No retail strategy would be complete without a customer service and return policy. Retailers take very different approaches to this, and the successful ones often incorporate their policies directly into their branding. Nordstrom, for example, is famous for its extremely liberal return policy, while a big box retailer such as Best Buy may have a very restrictive policies.
More important then the policy itself is the transparency and communication of your return restrictions and service options. As my group — Doba’s Marketplace team — manages product fulfillment and returns between suppliers and Doba-affiliated retailers, I know first-hand the process and impact that a retailer’s policy (or lack there of) has on their business and how that translates into a likelihood of success or failure.
There are many aspects you need to consider when creating and implementing a return policy. For many retailers, the best place to start is to look at your own expectations as a consumer and choose merchandise, suppliers and marketplaces that match up with your own personal philosophy. Others should take a more pragmatic approach. The category (electronics versus clothing), the marketplace (your website versus eBay/Amazon) and your product pricing strategy all affect a return policy in different ways. Continue reading »
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