Learn about the rising trend of online returns, explore the rapid growth projections for bathroom accessories and robotic lawnmowers between 2024-2028 and delve into Walmart’s latest initiatives unveiled at the Let’s Grow Seller Summit, Plus, see how Best Buy is enhancing customer experience with live delivery tracking and discover why retailers are pushing Halloween promotions as early as July
In this week’s news, explore the challenges of rising return rates and the promising market growth of home-oriented products. Learn about Walmart’s strategic moves for sellers, Best Buy’s innovative delivery tracking and the retail industry’s early embrace of Halloween. Plus, don’t miss the details on Dolly Parton’s upcoming cosmetics line. Visit our blog weekly for the latest updates in commerce and retail.
Return woes: Almost 39% of consumers return an online purchase once a month
Narvar's 8th Annual State of Returns Report highlights the increasing strain on retail margins due to rising ecommerce return rates, with nearly 39% of consumers returning online purchases monthly.1 Despite the $744 billion cost of returns in 2023, the report reveals that optimizing the returns process can unlock significant growth opportunities. "Retailers who invest in optimizing their returns experience can transform this traditionally costly and burdensome process into a significant growth opportunity," says Amit Sharma, CEO of Narvar. The report also addresses the growing challenge of return fraud, which has risen to 52% in 2024. By improving returns management, retailers can enhance customer satisfaction, drive repeat purchases and retain revenue through exchanges or store credits, with up to 60% of returns potentially converted. As ecommerce continues to expand, retailers that proactively refine their returns strategies will be better positioned to protect margins and foster customer loyalty.
These two home-oriented products are projected to grow swiftly between 2024-2028; here’s why
Both bathroom accessories and robotic lawnmowers are projected to grow swiftly between 2024-2028. The bathroom accessories market is expected to increase by USD 8.31 billion, driven by the growing awareness of sanitary and personal hygiene.2 The trend toward smart bathrooms, which include digital accessories like voice-activated faucets and temperature-controlled shower panels, is fueling this growth. However, the market faces challenges due to the long replacement cycle of these products. Despite these challenges, the market's focus on luxury interior designs, organization and premium features continues to drive its expansion, especially in developing regions where the potential for growth is significant.
On the other hand, the robotic lawn mower market is expected to grow by USD 1.63 billion,3 with a CAGR of over 19.64%. This growth is primarily driven by the increasing demand from the commercial segment and the development of smart cities. Robotic lawn mowers, powered by AI and integrated with smart city infrastructure, offer efficient and eco-friendly solutions for lawn maintenance. These devices address energy efficiency and pollution concerns, making them an attractive option in urban areas. However, the market faces competition from conventional lawn mowers, and the high initial cost of robotic mowers may hinder their widespread adoption. Nonetheless, advancements in technology, such as lawn mapping and smartphone integration, are expected to sustain market growth.
Walmart unveils several initiatives at its Let’s Grow Seller Summit
Walmart leaders announced significant initiatives at the Let’s Grow! 2024 Walmart Marketplace Seller Summit, targeting enhanced seller success and customer experience. Key developments include category expansion, multichannel fulfillment and streamlined selling features across markets.4
Tom Ward, Executive VP and Chief eCommerce Officer, emphasized Walmart’s commitment to becoming “the customers’ first choice – every day, every season, for every item.” Walmart Marketplace's consistent 30% sales growth over the past four quarters has been pivotal in driving Walmart’s eCommerce success, with U.S. eCommerce growth in double digits for six consecutive quarters.
Notably, Walmart introduced Premium Beauty, featuring brands like COSRX and T3, and launched "Resold at Walmart" for pre-owned goods. The Collector shop will now offer preorders and commission-free sales for certain collectibles through October 31.
Walmart also unveiled new fulfillment solutions, including the Multichannel Solutions program and Cross Border Fulfillment, and, ahead of the holiday season, Walmart is offering sellers various incentives, including waived storage fees and expanded Marketplace Capital for cash advances. “Sellers are looking for a smart path for growth,” said Manish Joneja, SVP of Walmart Marketplace and Fulfillment Services, highlighting the company’s integrated approach to fostering mutual growth.
Best Buy implements live delivery tracking
Best Buy announced a new live tracking feature, enhancing the delivery and installation experience for large products such as big-screen TVs and refrigerators.5 Leveraging AI and real-time data, the feature provides customers with to-the-minute tracking details, including a real-time map showing their driver’s location on the delivery route.
“Our new live-delivery tracking experience removes the frustration so many of us have felt when we’re given a window of time to wait around at home for an appointment or a larger delivery to arrive,” said Brian Tilzer, Best Buy’s Chief Digital, Analytics and Technology Officer.
The process is straightforward: customers receive a notification on the morning of their scheduled delivery with a four-hour window, followed by updates as the driver progresses. When the driver is near, the map zooms in to provide a detailed view, showing an estimated time of arrival down to the minute. This innovation aligns with Best Buy’s commitment to optimizing customer experience through technology, making the delivery process more transparent and convenient than ever.
How early is too early: Retailers embrace Halloween in July
Retailers are embracing "Summerween," an early Halloween shopping trend, with growing success as consumer demand for spooky season goods spikes earlier each year.6 Traditionally, the period between July 4 and Labor Day focused on back-to-school items, but now store shelves are filled with Halloween decor, even in midsummer.
Sales have surged, with many retailers ordering more Halloween products than ever. “We have already generated as much business in the last four weeks of Halloween this year that we did for the entire holiday last year,” said Beth Smith, managing director of Terrain. The National Retail Federation reported that last year’s Halloween sales hit a record $12.2 billion.
Retailers like Michaels and Home Depot have launched Halloween collections earlier, with Michaels debuting its “Hippie Hallow” collection in June, and Home Depot initiating its "Halfway to Halloween" event in April. Independent retailers and international brands are also benefiting, with Screamium in California seeing a tenfold increase in sales and the U.K.'s Smiffys experiencing a 5% sales boost. The rise of Summerween reflects shifting consumer behavior, as shoppers increasingly indulge in holiday spending well before traditional seasonal timelines.
Dolly Parton launches cosmetics line, with a full-store rollout scheduled for 2025
Global superstar Dolly Parton has officially launched her much-anticipated cosmetics brand, Dolly Beauty, with a special preview of the collection available exclusively on DollyBeauty.com.7 The in-store rollout is planned for 2025. Dolly Beauty debuts with the Heaven’s Kiss Lipstick collection, featuring four shades — Jolene Red, Honey Plum, Rosebud and Birthday Suit — encased in glamorous rhinestone packaging. "All of my life I’ve wanted to be pretty, and my new cosmetic line is going to allow me and you to be our very best," said Parton. "So, fly pretty, up, up and away. Enjoy!"
The launch is a collaboration with Scent Beauty, extending Parton's successful fragrance line. Steve Mormoris, CEO of Scent Beauty, expressed excitement, stating, "Dolly Parton embodies many generations of women who are excited to experience this connection to one of the world’s most beloved people. Cosmetics is an obvious category for Dolly which has been long awaited by her millions of loyal fans."
This initial release is just the beginning, with additional lip, eye and face products expected to launch throughout 2024 and into 2025, solidifying Dolly Beauty's place in the cosmetics industry.
