Gen Z Shoppers Set to Return Over One in Four Black Friday Fashion Purchases, Study Finds

  • One in six Black Friday purchases will be returned, with Gen Z and Millennials leading the way as the highest returning cohorts
  • Gen Z shoppers plan to spend £389 on fashion during the event, while the average UK shopper spends £239
  • Total UK retail revenues from Black Friday reached £12.3bn last year, up 8.3% year-on-year
  • 51% of UK consumers plan to spend during Black Friday and a third will spend up to a quarter of their Christmas budget on BFCM sales

Almost one in every six garments bought on Black Friday will be returned, with Gen Z and Millennials leading the way as the highest returning cohorts, according to True Fit’s research. The average 18-25 year old plans to spend £389 during the discounting event on clothing, shoes, and accessories, while the average UK shopper spends £239. Last year, total UK retail revenues from Black Friday reached £12.3bn, up 8.3% year-on-year. This trend is expected to continue as 51% of UK consumers plan to spend during Black Friday and a third will spend up to a quarter of their Christmas shopping budget on BFCM sales. Fit assurance is crucial for retailers to balance revenue with margin protection and build consumer trust and loyalty.

Factuality Level: 8
Factuality Justification: The article provides accurate information from a reliable source (True Fit) about return rates for Black Friday fashion purchases, spending habits of different age groups, and the importance of fit assurance in online fashion conversions. It also references data from Mintel and IPA to support its claims.
Noise Level: 3
Noise Justification: The article provides relevant information about Black Friday shopping trends and return rates among different age groups, as well as insights into consumer behavior during the event. It also includes data from True Fit’s research and expert opinions on the importance of fit assurance for retailers. However, it lacks a deeper analysis or exploration of the reasons behind these trends and their implications.
Financial Relevance: Yes
Financial Markets Impacted: UK retail revenues, Black Friday sales
Financial Rating Justification: The article discusses the impact of Black Friday sales on UK retail revenues and consumer spending behavior, which can affect financial markets through changes in revenue for retail companies.
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 the trend of increased returns during Black Friday and Cyber Monday sales.

Reported publicly: www.retailsector.co.uk