The sales figures for last month’s sales event – and those of Cyber Monday –were higher than expected, with Barclaycard Payments reporting transactions up 3.2 per cent on last year. But the latest data shows consumers have also been more selective about what they keep and are quicker to return items this year.
Much of this has been linked to the cost-of-living crisis making people rethink costly purchases.
Retail returns expert ReBound, which works with major retailers including ASOS, River Island and Crocs, found a 26.6 percent rise in returns for November compared with last year.
Several stores extended sales over the week before Black Friday, with some offering month-long discounts. And the figure for returned goods was even higher worldwide, with a
60 percent increase after the Black Friday weekend compared with 2021, according to ZigZag Global.
Laura Garrett, returns expert at ReBound, said: “Spikes in returns always follow sales, as impulse purchasing on a good deal leads to buyers’ remorse.
“But the initial results show 2022 is likely to be a record year.”
She added: “Despite retailers spreading sales across the month to avoid the logistical nightmare of a one-day spike, the volume of returns will pile extra pressure on those who have to turn products around in time for Christmas.
“Against a backdrop of strikes by Royal Mail, retailers are likely to be feeling the pressure.
“And the cost-of-living crisis is clearly playing a major part in this.
“The impact of energy bills and mortgage rates rocketing have seen buyers thinking twice about their purchasing choices.”