Almost one in every six garments bought on Black Friday will be returned, with Gen Z and Millennials leading the way as the highest returning cohorts. This is according to the latest data from True Fit, an AI platform that decodes size and fit for consumers and apparel and footwear retailers.
Original research of over 1,000 UK consumers by True Fit revealed that the average shopper plans to send back almost a sixth (15%) of the fashion purchases they buy during Black Friday. Gen Z fashion shoppers said they plan to return over one in four (27%) of all fashion purchases made during Black Friday Cyber Monday (BFCM), closely followed by Millennials, who are set to send back over a fifth (21%) of clothing bought during the discounting event.
Gen Z may be the highest returners, but they are also the biggest spenders on Black Friday fashion, with the average 18 – 25 year old planning to splash out £389 during the discounting event on clothing, shoes and accessories. This compares to the average UK shopper who plans to spend £239 on fashion during the Black Friday weekend, rising to £334 for Millennials.
Last year, total UK retail revenues from Black Friday were estimated to have tipped £12.3bn, up 8.3% year-on-year according to Mintel, with the cost-of-living prompting increased interest and spend amongst increasingly pricing and promotions sensitive shoppers. And this trend is set to continue into Peak Trading 2023, with the Institute of Practitioners in Advertising (IPA)’s latest data suggesting that 51% of UK consumers intend to spend during Black Friday and a third (33%) will spend up to a quarter of their total Christmas shopping budget on Black Friday Cyber Monday sales.
Jessica Arredondo Murphy, co-founder & COO at True Fit, said: “Black Friday through Cyber Monday present an annual opportunity for retailers to build both revenue and acquire new customers. However, with a sixth of their sales expected to be returned along with all the associated costs of reverse logistics and remerchandising that come with returned goods, a successful holiday season is about balancing sales with margin protection.”
“Our research shows fit assurance is the defining factor in online fashion conversions, and that fit is ultimately the key consideration as to whether a shopper keeps or returns an item. Getting the right size and fit to the consumer the first time is critical to win this holiday and build consumer trust and loyalty.”
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