ecommerce returns statistics

; Amazon sales made up a third of all US eCommerce … However, this doesn’t mean you can abandon your promotions. All of this has an effect on retailers’ profit margins, and some sectors suffer more than others. While you can’t avoid returns altogether, using these strategies can reduce the total number. The US eCommerce market amounts to $365.2 billion . Additionally, paste this code immediately after the opening, *This information has been compiled from many sources both internal and external of The Returns Lab, 20% = The minimum amount of e-commerce products returned, 8.9% = The average amount of products returns to retail stores (brick and mortar), 20% to 65% = The average cost of processing returns from the cost of goods sold, 49% of retailers offer free product return shipping, 92% of consumers will buy something again if returns are easy, 79% of consumers want free product return shipping, 67% consumers will check the returns page before purchasing, 47% of consumers want an easy-to-print return label, 27% of consumers would purchase an item over $1000 if the returns were free, 33% of consumers expect a prepaid return shipping label with their order, 50% of online shoppers are dissatisfied with past returns processes, 2 Weeks is the amount of time it takes for consumers to receive credit for a return. ; eCommerce accounted for 57% of retail gains in 2018 . Current sales value of eCommerce retail sales is $294 million and might hit $414 by 2018. Shoppers spent a whopping $4.2 billion on Thanksgiving last year. There’s certainly much to be thankful for. A … Each year’s festivities outdo those from the year before, which is especially needed in a year like this one. What you need to know for the holidays is that it’s peak returns season. It is vital to know the reasons and statistics behind and form strategies accordingly to avoid any losses and to … In fact, FedEx CMO Brie Carere said the carrier has experienced Black Friday/Cyber Monday level shipping volumes nearly every day since March. Theme Options > General Settings > API Integrations, Thanksgiving ecommerce statistics for 2020, ecommerce returns can increase customer loyalty, Get Your Ship Together for the Holidays—And Do it Sooner Than Usual, ASEA Goes Home Early Thanks to ReadyShipper X’s Breakneck Speeds & Uptime, How Shopify Plus is Disrupting the Shopping Cart Services Industry, 5 Emerging Trends in Social Commerce You Need to Know About, Pricing Starts at $24/mo | Contact Us - Click Here. Unfortunately, the rate of returns of online products … eCcommerce is one of the most profitable industries in the … E-commerce return rate by industry in 2019 The statistics reflect that fashion items and accessories are the most returned productsin European countries with an average return rate of 19%, while films and DVDs are the least returned ones. It’s a particular problem for online retailers, according to Paazl. Data from Salesforce shows these volumes are roughly 5% more than what our current shipping system can handle. Nearly one-quarter (24%) of Thanksgiving sales are contributed to paid search ads. According to recent research from the NRF, 42% of consumers began their holiday shopping early this year. If you have lots of repeat customers who know your merchandise, your e-commerce returns are likely to be lower than the average. Demographics 1. Ecommerce Statistics. Ecommerce statistics: Returns 42% of US online shoppers have returned an item they bought online in the last six months. Augmented Reality (AR) has become a … Ready to take advantage of the returns rush and make those second-chance sales? For starters, Amazon’s Prime Day was delayed from July to October and gave consumers an opportunity to make some (if not all) of their gift purchases well before the “official” start of the holiday season. FedEx in particular expects to deliver more than 7 million packages per day, and total holiday deliveries across all carriers will skyrocket upwards of 700 million. Don’t miss our guide to Cyber Monday for online retailers. Mobile orders comprise 45% of Thanksgiving sales. It’s been at least six months since consumers made the shift toward shopping online, and ecommerce is still going strong. We’re starting with the best news and that’s holiday sales (defined as sales made in November and December) growing between 3.6% and 5.2% year-over-year. Even with brick-and-mortar stores reopening, there is a greater preference for virtual holiday shopping than ever before. Don’t be let down by these single-digit numbers—the jump pushes sales totals to anywhere between $755.3 billion and $766.7 billion. E-tailers are preparing for “Shipageddon” by running holiday promotions in advance, shipping early to create a buffer and setting cutoff dates for customers. Several pandemic-related factors are already impacting this year’s holiday shopping timeline. Ecommerce Return Statistics There are a number of ecommerce return statistics that truly illustrate the importance of having an intuitive and easy return policy. Thanksgiving sales will dramatically rise by 49.5% to reach $6.18 billion, despite several retailers being closed. Press Release | August 28, 2019. 