For many companies the most effective marketing investment might be to evaluate their return policies and provide specific customer service training to employees at the return desk.
Stanley Spering Kresge, founder of the Detroit based S. S. Kresge Company that would become Kmart, believed that less than one percent of customers would take advantage of a company’s propensity to take returns without questing the shopper. Recent surveys provide light on his theory.
Tada.com surveyed 7,023 shoppers immediately after they checked out of 2,928 online retailers. They found that 49% of women and 43% of men would not support a store with an inadequate return policy.
Deny a refund and more than 21% will vow to never shop with you again while another 12% will only shop with you if your prices are the best in town. There were eight in ten that took responsibility for the denied return saying they should have been more aware of the refund policy.
For the full survey, click here.
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