Daily Data Dive

PYMNTS Daily Data Dive: Slow Delivery’s Cost

A study by on-demand delivery platform Stuart recently found that 88 percent of U.K. shoppers want better delivery services from local retailers and that only 4 percent of U.K. retailers offer same-day delivery options.

In the U.K., 72 percent of online shoppers would spend more at local retailers if same-day delivery options were provided. This amounts to about £4.9 billion ($6.08 billion) in total annual revenue lost. The survey also found that 62 percent of U.K. customers are willing to pay a premium for same-day delivery, which could add up to as much as an additional £94 million ($116 million).

U.K. consumers will return £59 billion ($73.3 billion) worth of items each year, and an additional £3.2 billion ($4 billion) of unused merchandise remains unreturned. They take 4.2 days to begin returning items.

Here are the numbers:

88 percent | Percentage of U.K. customers who want better delivery services from local retailers

72 percent | Percentage of U.K. customers who would spend more if same-day delivery were provided

4 percent | Percentaage of U.K. retailers who provide same-day delivery

$6.08 billion | Amount that could be gained if U.K. customers were to shop more

$94 million | Additional amount that could be gained by charging for same-day delivery

4.2 | Number of days it takes for customers to begin the returns process

$4 billion | Estimated value of unused merchandise sitting in U.K. homes

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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