According to research presented by the intelligence company Clear Returns, UK retailers will lose £130 million when consumers return goods purchased on Black Friday on the 27th of November. If you add for example lost margins, cleaning and costs for storing, the total returns bill will come closer to £180 million, states Clear Returns.
- What retailers must remember is a sale is only a sale when a customer decides to keep an item – and the promise of a Black Friday discount alone might not be enough to close the expectation gap and secure a "keep". While on the surface, Black Friday is deemed to be a successful key trading day, but it’s a gloomier picture once returns are factored in, Vicky Brock, founder and chief executive of Clear Returns, told The Telegraph.
Third of Goods Bought Online Returned
E-commerce is pointed out as a sector with a high number of returns. An estimated third of all goods ordered online in the UK are returned, according to The Telegraph, which also reports that a majority of UK consumers has confessed to making impulse purchases on Black Friday, with one in eight returning goods they buy.
Each year returns cost UK retailers a total of £60 billion.