What is a Refund and Return Policy?
A Refund and Return Policy is an agreement to inform the customers about policies regarding refund and return of goods or services offered. Due to refund and return policy, it gives a clear proof that the ecommerce website or store is genuine and also helps the customers to trusts the ecommerce website and its products.
The refund and return policy that you place on your website needs to be simple and easy to understand. By developing a proper refund and return policy helps the ecommerce owner to increase the purchases of their products. The question of refund or return policy should be one which the customers will have in their mind before making any purchases online.
Even though the customers may not be satisfied sometime with the purchase but due to the simple and smooth refund or return policy he will keep a continued flow of purchasing products from the same website.
What are the key items to be covered in the refund and return policy?
- Number of days within which a product can be returned
- Method of refund (credit or replacement)
- Days within which product will be refunded or replaced
- Who will pay for the shipping costs
Need of refund and return Policy?
- If you want to be successful in your business, you need to have Refund and Return policies. Unless and until you don’t give refund or returns policies how will you gain trust of the customers. This is the most important thing which the customers will have in their mind before making any purchases online.
- Due to easy and simple Refund and Return policy customers will definitely purchase such products which they haven’t tried before.
- Also if you collect any kind of personal data from your users (e.g. email addresses, name, etc), you are required by law to have this agreement.
Few tips for Refund and Return Policy:
- Use simple and easy language
- Do not copy paste from other websites
- It should be easily visible
- Policy should be clear and straightforward
- Also train your staff properly so that each and every person should be able to help the customer.