92% of consumers surveyed said that they will buy again if product return process is easy whereas 79% of consumers want free return … Consumers return products mostly for these reasons: Products not matching their online descriptions, The customer changed their mind and no longer wants the product. Add hassle-free automated returns to your site today! In 2016, Ecommerce Europe issued a ‘Ecommerce Benchmark & Retail’ report [ pdf ], which included interesting statistics on online returns in Europe. ReadyShipper X is Revolutionary hybrid-cloud shipping software that leaves your browser based system in the dust! This year’s numbers are now live, and let’s just say things are looking up for online retailers who may have had a tough 2020. This report summarizes 2017 e-commerce statistics on shipments, sales and revenues from four sectors of the economy. It’s a reality of selling online, and it’s best to embrace the returns. … Gifts might not work out for one reason or another, and buyer’s remorse sets in once the magic of the season has faded away. Your return rate will depend on the type of item you sell and the type of customers you sell to. The experts project growth across most areas except for brick-and-mortar, which is to be expected. A global October 2019 survey of e-commerce decision makers revealed that 56 percent of e-commerce companies planned on offering free returns in 2020. Aim for a 20% or larger discount and add some pizzazz to your site, so you can capture consumers’ attention. Fulfill customer expectations. In par with the previous mentioned ecommerce returns statistics, 81% of shoppers want simple, fast and easy returns. Augmented reality enhances the reality of online shopping. But your e-commerce return rate can go up by as much as 50% over normal after the holidays. This year’s. E-commerce Product Return Rate – Statistics and Trends [Infographic] Posted in Ecommerce, Infographics. #GoHomeEarly. (Statista) That’s about 25% of the … 40% of retailers say they have adjusted their return policies during the COVID-19 pandemic. At least 30 percent of products ordered online … This will offset the decline seen in the brick-and-mortar category. By Cyber Monday, expect sales to total a healthy $39.1 billion. As every e-tailer knows, with increased sales comes increased returns. The State of Ecommerce Returns. Popular carriers like FedEx, UPS, USPS and others are already under strain, so they’re eyeing the holidays with dread. General Ecommerce Market Statistics. Both brick-and-mortar and online retailers have responded by offering promotions ahead of the traditional Black Friday doorbusters, which shoppers have gladly welcomed. Every year, merchants wait on tenterhooks for the NRF (National Retail Federation) to release its projections for the holiday season so they can prepare accordingly. Did you miss our roundup of must-know Thanksgiving ecommerce statistics for 2020? Current sales value of eCommerce retail sales is $294 million and might hit $414 by 2018. 49 million American shoppers bought online last Thanksgiving. As every e-tailer knows, with increased sales comes increased returns. ; eCommerce revenue in the US has grown by 65% in the past 3 years . Spanish consumers return … We talk a lot about how ecommerce returns … General Ecommerce Statistics Small retailers may see up to 30%  higher mobile conversion rates compared to large retailers. We talk a lot about how ecommerce returns can increase customer loyalty, longevity and overall satisfaction, but that’s a topic for another time. Respondents had only completed 26% of their holiday shopping, on average. What’s more, it also protects supply chains from being overwhelmed. 2020 Ecommerce Holiday Sales Statistics: Consumer Demand Drives Up Numbers, /wp-content/uploads/2019/10/octlogoret.png, /wp-content/uploads/2020/11/2020-ecommerce-holiday-sales-statistics.jpg, Every year, merchants wait on tenterhooks for the NRF (National Retail Federation) to release its projections for the holiday season so they can prepare accordingly. Additionally, retailers have been launching their holiday promotions earlier and earlier each year—first to compete with Black Friday deals and now to spread out demand. Clothing and shoes are returned at th… Turkey Day is a huge sales day, giving small businesses a 61% sales lift. There Were 1.8 Billion Global Digital Buyers in 2018 (Statista) As of writing, there … By the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion. USA. E-commerce product return heavily impact the business and is a cause of worry. ; The size of the US eCommerce market is expected to grow to $600 billion by 2024 . This weekend’s slice of the holiday ecommerce pie grows each year, and it’s expected to capture 20.5% this year. For those that have been to a physical store, 70% have been satisfied with the precautions, and 69% have been able to find all or most of what they were looking for. Returns are an opportunity to get ahead. Top Ecommerce Return Rate Statistics (Editor’s Choice) 48% of online shoppers said they returned an online order in the last 12 months. It’s a reality of selling online, and it’s best to embrace the returns. Returned holiday gifts can be a big headache for e-commerce retailers. Another interesting trend revealed by the Return Magic … What’s more, the higher end of that range outpaces growth between 2018 and 2019 (4%, to total $729.1 billion) as well as the growth average over the last five years (3.5%). Desktop conversion rates soar to 6.4%, followed by tablets (5.5%) and mobile (3.2%). While brick-and-mortar return rates average between 8 and 10%, ecommerce return rates come in at more than double that at 20%. The Cyber Five will only see a slightly larger slice of the holiday sales pie, but each day is forecasted to break its own records. Fulfill customer expectations. 