UK retailers likely to be hit by boom in Black Friday returns
Research from Worldpay suggests retailers could turn refunds into repeat custom by offering a painless returns process to build good will
UK retailers could face a surge in refunds following Black Friday, as analysis of last year’s card transactions showed a 40% increase in returns the week after the flash sale.
The research from Worldpay suggests that the number of refunds as a proportion of total card transactions could jump by up to 20% this week if trends follow a similar pattern to last year.
This would mean goods purchased on Black Friday are more likely to be returned than those bought at other times of the seasonal shopping period.
Dave Hobday, UK managing director Worldpay, commented: “High returns can turn into a logistical and operational headache for retailers, many of whom use Black Friday sales as a way of clearing stock in time for Christmas.
“But retailers can turn this additional level of interaction to their advantage, building goodwill and future loyalty by ensuring the refunds process is as quick, friendly and painless as possible, and even using it as an opportunity to upsell.”
As a retailer, making sure your customers come back for more is essential to business success – find out the top 10 ways to generate repeat business here.