One in four U.S. Gen Z Valentine’s Day gift recipients secretly return the item and get cash.
That’s the top finding from a SAP Emarsys research report regarding data on product returns. The survey, which polled 2,000 consumers in the U.S. also revealed Gen Z (ages 16-24) are almost twice as likely to return Valentine’s Day gifts as Gen X (ages 45-54), and five times as likely as baby boomers (ages 55 and over). Men are also more likely than women to return gifts without telling their partners.
Price is a factor when it comes to returns, according to a press release on the findings, as almost half (48%) of Gen Zers don’t bother to return gifts if they cost less than $10-$15.
The insight comes at a time when the rate of returns is rising, with the majority of Americans (86%) returning items over the past 12 months.
“Buying the perfect Valentine’s Day present isn’t easy, and retailers need to do everything possible to help shoppers get it right,” Sara Richter, CMO, SAP Emarsys, said in the release. “Personalization is essential, and retailers can leverage AI to recommend gift ideas that help shoppers find the perfect gift for their loved ones. If retailers can help shoppers get it right first time, they’ll not only see revenue gains, but also save time and effort on costly returns. Reducing returns is also an opportunity to elevate customer experience and strengthen loyalty, saving shoppers the embarrassment of returning a heartfelt gift.”
