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April 26, 2024
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Apparel and accessories

Online apparel purchase returns to cost US retailers $38B in 2023: Coresight

May 25, 2023

Return purchases in the United States is currently worth $38 billion, causing companies to rethink current shopping experiences and systems. Image credit: Adobe Return purchases in the United States is currently worth $38 billion, causing companies to rethink current shopping experiences and systems. Image credit: Adobe

 

By Emily Iris Degn

Consumers are increasingly making returns online, causing apparel brands and retailers to take a massive financial hit.

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  1. 42pc of American luxury shoppers buying high-end items as 'rewards': YouGov
  2. Mercedes-Benz adds celebrity touch to G-Class rollout
  3. La Mer appoints first male brand ambassador
  4. YSL Beauty adds Bahamas, Colombia to rewilding project scope
  5. Double-digit growth streak continues at Hermès
  6. Prada Group sees first quarter sales rise 16pc
  7. Porsche named official electric vehicle of 2024 Met Gala
  8. LVMH, CFDA launch Earth Week video series
  9. Tod’s unveils ‘Art of Craftsmanship’ exhibition at Venice Biennale
  10. Bon Appétit out with first ‘Drinks’ issue in over 50 years
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