Proper data monitoring can lower online return rates, says the Finery London co-founder
Luca Marini of Finery London
A quick, reactive approach towards data insight can lead to a significant reduction in fashion returns, Finery London co-founder and chief operating officer Luca Marini told delegates at Drapers Fashion Forum today.
Speaking at the event, held at London’s 30 Euston Square, he delivered a talk entitled ‘De-risking the Future’ in which he explained that womenswear etailer Finery reviews products within two weeks of launch with a particular emphasis on the items seeing the greatest return rates.
“Returns are the big skeleton in the closet. After two weeks [after] going live we try to predict what the returns rate of the product is and we try to fix it. Believe it or not you can fix it. I can’t stress how important that is for ecommerce.”
He added: “Our ecommerce team has to present the most returned products and tell us what they are going to do about it. That could be reshooting the picture, retouching, or taking the product offline. Every week we carefully review these products.”