𝕀𝕟𝕤𝕚𝕘𝕙𝕥𝕗𝕦𝕝 𝕣𝕖𝕡𝕠𝕣𝕥 𝕠𝕟 𝔸ℙℙ𝔸ℝ𝔼𝕃 ℝ𝔼𝕋𝕌ℝℕ𝕊 𝕓𝕪 Coresight Research

👗 Offline-based apparel companies experience higher online return rates than online-based counterparts.

💸 Returns for offline-based companies reduce their bottom line by an average of 28.9%, equating to $11.34 million.

📏 Top reasons for online apparel returns: size/fit (53%), color (16%), damage (10%).

👖 Certain apparel categories like pants, shirts/blouses, dresses, and outerwear/jackets see higher return rates.

🔄 Apparel brands and retailers are adopting strategies like changing returns policies and implementing virtual try-on tech.

🔍 85% of surveyed brands and retailers either use or plan to use virtual try-on tools.

💼 Virtual try-on tools not only reduce returns but also drive initial sales.

📏 Size-recommender tools increase conversion for 80% of brands and retailers who use them.

HOW INDUTRY ARE HANDLING RETURNS :

Gap shortened its returns window to 30 days in June 2022, down from the previous 45 days.

ZARA USA implemented a $3.95 charge for online returns to third-party drop-off points starting June 2022.

Amazon introduced virtual try-on for shoes in June 2022 through its new mobile AR tool.

Walmart acquired Zeekit (a Walmart Company), a virtual clothing try-on startup, in May 2021 and improved the experience in September 2022 by enabling customers to use their own photos for better visualization of clothing.

SOURCE ARTILE LINK in comments 

hashtag#ApparelReturns hashtag#FashionTech hashtag#RetailStrategy hashtag#VirtualTryOn hashtag#SizeRecommender hashtag#RetailTrends hashtag#ECommerce hashtag#FashionIndustry hashtag#CustomerExperience hashtag#RetailInnovation hashtag#LossMinimization hashtag#OnlineShopping hashtag#FashionRetail hashtag#RetailInsights hashtag#ApparelIndustry hashtag#ReturnRates hashtag#FashionReturns hashtag#RetailTech hashtag#CustomerSatisfaction hashtag#FashionInsights