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Retailers might want to grimly add and product returns to that list of lifes inevitabilities. consumers returned $890 billion in merchandise in 2024, equaling 16.9% Charges for returns should be on an exception basis only. I think its fair to say that very few retailers are super-explicit about their return policy, said Black.
A huge part of retaining customers is having a return policy that is clear and concise, giving customers the security they expect and want. In trying to accommodate all customer demands while simultaneously fighting for market share in a rapidly expanding and competitive fashion industry, retailers are relaxing their return policies.
Millennials and Gen Z shoppers are expected to be the highest returning demographics when it comes to sending back fashion purchases bought on Black Friday this year, according to the latest research by True Fit , the AI-driven platform that decodes size and fit for shoppers and fashion retailers.
But the merchant was suffering from a bit of an image problem that made it seem fusty and old-fashioned, a situation that led to a companywide turnaround plan initiated in 2020. One of the key strategic goals was increasing online sales, which had previously accounted for approximately 6% of all sales.
Australia and New Zealands leading pureplay online fashion, lifestyle and sporting destination has had a year of evolution; with seemingly smooth transitions overhauling the businesss order warehouse management system (OWMS), building a new B2B platform business and tackling the intricate returns issue.
Online return fraud cost U.S. For every $100 in returned merchandise accepted, U.S. to return fraud, the NRF has calculated. While it is possible for shoppers to commit return fraud innocently simply by mis-reading the returns policy, a significant number of returns are the result of premeditation and malicious intent.
Fashion tech start-up Mys Tyler has secured more than $1 million in its seed funding round, with Mirvac Ventures, Antler Global and angel investor Brian Hartzer, former CEO of Westpac, backing the business. Mys Tyler stylists will work with the community to help women of all shapes, sizes and ethnicities meet and learn about fashion.
Fashion and leather goods fell 5 per cent to €9.15 Gucci, which accounts for half of the group’s annual sales and two-thirds of its profit, was down 25 per cent in the quarter. The odd one out Last week, LVMH reported a 3 per cent fall in sales for the third quarter, which the company attributed to China’s weak consumer confidence.
Woolworth Holdings’ sale of the David Jones department-store business has cleared the way for the brands of its Country Road Group division to return to the shelves of Myer. Flagship and CBD stores performed particularly well and online sales accounted for 17.2 per cent of turnover, compared with 28.1 per cent for the prior period.
Currently, those retailers that understand their customer base, launch gen AI products that fit their audience and implement them using a phased approach are satisfied with their progress but this only accounts for 1% of McKinseys retail respondents. The same can be said for furniture.
French fashion designer, Manfred Thierry Mugler, who was behind designs worn by Beyonce and Lady Gaga, has passed away, aged 73. . “We May his soul Rest In Peace,” said a statement on Mugler’s official social media accounts. . The designer retired from the brand in 2002 before returning in 2013 as the creative adviser.
Now, starting June 6, ShopShops’ dedicated Century 21 NYC hosts also will share livestreams on Century 21’s TikTok account. While the company had anticipated the return of its ecommerce operation last year as well, a full-blown ecommerce website has not yet been launched. “As
The Iconic has launched a new branding campaign over a month after the online fashion retailer found itself in defence mode due to fraudulent transactions made via customers’ accounts. ” In January, The Iconic committed to refunding customers after fraudulent orders were made on their accounts. .
Topshop is gearing up for the relaunch of its website, with three teaser videos posted on its Instagram account and the cryptic message “watch this space” to hint at the developments ahead.
J Crew’s catalogue has long been a coveted fashion reference to timeless style and now the brand is ready to capitalise on its own lore. An Instagram account called “lostjcrew” has amassed nearly 82,000 followers posting photos exclusively from J Crew catalogues produced between 1983 and 1997.
This year saw the proposal of the Fashion Sustainability and Social Accountability Act. The sourcing of raw materials, factory working conditions and the environmental impact of goods distribution matters — and it appears business leaders in fashion and retail are taking note. A Starting Point. Greater demand forecasting.
Research from E-marketer shows that global marketplaces accounted for 62 per cent of online retail sales last year up four points from 2022. We also look after Shein, now the world’s number one fashion marketplace, and Temu, the fastest-growing app in 17 countries, including Australia, last year.
UK-based fast fashion retailer In The Style is understood to have been bought out of administration. Accounting firm FTS Recovery was taken on as administrator of the struggling fashion brand on 10 March. However, the fashion retailer has struggled in recent years.
. “By definition, when you increase the cost per click, the return on your marketing investment decreases. ” Paid search ads can drive anywhere from 15 per cent to 30 per cent or more of a retailer’s online sales, and account for as much as half of the marketing budget, Lautier said.
So far this year, department store sales have accounted for less than 1% of retail sales, according to estimates from Customer Growth Partners. David Malka, Chief Sales Officer of logistics company goTRG , said that the format also could help the ecommerce behemoth mitigate one of the largest downsides of selling digitally — higher returns.
Pretty Little Thing founder Umar Kamani has revealed a host of changes to its website, after returning to the brand earlier this month. ” Kamani returned to Pretty Little Thing earlier this month, vowing to make “exciting changes” and make the brand special again. .
Its customer-centric approach is highlighted by a 60-day, no-questions-asked return policy. Untapped opportunity While online retail has experienced robust growth, the offline market in Vietnam still accounts for more than 80 per cent of the overall market share. According to Statista, Vietnam’s fashion market is projected to reach $2.82
PrettyLittleThing founder Umar Kamani is returning to the fast fashion retailer as he vows to make the brand special again. One of Kamani’s first actions will see the reintroduction of free returns to customers part of PrettyLittleThing’s loyalty programme just three months after the retailer scrapped the perk.
