What is Your Return Policy?
Do you take a Nordstrom’s approach to your return policies? If you haven’t heard the legendary tale of a customer who successfully returned a tire to Nordstrom’s – you should read about it here. As the tale goes – Nordstrom’s doesn’t sell tires, but keeping with the businesses customer is always right policy – the retailer returned the tire with no questions asked. While I think it’s safe to assume that most online shoppers aren’t looking for your business to offer such a lenient return policy – consumers are increasingly expecting retailers to offer a return policy that is fair and in most cases free for them to return items.
Recently reported by Twice a study by Forrester Consulting found that “Returns policies are a bigger factor in consumers’ online buying decisions than most retailers realize. Businesses [that] make it easier and less expensive for customers to return their products derive an advantage over competitors — and are likely to, in the long term, see increases in sales, customer loyalty and incremental revenue.”
Consumers overwhelming expressed appreciation for online stores with more liberal return policies. 81% of those surveyed said they are more likely to buy from a retailer, if the online retailer makes it easier for them to return a product. Today is a great day to look at your return policy and find ways to make it more appealing for Online Holiday Gift Shoppers.
- Can your business offer free return shipping on returned items?
- Can your business increase the time frame you give to shoppers to return items during the Holiday Season?
This Holiday Shopping Season will be unlike any other shopping season seen recently. With many looming economic questions – comparison shopping will be put to good use by many bargain hunting shoppers. It is now a good time to review your returns policy and see what changes can be easily implemented to give your business a bump in sales. Give your team at Leverage Marketing a call when you make changes to your businesses return policy – the change in policy could provide a great boost to your website’s online sales.