Almost after every Christmas, retail shop owners are at a loss because a lot of people turn up to return or exchange product which they got as a gift. Sometimes they would want to sell a product they have used over the years.
It has nothing to do with the quality of the product; rather, the customer has gotten two of the same products, or they simply want to replace an existing one.
According to research carried out by an Appliance Insurance Company www.prominencesupport.co.uk shows that 23% of all appliance owners in the UK, which is about 3 million households in the UK will like the option to swap out their aged appliance with a new one in the original shop they purchased the older appliance.
Now, there are two ways to go about this, refuse the customer and send them back or give the customer a certain percentage credit on their current machine which they can apply to their next item from the same store.
A business owner may tend to follow the later, for instance for a coffee machine sold for £100 which a customer wants to return; A retailer can give them a 20% credit off a new coffee machine of the same specification which makes for about £20. This money can only be used in the store and if the customer buys another machine that costs perhaps £150, the store will make a sale of £130, and the store can recycle the used machine for even higher value as they are more likely to have the industry contacts for that than the customer.
This is like taking an opportunity and turning it into something that will become profitable someday- in business that can also be referred to as enhancing customer loyalty. Accepting the return promotes the store’s reputation and can increase returning customers.
14- day return policy
Many businesses have a 14-day period during which if the customer returns a product, they can be refunded via credit and beyond that, they lose the whole money.
In our busy environment with jobs, kids, home responsibilities, it often becomes difficult to keep track of these things and the consumer may lose track of this strict 14 day returns policy. If the store or company is flexible with this policy and even accommodate the late ones, they may enhance customer service which is the key to making sales every day. Also, a happy customer is more important than a return policy.
In today’s competitive market – meeting customer’s expectations are crucial, boosts recommendation and in return promotes sales.
The survey, commissioned by Prominencesupport.co.uk, was of 1,000 British male & female individuals ages 18 – 55 who have bought at least one appliance.