Product Returns: Turning a ‘Returning’ Problem into a Solution
Looking for ways to capitalize further on your holiday sales? Implementing a consumer-friendly return policy might help more than you think, according to the Consumer Electronics Association’s (CEA) latest research.
At first glance, a consumer-friendly return policy may read as an oxymoron, but when we consider what this means to customers, the advantages can outweigh the drawbacks.
Each year, four to six percent of all retail purchases are returned, and CEA’s recent CE Product Returns Study reports one in five (22 percent) consumers who purchased a consumer electronics (CE) product in the past two years has returned or exchanged it. In short, product returns are inevitable – and are likely to continue.