Refunding sounds like business loss, but research shows that convenient returns policies may increase sales.
According to a poll conducted by Harris Interactive, 92% of participants said they will use online or mail order stores again if their returns policies are clear and simple. Moreover, 85% of participants say they will most likely avoid using businesses with unfriendly returns policies. So, if you make customers happy by accepting occasional returns, they will remain customers, and you will make more money in the long run.
Clear and Simple
The most customer-friendly returns policy is L.L.Bean's "return anything, anytime," which is as simple as you can get. All you need to do is to print out a return label and send the product back with it. However, commonly, returns policies require consumers to meet multiple conditions in order to receive a refund. Actually, a company's returns policy is a business chance; it is possible to outperform competitors just by having a customer-friendly returns policy.
Unfortunately, there are people who will take advantage of a friendly returns policy. Since you cannot completely avoid these leeches, you must grit your teeth and accept some business losses, while focusing on honest customers. L.L.Bean has had a customer-friendly returns policy for 100 years, and you should also be able to profit by treating your customers well.
© July, 2012