Total US retail return volume will reach $627.34 billion this year, a 2.2% increase YoY, according to our forecast. Some retailers are turning to return fees to make up for increased costs, but that’s a risky move that may end up alienating customers. Here are three alternatives to return fees, ranging from the short term (building out product descriptions and customer reviews) to the long term (creating a returns as a service offering).
Private 5G partnership could boost enterprise adoption: The rise in ransomware and security exploits in enterprise will accelerate private 5G solutions. Provider consolidation can go a long way in gaining adoption.
Amazon’s revenues rose 9% in Q4: While the company’s highly profitable retail media business continued its upward trend line, ecommerce sales fell 2% YoY.
Amazon’s 2023 is off to a difficult start: The retailer said it would lay off over 18,000 workers as it prepares to weather global uncertainty.
The leading reason consumers in the UK and US return online purchases is due to fit, size, or color, according to Coveo. Damage, defects, and poor quality are other top reasons. Some 18% of UK and US consumers make returns because they order multiple sizes with the intent of keeping only those that fit.
Retailers' Q3 earnings show signs of optimism ahead of the holiday season: Foot Locker, Dick’s Sporting Goods, Best Buy, and American Eagle each beat expectations as shoppers continue to spend.
In 2024, robots will be used by just under half of medium to large operators of warehouses and fulfillment centers in the US. That’s up slightly from 44.9% this year and significantly from 28.0% in 2019.
Temu bets low prices will be enough to attract shoppers: But the Pinduoduo-owned platform will have to improve the customer experience to turn initial interest into lasting gains
TikTok intends to build its own product fulfillment centers in the US, as evidenced by new job postings on LinkedIn, first discovered by Axios.
TikTok bets on social commerce to deliver significant revenues: The platform is reportedly planning to build its own network of fulfillment centers.
Shein plans to open three large US distribution centers: The investment will dramatically cut its shipping times by up to 75%.
Shopify broadens the services it offers merchants: It partnered with YouTube to allow creators and merchants to sell products on their channels and bolstered its logistics platform by buying Deliverr.
American Eagle Outfitters’ supply chain business is transforming the company: While the merchant’s retail sales fell in Q1, its supply chain business helped the retailer get into the black.
Retailers take multiple approaches to inventory as supply chain woes wear on: Companies like Utz and DSW are cutting down on SKUs while Walmart and Target are stocking up early.
Brands and retailers are adopting new technologies as they pursue supply chain optimization: Kraft Heinz, UPS, and Amazon are looking to AI, the cloud, and other tools to streamline operations.
Shopify doubles down on logistics with its latest acquisition: The company is spending $2.1 billion on ecommerce fulfillment startup Deliverr to help it offer an “end-to-end logistics platform.”
Retailers take last-mile fulfillment into their own hands: Companies like Costco and Amazon are building their own logistics networks, to the detriment of FedEx and UPS.
Beijing’s zero-COVID policy wreaks havoc on the global supply chain: Lockdowns in Shenzhen and Dongguan make it harder and more expensive for retailers like Amazon and Walmart to deliver goods to overseas shoppers.
Retailers invest in last-mile fulfillment as shoppers clamor for convenience: Growing ecommerce business has led companies to revamp their brick-and-mortar footprints and adopt autonomous delivery methods.
Buyer's remorse intensified in 2021 as ecommerce adoption rose: High return rates are cutting into retailers’ margins and increasing inventory pressure.
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