It’s certainly something for e-retailers to watch though. Without the ability to ‘touch’ and try the product they’re buying you would expect a higher proportion of returns. This may just be a natural by-product of the greater number of people who have opted to shop online rather than in-person. This increased volume of returns means some brands are finding it hard to see the net value in a customer. The event’s delegates also reported that, in the UK, there is a growing trend of consumers buying more but then returning more purchases to e-retailers. At the same time marketing spend had only increased by 0.1%.Įssentially this means that there are many more small-scale retailers coming to the market and placing greater pressure on organic social channels.Ī similar pattern occurred in the US market, which has meant that bigger brands have had to compete against more niche personalised ones. It was interesting to hear that one outcome of pandemic was the large number of new e-retail companies that set up (estimated at over 39k). The keynote speaker was Nick Wheeler, founder of Charles Tyrwhitt. There were informative talks from Epsilon and their digital and US sister companies, as well as speakers from a host of fashion brands like ME+EM, Joe Browns, Saint Clothing and Sofia. It was a great day on level 42 of the Leadenhall Tower (aka the cheese grater) last month for the Epsilon Abacus Insights Day.įor the unfamiliar, Epsilon Abacus is a premier data cooperative for catalogue and multi-channel retailers.
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