EXCLUSIVE REPORT: Reshopping “Returns, Refunds and Respending” - How streamlining returns and refunds will help drive future sales and long-term loyalty
Online fashion sales in the UK are now set to outstrip those on the high street in 2022 – that’s three years earlier than pre-pandemic predictions.
The three forced shutdowns of non-essential retail that ran across 2020 and into 2021 meant fashion shoppers were forced online out of necessity and now that the stores are open, that forced behaviour has become a habit (even for former online shopping refuseniks – some 34% of over 65s now say they prefer shopping online, double the figure of pre-pandemic).
These figures are backed up by an exclusive study, carried out by TheIndustry.fashion in partnership with Advanced Supply Chain Group (ASCG), which seeks to examine consumers’ attitudes and behaviours when it comes to shopping for fashion online and, crucially, the part the returns process plays in those attitudes and behaviours.
During October 2021 we carried out a survey of 2,000 nationally representative consumers, which shows that, in the wake of the pandemic, some 56% of consumers say they will now buy most or all of their clothing online.
In this report we give you invaluable insights from shoppers on:
- Now that stores are open, what effect has this had on your fashion/apparel shopping?
- When shopping for fashion/apparel in-store, which are the greatest benefits?
- When shopping online, which factors are likely to encourage you to purchase?
- If it takes you longer than two to three days to return an item/s, what typically causes the delay?
- What would encourage you to return an item to a retailer more quickly?
- If you received a same-day/speedy refund, would it encourage you to re-spend that money with a brand/retailer?
- Would same day/speedy refund encourage you to buy clothing online more frequently?
Our research shows that the potential rewards from optimising returns are huge, and will only get bigger as the e-commerce market grows. With online shopping set to outpace physical retail in fashion for the first time in the UK next year, now is the time for retailers to embrace returns.
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