As the glow of the golden quarter begins to dim, retailers face a surge of returns. What can they do to keep the spiralling cost of processing returns down?
The Royal Mail predicted that on January 2, which was dubbed ‘Takeback Thursday’, returns of online purchases would have spiked by as much as 72% compared to the average number of returns per day in December.
As consumers seek to return a mountain of unwanted Christmas purchases, the costs of processing goods and paying out the refunds predominantly fall on retailers.
Data from third-party returns processing firm B-Stock indicates that as much as £60bn of products are returned to UK retailers every year, and about £21.2bn of that is sent back between January and March following the Christmas period.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.