When you have a money-back guarantee policy you will appear like a trustworthy company in the eyes of your prospects and customers. On the other hand, this might not be a good option if you are selling products with an expiration date or perishable products. Your customers will definitely appreciate this additional information. The downsides of having this kind of policy are more work for your finance and customer service departments, and, unfortunately, exposure to manipulation some people like to get their hands on the new stuff, experience it, return it and get their money back.
The potential gains are far higher than the risks it involves. BlueHost offers a very simple day money-back guarantee for their digital services. It's very flexible by not charge their clients for more than what they have used or some of the non-refundable items such as domain names. PlayStation has a very straight forward and short refund policy with just a couple of conditions that are typical for digital service providers.
Items from Athleta can be returned anytime and this includes returning fairly used items. It also has a give-it-a-workout guarantee for its performance wears and if the standard doesn't quite satisfy you, you can request a refund.
Macy's has a steady plan in place to ensure customer satisfaction. You can easily return products here and return gift items at any time to their store.
Even without a receipt, you can still get a credit. JCPenny retail outlet gives full a refund at any time on any of its items. You can also get this refund without receipts though with some limitations. It also has flexible rules on items like furniture, jewelry, and electronics.
In a way, customers have the freedom to get a refund whenever they request it. Norton offers a rather confusing refund policy and is probably a good example of what you shouldn't do.
While they don't confuse their clients with legal terms , they don't really offer any clear explanation of how their refund policy works. Instead, clients have to call in to find out more details, not knowing if there are any conditions that need to be met or not. Google Play doesn't offer refunds for its digital products with just a few exceptions such as making a purchase by mistake, fraud, or broken products. In other words, you may consider your purchases final as soon as you make a payment unless of course any of those conditions apply to you.
The coverage also involves return shipping costs. Their return policy has no time limit and purchases within a year can be returned even without any receipt. Nordstrom has a good return policy with an exception of a "case by case" basis which is rather vague.
There are no time limits on exchanges, and purchases and goods without receipts can be returned fairly easily. With Zappos , you have a whole year to return an unused product. If you ever buy the wrong shoes online and it is from Zappos, you have nothing to worry about. They also cover payment for return shipping and prioritize your satisfaction.
If you take a look at the two popular e-commerce websites, eBay and AliExpress you can see that they pack all of their policies in the footer section of their websites.
Plagiarizing is a terrible idea if you want to create a return and refund policy that will actually work. Some businesses copy and paste return and refund policies from other websites because they believe people hardly read them.
The problem with such actions is that if someone asks for a refund, you may be in for a surprise if you didn't write the refund policy yourself. For example, perhaps you didn't want to offer a day money-back guarantee but the policy that you copied states that you do. Or perhaps you don't want to offer refunds at all but the laws in your country require you to offer refunds.
You may certainly use a refund policy template as a starting point when crafting your own policy. However, you may not be aware of all the laws in your country or may simply forget to include certain clauses that could affect how refunds are processed. A better way to approach it would be to use a refund policy generator.
It'll ask you all kinds of questions about your business and use your answers to compile a custom-tailored policy based on your needs and requirements.
Save time and money with our refund policy generator. Create a refund policy custom-tailored specifically to your needs in just a few minutes. Free Return and Refund Policy Template When your business operates in the digital ecosystem, it is very important to operate within the legal boundaries to avoid any potential issues. Why do You Need a Refund Policy? What to Include in a Refund policy?
What to Avoid in a Refund Policy? Download our refund and return policy template below, and read our writing guide with examples to learn how to best create your own. If you need a quick and comprehensive policy, build one for free with our return policy generator. Expand the box below to view the standard return policy template in its entirety, which you can then copy and paste onto your own site for FREE!
Alternatively, you can click the button beneath it to download the policy in Microsoft Word and PDF file formats. Laws regarding returns and refunds vary from state to state.
Some states leave return disputes to the jurisdiction of the retailer, while some state legislation — like the California refund law — outline requirements for clearly displaying a return policy to your customers.
Increase customer satisfaction — Customers expect clear refund and return policies. With the marketplace shifting toward online shopping, consumers need to know if and how they can be refunded for a product or service purchased entirely over the internet. Even if you operate a brick-and-mortar store, return policies are so ubiquitous, that failing to present one to customers could send the wrong message to your consumers. No two return policies should look the same. Determine your business needs and customer demands to decide how best to craft your own return and refund policy from scratch, or how best to fill in the template above.
As the name implies, a return policy should clearly indicate if customers are allowed to return purchased products or claim refunds on paid-for services. Elaborate on this further by detailing how customers have to return an item, what items your returns policy does or does not apply to, and what condition an item must be returned in.
When accounting for the refunds section of your return policy, there are two main approaches: refund and no refund policies. Refund policy — If you do allow refunds, indicate the conditions and time limitations of the refund process, how customers can get their refunds, and what type s of refund s you offer, including:. Lastly, state how long it will take for a customer to receive their money back or a replacement product. This is especially important for ecommerce returns , since you need to factor in mailing and shipping, as well as the online transfer of funds.
Many businesses offer an explicitly-named return and exchange policy. Exchange policies are simply a specific form of refund policy.
As mentioned earlier, refunds can include replacement goods or goods of similar value. If you offer one or both of these options, you should have a dedicated exchange section or exchange policy to detail your guidelines for trading in products.
Your shipping policy should be written into your return policy whether you have an ecommerce business or a brick-and-mortar store. Outline if users have the option to return items via mail, who is responsible for shipping costs, whether you have specific shipping guidelines, and what shipping address customers should use.
If your products include warranties, detail how a customer can act specifically when dealing with a warrantied good.
Many businesses choose to include their warranty policy directly in their ecommerce terms and conditions. While this is a good practice, make sure that the details of your warranty policy are also available in your return policy. Checking out how other companies approach return policies can give you extra guidance on creating your own.
Here are some return policies samples that can help you get inspired.
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