Snap, Post, Return: The Impact of Social Media on Fashion Purchases
- Almost one in ten Brits buy clothes online to wear once for social media posts before returning them.
- 17% of 35-44 year olds participate in this trend, the highest percentage among age groups.
- Barclaycard’s research shows men spend more on fashion than women, with an annual difference of £300 per person.
- Returns culture costs retailers seven billion pounds a year.
- Retailers are adopting easier return processes to cater to customers.
A recent study by Barclaycard reveals that nearly one in ten Brits buy clothes online to wear them once for social media posts before returning the items. This trend is most prevalent among 35-44 year olds, with 17% participating. The rise of ‘try before you buy’ policies may be contributing to this phenomenon. Barclaycard also found that men spend more on fashion than women, with an annual difference of £300 per person. George Allardice, head of strategy at Barclaycard, states that retailers are adopting easier return processes and suggests introducing varied photography and video content to showcase clothing styles to reduce the number of ‘snap and send back’ instances.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the trend of buying clothes online specifically for posting on social media and returning them afterwards, citing a source (Barclaycard) and discussing its impact on retailers. It also includes relevant quotes from an expert in the field. However, it could provide more context or data on the overall returns culture and how it affects different industries.
Noise Level: 3
Noise Justification: The article provides some interesting insights into consumer behavior related to social media and online shopping trends, but it is mostly focused on a specific demographic (Brits) and relies heavily on the data provided by Barclaycard. It could benefit from more context or analysis of the broader implications of this trend.
Financial Relevance: Yes
Financial Markets Impacted: Retailers
Financial Rating Justification: The article discusses the impact of social media trends on consumer behavior, specifically returns of clothing purchases for photos, which affects retailers’ sales and their need to adapt to customer preferences.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but it discusses a trend of people buying clothes to wear once for social media and returning them, which has an impact on retailers.
www.retailsector.co.uk