Do you run an online store of any type? Then you know the pain of customer returns and refunds all too well.
Most people are aware that returns are not pleasant, and you are not required by law to create a returns and refunds policy for your store, but there are very good reasons to have one. First, having a returns policy in your store helps you build customer trust easily. Vendors and stores that do not offer a returns policy are seen as a big red flag, even when they have legitimate reasons for not offering returns, so having a returns policy removes this risk.
Having a returns policy can also help you to increase sales precisely because it builds trust. This is because more than half of potential customers will check a store’s returns policy right before they place an order. A returns policy will save you and your customers a lot of of back and forth because it lets customers answer any questions they might have about the conditions under which you process refunds. A returns policy is also proof that you run a professional business because it is one of those policies customers expect to see on an online store.
Lastly, a well-formatted returns policy will help you to combat fraudulent returns because you can use it to state that you keep track of returns to prevent refund abuse.
Do you need help coming up with an effective returns and refunds policy for your store? Then contact us and we’ll do it for you!