How Effective is Your Return Policy?

Legally, retailers are not required to accept returns on items that are not damaged.The problem is that without a good return policy in place, it might be difficult to maintain good relationships with your customers.If you are a retailer, either online or in an actual store, there are a few things that you need to keep in mind when you are forming your return policy.

Here are a few key things to remember:

–          The types of services that you have to offer

–          Types of compensation for returns; including exchanges and merchandise credit

–          Proof of purchase requirements

–          Time restrictions for returns

–          Exceptions for returns; including final sale items

–          Type of currency used for refunds

–          Refunds on gifts or holiday items

–          Shipping charge refunds

–          Restocking fees

When you have a return policy in effect, it is important that your sales staff is trained and kept up to speed on the regulations.They also need to remind customers to hang on to their receipts in case they need to return something.All receipts should have a return policy printed clearly for customers to see.

Here are a few other tips to keep in mind:

–          Keep your return policy in plain sight

–          Revisit your return policy each year to make improvements

–          Use returns as a chance to sell something new

–          Look for ways to keep your clients happy

–          Consider offering merchandise credit instead of a refund

It is also very important that you verify the identity of your clients when they are doing returns.Returns can be an easy way to become a victim of fraud or theft.Ensure that you do your research on the statistics of return fraud so that you can be aware of it ahead of time.