During the returns season, the fashion and beauty industries are expected to be heavily impacted, with an estimated £232 million worth of gifts predicted to be returned across the UK, according to a recent survey conducted by the Post Office. The survey, which interviewed 2,000 people, revealed that nearly one-third of consumers plan to return, re-gift, sell, or donate their Christmas presents.
Clothing and footwear are at the top of the list of items most likely to be returned, with 21% of respondents stating their intention to return these types of items. Non-electrical beauty products ranked second on the list, with 18% of respondents planning to return them. These returns pose additional challenges for small and independent businesses, as over 40% of returns are sent back to them.
Interestingly, the survey found that young adults between the ages of 18 and 34 are the most likely to return gifts, with 10% in the 55 and over age group also planning to do the same. On average, each returned gift is valued at £74, and those returning gifts typically give back two items.
When asked about their reasons for returning gifts, 20% of respondents said they did so to manage their cost-of-living pressures. Additionally, 28% stated that the gifts they received were “wasteful” and did not align with their preferences. Another 32% said they simply did not need the gift they were returning, and 40% said they knew it would never be used. Interestingly, it was found that those over the age of 55 were most likely to return gifts for these reasons.
Kristian Latham, head of letters and parcels at the Post Office, emphasized the importance of their role in handling returns. He stated, “We continue to see significant increases in return volumes following the Christmas period, as customers trust us to return their unwanted gifts safely – particularly important as our research shows many are returning and selling unwanted presents for much-needed cash.”
As returns season reaches its peak, it is evident that the fashion and beauty sectors will bear the brunt of this phenomenon. Businesses, especially small and independent ones, will face increased challenges due to the high volume of returns. However, for consumers, returning gifts provides an opportunity to manage their expenses and ensure that they receive something that aligns with their needs and preferences. And while returns may cause temporary strain on businesses, the Post Office’s role in facilitating safe and efficient returns is invaluable to both consumers and retailers alike.
Useful links:
– Post Office Guide to Returning Unwanted Items
– BBC article on the Rise of Gift Returns
