Buyers want a longer window to make returns
Barclaycard research suggests that shoppers want more options when it comes to returns but that retailers are struggling over returns and that’s impacting the bottom line.
2000 consumers surveyed shows that 57% of retailers give refunds regardless of product condition to keep shoppers sweet. The report says that, excluding damaged or faulty stock, 26% of the returns are unfit for resale.
40% of retailers say they don’t offer free returns to discourage ‘serial returners’. But more than a third of shoppers are put off shopping if you can’t make a free return. 40% want a longer window to returns their purchases.
Barclaycard customer solutions director Sharon Manikin said: “Our research demonstrates that offering a good returns policy can help retailers attract and retain customers. However, it’s also crucial to be clear on when customers can and can’t return items to limit the amount of unsellable stock. This will be particularly important in anticipation of major shopping events such as Black Friday, when retailers are likely to see a spike in sales and, subsequently, returns.”