How to Implement a Return Policy That's a Win for Both You and Your Customers
Every business that is selling services, products or virtual products has faced a customer asking for a refund, exchange or to return an item for a refund. It’s part of doing business offline and online. Just in the United States, Statista estimates return deliveries will cost businesses $550 billion by 2020—a 75.2% increase from four years earlier. Plus, nearly 41% of shoppers buy with the intent of returning.
Customers might be unsatisfied with their order for a number of reasons – it arrived damaged, they ordered the wrong size, or it simply didn’t meet their expectations. So they ask for a replacement or for their money back.
But without a proper system for handling them, these requests can eat up a lot of time, energy, and money with hours spent on customer service emails and spikes in shipping expenses for replacement products, especially after the holidays.
The good news is that it’s never too late to address the problem. With a great return policy and the right system in place, returns and exchanges can be transformed from a dreaded aspect of ecommerce into an opportunity that actually generates new profits for your business and increases customer loyalty.
But before we dive into how to write a return policy for your store and implement a system to handle requests, let’s talk about why it’s so important to get returns and exchanges right.
Read more here.