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What Recommerce can Teach Retailers About New Consumer Behaviors and Future-Proofing Sales

Retail TouchPoints

As retailers have struggled to navigate changes in consumer behavior and economic uncertainty brought on by the pandemic, one area has seen continued growth: recommerce. Recommerce checks many boxes for both consumers and businesses. Why the strong growth, particularly during a time of economic upheaval?

Consumer 325
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It’s Not Easy Being (Truly) Green — But it’s Worth it

Retail TouchPoints

And while there are certainly costs associated with going green (though it turns out greenwashing is often more expensive), sustainability has the potential to boost sales, cut costs and increase efficiencies including the bonus benefit of reducing product returns. consumers, according to Bain & Co.; Premium pricing: 50% of U.S.

Returns 191
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Report: Rent The Runway Exits Brick-And-Mortar

Retail TouchPoints

the former New York City flagship will become a drop-off site for returning items. On March 27, Rent the Runway laid off its entire retail staff during a Zoom call, offering no assurance that the jobs would return, according to a report in The Verge. “We We have no visibility into when or if we will be able to reopen our stores.

Apparel 247
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Global luxury sales could return to pre-Covid levels this year, Bain says

Inside Retail

Bain now sees a 30 per cent probability that sales of high-end handbags, clothes and jewellery will return to or exceed their 2019 level of US$340 billion this year, depending on how quickly vaccines are rolled out and tourism picks up. Reporting by Silvia Aloisi, Editing by Gabriela Baczynska , of Reuters.

Returns 147
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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

That sense of unease is to be expected from a cohort shaped by both the 2008-2009 Great Recession and the COVID pandemic, and it’s had a big impact on their shopping choices: nearly half ( 48% ) say they shop the most often at discount/off-price retailers, and 25% frequently patronize dollar stores.

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Subscription Pro Tips: Encourage Loyalty and Long-Term Relationships by Making it Easy to Cancel

Retail TouchPoints

Subscriptions can be tricky business, not least because most consumers at one time or another have had a bad experience with a subscription service. That has not stopped consumers from subscribing though, especially with the rise of new takes on the model (box services, auto shipping and streaming TV, to name just a few).

Consumer 333
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Revolve SVP’s playbook for going global and the importance of localisation

Inside Retail

In 2008 and 2009 we had a lot of customers from around the world knocking on our door wanting to purchase from us, however, we didn’t ship to [every] country. In Australia, we provide three-day shipping to customers, free local returns, payments and a localised customer service manual. Now we offer free returns in Australia.