David Bernstein says, “It makes sense to implement a rigid return policy, doesn’t it? By requiring that products be returned for refund or exchange before a certain number of days pass, customers are likely to let the deadline pass without realizing. At least, that’s the basic idea (and hope) for strict policies. What if the opposite were true?

The Endowment Effect
If you give seven days, or even thirty days, for customers to try out a purchase before returning it, there is a chance that a few will miss that deadline. It’s just human nature. What about the rest of your customers, though? What about those who watch clocks and calendars, who take notes and make lists? Those are the customers who will send their purchase back immediately to avoid missing deadlines.

What if you gave every buyer a more lenient return policy? What if you, say, didn’t have a time limit at all? Those who would normally mark calendars would instead put their new purchase in a closet or drawer, promising themselves they would return it when they get a chance”.

Tired of Ecommerce Product Returns? Try a More Lenient Policy

HubSpot

Sharing is caring