Online shopping giants bet on AI to curb clothes returns

Share via:


From sizing advice via selfies to robot stock-takers, online shopping behemoths have increasingly turned to artificial intelligence in a bid to stem the flow of bad-for-business clothes returns. Up to 30% of fashion items bought on the internet are sent back, according to a late 2024 study by consulting firm McKinsey and the Business of Fashion website — not least because “clients are buying several sizes or styles and returning most of them”.

That practice drags down profit margins. Each returned package costs between $21 and $46 on average given…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

admin
admin
Hi! This is Admin.

Popular

More Like this

Online shopping giants bet on AI to curb clothes returns


From sizing advice via selfies to robot stock-takers, online shopping behemoths have increasingly turned to artificial intelligence in a bid to stem the flow of bad-for-business clothes returns. Up to 30% of fashion items bought on the internet are sent back, according to a late 2024 study by consulting firm McKinsey and the Business of Fashion website — not least because “clients are buying several sizes or styles and returning most of them”.

That practice drags down profit margins. Each returned package costs between $21 and $46 on average given…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

admin
admin
Hi! This is Admin.

More like this

Raisina Dialogue 2023: India, US have complementary strengths in...

India and the US have complementary strengths in...

M4 Mac mini may have been one of Apple’s...

Apple announced the redesigned Mac mini with M4...

Apple has quietly updated the HomePod mini with a...

Rumors suggest that Apple has been working on...

Popular

Upcoming Events

Indie App Spotlight: ‘Queue’ is a great podcast app...

Welcome to Indie App Spotlight. This is a weekly...

Google Pixel 9a vs iPhone 16e: Comparing price, performance,...

Two heavyweights of the smartphone industry have released...

DrinkPrime’s Mission to Fix India’s Broken Drinking Water Infrastructure

SUMMARY A smart, hassle-free alternative to bottled water and...
ERQW DAS VBXZC ERQW DAS VBXZC ERQW DAS VBXZC ERQW DAS VBXZC