Have you ever wondered why it is you avoid some stores and favor others? Is it the products, the customer service or the prices? Well Promocodes.com, with help from global market research firm Research Now, has the answer.
We surveyed 1,000 Americans about the factors that determine how they shop for holiday gifts for others and their personal habits when shopping for themselves. While there are numerous possible reasons why you might favor shopping online versus in-store – or why you might never return to a certain retail store – we found return policies are a major factor for most consumers.
More than 63 percent of consumers would not frequent a retailer with their business after having a negative return experience. For retailers that means a bad return policy is bad for business. With consumers spending nearly $1000 on gifts this holiday season, as reported by the National Retail Federation, retailers can’t afford to lose revenue during the biggest shopping season based on their return policies.
As shoppers, what do we look for in return policies? When shopping both in store and online consumers want the option of a full refund for the item, not just store credit, which they consider “unfair.” When it comes to online shopping, consumers say free return shipping is a must-have. And whether or not you manage to hang onto your original receipt, as consumers you expect retailers to always honor your returns with a full refund on the list price.
Do you refuse to shop at certain stores? Have you thought about the factors and experiences that led to those decisions? The next time you shop online or in store, consider the retailer’s return policy and become familiar with more than just the price tag.
- Do they offer full refunds?
- When you order online, do they provide return shipping at no cost to you?
- Do you need proof of purchase or the original payment method when you return?
- Is there a major time limit for returns?
Knowing these answers when you go on your next shopping spree will help you avoid giving the most dreaded gift of all: one that can’t be returned.