As bricks and mortar retailing returns to pre-pandemic rates, business owners are left to question whether the traditional in-store experience suffices in this new, convenience-driven consumer world. While reducing both the economic and environmental cost of returns. The leading reason for return being wrong sizing.
As bricks and mortar retailing returns to pre-pandemic rates, business owners are left to question whether the traditional in-store experience suffices in this new, convenience-driven consumer world. While reducing both the economic and environmental cost of returns. The leading reason for return being wrong sizing.
Philpott spoke to Inside Retail ahead of travelling to Miami Swim Week about the nomadic beginnings of his career in fashion retail. SP: The freedom of what I had experienced in Hawaii and my drive to make things happen led me to make a big decision and get into the fashion Industry. I decided to try and be a fashion sales rep.
Sometimes, though, the world changes, consumer opinions shift and brand values need to be modified to account for those evolutions. This was the case at ModCloth, which was one of the first fashion brands to sell plus-size options alongside its other sizes.
A year into the Covid-19 pandemic, there’s no question the global crisis has disrupted just about everything in the fashion world, from how we dress, to how we shop, to how the industry itself operates. Luxury fashion it-girls dress up for Prada’s ready-to-wear debut. If you’re ready for re-openings, so is Prada.
Digital accounted for 44% of net sales in Q4 2020, and the retailer also highlighted the fact that 25% of its digital sales were fulfilled from its brick-and-mortar stores via curbside pickup and same-day delivery. “The Additionally, the cost controls we committed to in February were key in helping us weather the pandemic.
The Online CX Index, a partnership between Inside Retail and Humii, covers the entire website experience through checkout, delivery and even returns, evaluating eight key criteria based on up to 200 data points. Useful filters add to the smooth online shopping experience, with the option to adjust imagery size contributing to the ease of use.
Bangladesh’s ongoing political unrest has placed the country’s textile and garment industry in a uniquely difficult position and poses significant challenges to global fashion retailers, many of which are already seeking to diversify their sourcing. The country exported US$38.4
Returns present a complex challenge for retailers of all sizes, not only contributing to their carbon footprint, but also eroding their profit due to the cost of managing and paying for reverse logistics and, in some cases, leading to fraud. Meanwhile, the use of returns by customers continues to grow in popularity.
H&M Group CEO Helena Helmersson believes business leaders need to work together to reduce the fashion industry’s impact on the environment. If the fashion industry really wants to reduce its environmental footprint, Roger Lee, CEO of garment manufacturing firm TAL Apparel, said it needs to have a system in place. “We, Lee said. .
The fashion industry is a critical turning point. Consumers are demanding more accountability, governments are introducing tighter regulations, and the environmental impact of the current model is impossible to ignore. Brands intentionally designing garments to fall apart to ensure customers have to return and buy again is so wrong.
This places sneakers ahead of high-end fashion clothing (69% riskier than average), making these two categories the only ones with an above-average riskiness score (when compared to electronics, jewelry and watches, cosmetics, low- to mid-range fashion, home and other ecommerce goods).
But this is only one side of the story; the ecommerce boom also led to a significant increase in return rates, which adds considerable logistical and cost implications, and eats into the bottom line. Marketing is rarely held accountable beyond the initial purchase and many advertisers are still optimising for revenue.
Some of the accounts we once had, we might have lost touch with because we had a team transition throughout that administration as well. The post The return of Tigerlily: An in-depth interview with the new CEO appeared first on Inside Retail. So that’s what we’re looking at doing now.
Fast forward to October 2021, and Australia’s largest online fashion retailer The Iconic is leading the way on resale, partnering with AirRobe on the Circular Wardrobe, an initiative that allows customers to resell, rent, or recycle their preloved items with one click. They’ll fall behind the competition if they do.”.
Last November, international fashion resale platform Vestiare Collective shocked the apparel industry by banning the trade of ‘fast-fashion’ labels. Wone, who joined Vestiaire Collective in March 2020, said the ban underlines Vestiaire Collective’s founding mission – to drive collective change towards a circular fashion economy.
Fresh off its biggest capital raise to date, peer-to-peer fashion rental platform Designerex is gearing up for a period of rapid growth that will see it launch one-hour delivery in Australia, enter the UK and Europe and start working more closely with brands to reach new customers. Someone is making two grand from a $400 dress,” Kore said.
Much of the growth in resale, also referred to as “recommerce,” is driven by fashion at the moment, although other categories such as electronics , homewares and furniture also are making huge gains. Coresight expects fashion resale to grow at twice the rate of the total U.S. fashion market this year alone. REI , for example.
The Online CX Index, a partnership between Inside Retail and Humii, covers the entire website experience through checkout, delivery and even returns, evaluating eight key criteria based on up to 200 data points. Useful filters add to the smooth online shopping experience, with the option to adjust imagery size contributing to the ease of use.
For Leukbook, a new online fashion marketplace founded by Katrina Van De Ven and Catherine Olivier, it’s all about fit. Launching in Australia next month, the one-stop shop for plus-size fashion plans to offer personalised sizing recommendations and a fit guarantee to differentiate itself in the notoriously underserved market. “It
Trans-Tasman apparel retailer Mosaic Brands is set to open 130 new stores as customers return to in-store shopping. According to unaudited accounts for the half year to January 1, sales grew 23 per cent driven by strong trading momentum and a higher average transaction value.
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