Refunds rocket by 95% right after Valentine’s Day, new data from Worldpay shows
Atlanta, US – February 9th, 2017: Online retailers in the US can expect an influx of returns this year as Valentine’s lovers take just three days to start getting refunds on gifts they received from their significant others. New data from Worldpay shows that in the three weeks following Valentine’s Day last year, returns saw an impressive peak on February 17th, with Worldpay processing over 3,444 refunds, an almighty 95% increase compared to February 14th itself.
Clothing proved to be the least appreciated gift among loved ones, with apparel and footwear accounting for 99% of all refunds in the days following Valentine’s. Even the most experienced couples can struggle to find the perfect style for one another, and with so many different fits and sizes available in clothing, getting the right look may prove to be a potential minefield for those eager to impress admirers.
Casey Bullock, General Manager – North America, Global eCom at Worldpay said, “In the fashion industry, there is an increasing trend for returning among consumers. Thanks to the ease of internet shopping, people can simply buy a variety of gifts in numerous styles and sizes knowing that they can return what they don’t like. In order to find the perfect gift, we believe partners are buying more than one gift knowing they will return what is less than perfect for their better half. Fashion retailers must be prepared for the days following Valentine’s and get ready to process more refunds than usual.”
Bullock added, “The way we shop and make returns is changing. Through easy to follow guidelines and clear instructions, internet retailers should do all they can to make refunds as simple as possible in order to maintain customer satisfaction. Meanwhile, for those celebrating Valentine’s Day this year, if you’re still thinking you can find the perfect dress or shirt for your loved one; don’t say we didn’t warn you!”
About the data
Figures refer to Worldpay’s online retail customers transaction data from 02/01/2016-02/28/16. In 2015, Worldpay processed 13.1bn transactions for more than 400,000 customers.
For more information please contact: WorldpayeCommTeam@Golin.com
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Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types, by providing an end-to-end service including acquiring, treasury, gateway, alternative payments and risk management, all via a single integration to Worldpay.
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