MarTech Cube

Signifyd unveils its latest data on European consumer return trends

Commerce protection provider Signifyd unveils its latest data on European consumer return trends, revealing a crucial consideration for retailers in today’s evolving economic landscape.

The research, conducted recently by OnePoll across Europe, highlights a key insight: While inflation may be easing, cost-conscious consumers prioritise retailers offering flexible return policies and payment options. This underscores the importance of going beyond the “buy now” button and focusing on the entire retail life cycle, from delivery to return.

With returns globally costing retailers more than $700 billion in 2023 and projected to cost nearly $1 trillion by the end of the decade, retailers need innovative strategies to manage the process effectively. Beyond the rising cost of legitimate returns, any future-focused strategy must account for fraudulent returns. The challenge is growing rapidly, given that the adoption of SCA has made traditional payments fraud more difficult.

Key Findings:

The research serves as a warning to European retailers not to rely on customer experience ending with the purchase; instead, they need to account for the full retail life cycle through delivery and possession.

Davide Antonelli, GTM at Signifyd said, “Our research highlights the complex challenges retailers face in today’s evolving consumer landscape. Offering seamless, customer-centric experiences and flexible return options is crucial. Equally important is implementing robust fraud prevention strategies to tackle the growing issue of fraudulent returns. Adapting to changing consumer expectations and prioritising both customer satisfaction and security enable retailers to thrive in this dynamic environment.”

Methodology

Results of this research are from a survey of 8,000 adults aged 18 and above, split evenly across the UK, Spain, Italy and France. The research was conducted in February by OnePoll on behalf of Signifyd.

For more such updates, follow us on Google News Martech News