69% are deterred from buying online by having to pay for return shipping and 67% by restocking fees ( Narvar, 2018) 90% “highly value” free returns ( Dotcom Distribution, 2018) 96% … This is a 39.4% increase year-over-year, even as the deals have gotten hotter with retailers attempting to capture more market share. EMarketer predicts a 35.8% jump in online purchases from 2019, bringing ecommerce spending totals to $190.47 billion. Online retailing has soured over the last decade. Get ready for the rush by following this checklist: Need even more tips? Experts predict it will be a strong day for “couch commerce” with consumers shopping on their mobile devices. Here are the CliffsNotes: The second day in the Cyber Five, Black Friday is set to have its first $10 billion spending day in 2020. However, in a year with so much uncertainty, it’s interesting to see the continually rising consumer demand. There are more than 2 billion online shoppers worldwide in 2020. It’s shaping up to be a holiday season unlike any other, but ecommerce sellers have a massive opportunity to take advantage of the increased consumer demand and the newfound familiarity with online shopping. E-commerce return rates have never been bigger, having grown by 95% over the past five years, while return deliveries are estimated to cost businesses $550 billion by 2020. The eCommerce US return rate was $400 Billion in returns in 2017 (+53% over 2 years) 10% of holiday sales are returned — In fact, December 26th is the biggest day for returns Returns from brick-and-mortar purchases are at an average of 8%… while eCommerce returns … Let’s look at these key holiday sales statistics, so you can be ready for the most wonderful time of the year. New U.S. Census Bureau Product Shows Detailed E-Commerce Data The Supplemental Quarterly Retail E-Commerce table is a new experimental data … What’s an average ecommerce return rate? For those shopping online, a large majority (84%) are confident their gifts will arrive on time. 8.9% = The average amount of products returns to retail stores (brick and mortar) Unsurprisingly, health and safety is a top concern for both retailers and consumers. Did you know at least 30% of all products ordered online are returned as compared to 8.89% in brick-and-mortar stores. As e-commerce grows (with its much higher rates of product returns), the cost of returns and exchanges is becoming an increasing and unsustainable issue for more and more brands. … Between 15% and 40% of online purchases end up returned. ReadyShipper X is Revolutionary hybrid-cloud shipping software that leaves your browser based system in the dust! Last year, U.S. ecommerce return delivery costs were estimated at $381 billion, Statista reports; this figure is predicted to reach $550 billion by 2020.Easy online returns are partly responsible for the rapid growth of ecommerce. Offering discounts throughout November and December tempers the Black Friday rush and keeps shoppers from crowding stores during a time when social distancing is crucial. ; eCommerce sales made up 16% of all retail revenue in the past 10 years . Though the upswing of ecommerce is great news for online sellers, it’s a nightmare for shipping companies that are struggling to keep up with demand. The total return percentage per industry is highest … All these factors have moved the holiday shopping timeline up considerably and has placed emphasis on the Cyber Five—the period from Thanksgiving Day through Cyber Monday. E-commerce returns The Return of the Package ... updated daily and featuring the latest statistics from the media, internet, telecommunications and consumer electronics industries; and … While returns rates to stores are around 8… Products that require a certain fit, like apparel and footwear, will have an understandably higher return rate … Unfortunately, the rate of returns of online products is alarming. And many will search for these before deciding to do business with you. An inconvenient returns policy deters 80% of shoppers. According to Invesp inforgraphic on online return rates statistics… Of those surveyed in early November, 59% had already made at least one purchase (up 21% from 2010), but there was plenty more shopping yet to do. Fact, FedEx CMO Brie Carere said the carrier has experienced Black Friday/Cyber Monday level shipping volumes every! And consumers get your ship together for your online store ordered online are returned as compared to %. 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