Heikki Haldre, co-founder and chief executive of virtual fitting room provider Fits.me, said: “There is always a rush in January to proclaim Christmas a success or a failure – even official bodies like the ONS publish provisional December figures by mid-January.
"This strikes me as simply too soon to guarantee any kind of accuracy; in borderline cases there is a risk that shareholders may be led to believe Christmas sales were up, when in fact net Christmas sales were down.”
“Why? Because, in every sector, the return rates associated with online sales are higher than return rates for offline sales. For clothing, the rate is an average of five times higher – 25% online versus 5%.
This means that even an average retailer, now seeing online sales accounting for 22.5% of sales compared with 19.7% last year, will need to sell 0.62% more garments in order to ensure the same net – that is to say post-returns – sales,” he explained.
In January 2013, the ONS estimated that, compared with December 2011, the quantity of goods bought (all retailing seasonally adjusted sales volumes) in December 2012 had increased by 0.3%.
So, while 0.62% may seem a small percentage, it would be more than enough to turn an apparent increase in retail sales into a damaging decrease if similar trading conditions are experienced in December 2013.
Fits.me provides virtual fitting room solutions for clothing retailers that help to deliver an online buying experience similar to the offline experience – specifically by enabling shoppers to try on clothes “virtually” before they buy.
This largely eliminates the biggest single reason (“fit”) why shoppers later return garments bought online, contributing to a significant reduction in overall garment return rates.
Textiles | On 13th Dec 2018
The National Council of Textile Organisations (NCTO) board of...
Apparel/Garments | On 13th Dec 2018
At least a dozen Asian garment manufacturing companies will start...
Textiles | On 13th Dec 2018
Pakistan is evolving export-oriented policies and is committed to...
Textile industry, India
The event should be organised every year
‘Indian footwear market is nascent and largely a trend follower’
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016
'Major problem in the textile machinery manufacturing industry is the lack ...
Established in 2005, SL Banthia Textiles manufactures coated fabrics....
Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....
Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Statex Produktions & Vertriebs GmbH
Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...
University of Texas -Dallas
<div>A team of scientists and researchers have discovered twistrons,...
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...
India Boulevard is a San Francisco-based curated fashion marketplace that...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...