New Research Shows Drop in High-Frequency Returners Saving Retailers £1.7bn
- Number of serial returners in UK retail drops by a quarter
- £6.6bn cost for retailers last year
- Retailers implementing targeted changes to returns policies
- Asos and Next introduce measures for high-frequency returners
- 76% of top 100 UK retailers implement fees or withhold delivery refunds
- Fees typically between £2.50 to £2.95 for returns
- Gen Z and Millennials willing to pay up to £2.10 in fees
- Premium brands reduce friction for loyalty
- In-store returns remain free, postal returns charged
- ZigZag CEO: Returns policies define customer behavior at checkout
A recent study by ZigZag reveals a decrease in the number of serial returners in UK retail, saving businesses £1.7bn in forecasted returns value by 2025. While occasional and slow returners increased, retailers are adapting their policies to encourage conscious purchasing. Brands like Asos and Next target high-frequency returners with fees and segmented policies. Premium brands reduce friction for loyalty, while in-store returns remain free. ZigZag CEO Al Gerrie states that returns policies can be a competitive advantage if managed correctly.
Factuality Level: 4
Factuality Justification: The article contains some relevant information about changes in UK retail returns policies and consumer behavior, but it suffers from redundancy, as key points are repeated multiple times. Additionally, there are elements of bias in the presentation of the information, particularly in how the impact of serial returners is framed. The reliance on a single source (ZigZag) raises concerns about the comprehensiveness and objectivity of the reporting.·
Noise Level: 7
Noise Justification: The article provides relevant information about the changing dynamics of returns in UK retail, supported by data and examples from specific retailers. It discusses the implications of these changes on consumer behavior and retailer strategies, which adds depth to the analysis. However, the article is somewhat repetitive, particularly in the introduction and conclusion, which detracts from its overall clarity and impact.·
Financial Relevance: Yes
Financial Markets Impacted: UK retailers
Financial Rating Justification: The article discusses the impact of changes in returns policies on UK retailers, which can affect their financial performance and customer behavior. It mentions that serial returners cost retailers £6.6bn last year and how new measures are being implemented to reduce this cost. This has an impact on companies like Asos, Next, H&M, etc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: The article discusses changes in retail return policies and consumer behavior but does not mention any extreme events that occurred in the last 48 hours.·
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