Retailers Lose Young Shoppers Over Complicated Return Policies
- 59% of millennial shoppers avoid online retailers with difficult or unclear return processes
- 42% of British shoppers return goods more now than two years ago
- 35% feel retailers don’t invest enough in return policies
- ReBOUND urges retailers to improve returns experience and streamline the process
- Millennial shoppers spend £164bn annually in the UK, a significant market opportunity
A study by returns management company ReBOUND reveals that 59% of millennial shoppers avoid online retailers with difficult or unclear return processes. The research also shows a 42% increase in goods returned compared to two years ago, and 35% believe retailers don’t invest enough in their policies. ReBOUND emphasizes the need for improvement and streamlining of the returns process. With millennials spending £164bn annually in the UK market, it’s crucial for retailers to address these issues.
Factuality Level: 10
Factuality Justification: The article is based on research conducted by ReBOUND, a returns management company, and provides statistics and quotes from the CEO of the company to support its claims. It presents factual information about the importance of improving return processes for online retailers, particularly for millennial shoppers.
Noise Level: 3
Noise Justification: The article provides relevant information about millennial shoppers’ preferences regarding return processes and the importance of improving them for retailers. It includes data from a survey and insights from an expert in the field. However, it lacks a deeper analysis or exploration of the consequences of poor return policies on businesses and consumers.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry
Financial Rating Justification: The article discusses the impact of return policies on retailers and millennial shoppers, which can affect sales and revenue for companies in the retail sector.
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 text.
