up to £1 billion of returns are expected too
That's according to retail data intelligence company Clear Returns who says returned items will tie up stock for three to four weeks in the supply chain returns loop, with goods not back on sale at full price in time for Christmas.
It added that on any one day there is £978 million worth of ecommerce stock tied up in the returns cycle and this ‘stock on loan’ to customers will cost retailers £245 million this Christmas in refunds, cost of returns and goods being out of stock.
Vicky Brock, CEO at Clear Returns, said: “If retailers can understand at the moment of purchase if a customer will keep or return the items bought, it can change everything that happens next and returns are no longer about a salvage operation, but about helping direct stock and marketing messages to the customers who will buy more and keep on buying.
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