Innovative approaches for fashion retailers to tackle returns, Vicky Brock, Clear Returns ASBCI...
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Tackle Your Returns Problem Innovative strategies in reducing returns Cost per return £15 33% return rate Worn item, cannot be resold at full price Returns 85% of what she buys Vicky Brock, CEO Clear Returns www.clearreturns.com
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Vicky Brock, CEO of Clear Returns, presented strategies for retailers to tackle their ecommerce returns challenges at the Association of Suppliers to the British Clothing Industry conference (ASBCI)
Transcript of Innovative approaches for fashion retailers to tackle returns, Vicky Brock, Clear Returns ASBCI...
Tackle Your Returns Problem Innovative strategies in reducing returns
Cost per return £15
33% return rate
Worn item, cannot be resold at full
price
Returns 85% of what she buys
Vicky Brock, CEO Clear Returns www.clearreturns.com
£20 billion UK Ecommerce returns
@clearreturns #ASBCI
grow keeps:
predictive analytics technology
to help retailers
Cut operatingcosts
Retain revenue post
sale
Improve customer experience
Optimise profits
[email protected] @brockvicky
@clearreturns @brockvicky
43% of retailers capture returns
data but do nothing with it
@clearreturns @brockvicky
Products
Customers
Marketing
What is driving return rates?
Service
@clearreturns #ASBCI
Returns from online growing faster than sales
1% of customers cause up to 10% of your returns costs
@clearreturns @brockvicky
Just looking at purchases is not enough
@clearreturns @brockvicky
What do customers keep?
@clearreturns #ASBCI
10% of your products cause up
to 50% of your returns
@clearreturns @brockvicky
@clearreturns @brockvicky
@clearreturns #ASBCI
@clearreturns #ASBCI
Toxic product! Caused average 2.5x decrease in overall basket keep rate and increased returns for all other items in the basket
Not as described was a factor, as was perceived quality.
So what next?
Early warning...
Predicting the returns you haven’t bought yet
Grow keeps and you grow profits
Fewer bunions
Cut spoilage
Increased
margin
20x lifetime value
Clear Returns 0141 554 4175 www.clearreturns.com
@clearreturns
