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How to transform returns from a costly headache into a profit centre

Inside Retail

“Up to 30 per cent of your sales may end in a return, and up to 50 per cent of an item’s original value makes up the return cost, including shipping, warehousing, and labour costs,” explains Tara Daly, senior director of product marketing at Loop Returns. For example, a summer dress can quickly go out of style in a couple of months.

Returns 147
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How to transform returns from a costly headache into a profit centre

Inside Retail

“Up to 30 per cent of your sales may end in a return, and up to 50 per cent of an item’s original value makes up the return cost, including shipping, warehousing, and labour costs,” explains Tara Daly, senior director of product marketing at Loop Returns. For example, a summer dress can quickly go out of style in a couple of months.

Returns 147
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Uniqlo owner sees big profit drop in China due to Covid restrictions

Inside Retail

Fast Retailing < is a bellwether for how major global retailers are being impacted by Covid-related shutdowns in China, one of the biggest growth markets for many Western brands. Fast Retailing has more Uniqlo stores in China than in its home market of Japan.

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Balenciaga, Reflaunt and the rise of resale-as-a-service

Inside Retail

Customers can join the circular program by dropping off their pre-loved Balenciaga items to participating Balenciaga stores or request collection through Reflaunt. Once an item is sold, it’s shipped from Balenciaga and the seller receives either financial compensation or credit for use in Balenciaga stores. Resale-as-a-service.

Fashion 130
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Three roadblocks to making circular fashion work – and how to navigate them

Inside Retail

However, when considering this, it’s worth bringing into perspective the entire fashion landscape, which is recalibrating to a new post-pandemic normal within a tough financial environment. This compounds the challenges fashion businesses are up against when adopting circular practices.

Fashion 130
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‘More is more’: Q&A with Camilla CEO, Jane McNally

Inside Retail

The original designs Camilla put to the market were, and actually still are, one size, and those silk garments can be tied or styled to suit everyone from a size 8 to 28. Some of our prints sell in the second-hand market for higher than the original retail price, so customers are making an investment. That starts with size inclusivity.

Fashion 264
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Gen Z: Merchants of cool or brand killers?

Inside Retail

My Gucci Marmont bag from Vestiaire Collective has shipped. Bagged a pre-loved bargain, supported circular fashion and didn’t even set foot in a store. Single Mum school drop off duties for my Gen Z daughter before hitting the desk for work. That’s my dopamine ‘shopper’s high’ for the day. Definitely pre-Covid. Time to get up.