Media reports claim that this year’s online returns is predicted to cost fashion retailers 1.6 billion pounds, according to returns management platform ReBound Returns.
The overall UK retail sector is set to suffer return prices totalling 2.4 billion pounds due to to a spike in returns activity between Black Friday and Christmas Day. This spike is set to continue well into the new year, with 85 percent more returns predicted in January compared to the average month of the year.
According to ReBound Returns, reduced resale value, along with the costs of cleaning, retagging and reselling stock in January sales is particularly impacting Brit fashion retailers.
The already sluggish fashion retail sector bets big on holiday season to make the revenues in the best possible way. However, this backfires at times. Seeing the reports, it appears that it’d be more of a loss making deal for the retailers than money spinning.
More updates on holiday season sales will be shared soon. Stay tuned.