The Christmas season has been and gone. The decorations have been packed away and we've all gained a few pounds. It's time to settle back into normality of the weekly routine. Or perhaps not... Remember those Minion pj's you thought would be hilarious to buy your dad? Or the 3rd selfie stick you unwrapped? It's the first full week back after the festive season and we are left with what retailers and carriers have dubbed 'Returns Week': a real burden for online retailers.
Back in May last year, we discussed how returns are a key element when preparing for seasonal peaks. The rate of returns for purchases made over the holiday season can equal approximately 8.1% of total retail sales annually, and this figure is surely only going to rise.
Royal Mail expected the volume of return parcels would jump by more than 50% on January 4th due to consumers mailing back unwanted Christmas gifts. And UPS expects to deliver over 5 million returns by the end of 'returns week'...That's 500,000 more than last year!
Last year, one in six online shoppers claimed to have returned or were planning to return an online Christmas purchase. UPS have dubbed today (Wednesday 6th Jan) as 'International Returns Day' in the USA, predicting returns to spike drastically as customers return to work with their parcels in hand ready to drop-off their packages en route or in their lunch breaks.
The busiest day in the UK for returns was reckoned to be the first Monday of the new year (3rd Jan) and therefore dubbed 'Mail-Back Monday' for the more urgent returners. Although i've been as bit lax recently and still got a few items sat in my hallway waiting to be returned. I certainly appreciate the retailer's who've extended their return policies but...note to self...make sure you don't miss the boat on the deadline - that top you bagged in the boxing day sales really isn't doing you any favours.
Let us know how returns week pans out for you and standby for our report on our first Christmas at ReBOUND, with insight on our peak through the portal.