How to create an Exchange and Return Policy for your online store
In e-commerce, a solid Exchange and Return Policy can be a determining factor in closing or losing a sale.
Providing a straightforward return policy reassures the customer and instills confidence in your company, and your products.
Why having an excellent Exchange and Return Policy is important
The growing popularity of e-commerce is making consumers smarter and more cautious when it comes to buying online.
According to research conducted by Ebit, 44% of shoppers abandoned their e-commerce purchase because they thought the return process would be complicated, and 40% were unaware that they could exchange a product, for any reason.
In other words, do you want to make the customer feel more secure about completing the purchase? Clearly state your online store’s return policy.
Besides showing that you care about the customer, a solid return, refund, and exchange policy proves that you stand by the quality of your product. It’s an extra incentive you can offer to consumers who are still hesitant to buy online.
According to the research, 92% of consumers return to an e-commerce site as long as the exchange/return process is simple and quick. Trust has a huge impact on your results, as it helps to build customer loyalty.
Even if the consumer is not satisfied with the product purchased, a positive exchange or return experience will ensure that he doesn’t abandon your store.
– Learn how to use reverse logistics for your exchanges and returns
5 tips for writing an Exchange and Return Policy
Although the US doesn’t have federal laws affecting returns and refunds, it’s still a good idea to have a Return and Refund Policy, and it will be mandatory in some states if you want to have control over the terms of your policy.
US state laws also don’t require a Return and Refund Policy, but under certain circumstances, you will need to display this policy prominently on your online store or e-commerce website.
When it comes to developing an Exchange and Return Policy for your store, there are some best practices to follow.
Here are five tips on how to develop the best policy for you and your clients.
1. Don’t hide your Exchange and Return Policy
Your customers should never have to go on a hunt to find information about your store. Keep your policy clearly visible on the main menu.
Adding this policy to purchase confirmation emails is also an excellent idea. Being your client’s biggest advocate is a great way to earn their loyalty.
2. Never copy and paste
This applies to almost everything on your website (especially product descriptions).
Develop your Exchange and Return Policy specifically for your business and target audience. Include customer reviews as well, if possible.
– 6 reasons why online reviews are essential for your brand
3. Simplify
Yes, you want to speak to your target audience, but avoid using words that send people into a dictionary.
You don’t want to confuse anyone – especially Google’s robots, which can help boost your SEO.
– SEO for e-commerce: how to optimize product descriptions in your online store
4. Be pleasant
Try not to use phrases like “you must” and “you are obliged to” or, one of the worst, “we are not responsible for”.
Don’t complicate anyone’s life.Your return process should be as easy as buying the product.
5. Inform the customer how they should proceed
Explain step by step what the return or exchange procedure is.
Does the customer need to use the store’s packaging or can they use their own? Do I need to include the order and invoice? Is there a time limit for requesting a return or exchange? Who pays for shipping? Describe the entire process and specific guidelines.
Finally, remember that if you make a change to your policy, this must be reported on your homepage and preferably by email as well.
If an order was placed before the change took effect, you must adhere to the old policy.
Exchange and Return Policy and Reverse Logistics
A survey by Invesp indicates that 30% of products purchased online are returned. This is largely due to the exponential growth of e-commerce, and it drives the practice of reverse logistics.
Reverse logistics refers to the reverse path an order can take, that is, being sent from the consumer’s home back to the retailer.
According to André Dias, a consultant at Ebit, there’s no way to avoid this expense, and if the business owner doesn’t account for it, they will face problems that will affect the business management.
Most e-commerce that don’t offer this service require their customers to go to the nearest post office with a postage code authorizing the return shipment to the store. This is inconvenient for the consumer and leads to dissatisfaction.
It is important to keep in mind, therefore, that the transportation of goods is a fundamental part of the Exchange and Return Policy and reverse logistics of an e-commerce business.
In addition to ensuring that the product returns to the store, this process is even more important to ensure fast and secure delivery so that neither the company nor the client suffers any further unforeseen events or potential losses.
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