Daily LInks
1. Retailers Hope Virtual Try-Ons, Clothing Rentals Cut Down on Returns: In 2020 overall, consumers returned $428 billion of merchandise in 2020, representing approximately 10.6% of all retail sales made. This rate of returns was in line with other recent years, though online returns more than doubled between 2019 and 2020. – Read More on PYMNTS
2. What Secoo’s Decline Says About China’s Luxury Market Today: The company’s challenges, from the high cost of traffic generation to competition from tech giants like Alibaba, reflect a dramatic change in China’s luxury e-commerce market. – Read More on Jing
3. L Catterton Seeks Nearly $7.8 Billion for New Funds: Consumer-focused private-equity firm L Catterton, which has backed brands like Kodiak Cakes and Birkenstock, is pitching its latest buyout fund to investors with the aim of raising $6.5 billion, according to people familiar with the matter. – Read More on the WSJ
4. RELATED READ: From Everlane to Equinox, a (Running) Timeline of the Investments of LVMH-Affiliated Private Equity Titan L Catterton. Here’s a look at the timeline behind L Catterton’s quest to build “iconic and enduring consumer brands,” which has seen it make more than 200 investments in leading consumer brands across all segments of the consumer industry. – Read More on TFL
5. Stitch Fix shares crater as retailer cuts forecast, despite topping earnings estimates: The number of active customers using its services fell short of expectations, hinting at slowing demand. A recent promotional offer resulted in a wave of new customers who briefly joined Stitch Fix but didn’t stick around, it said. – Read More on CNBC
6. U.K. retail sales rose in November, boosted by discounts on clothing: “As people prepared their wardrobes for the cold weather this winter, consumers took advantage of discounted clothing, shifting the focus of Black Friday from just electronics and household appliances.” – Read More on MarketWatch
