Return Policy: What is Return Policy? How To Write A Return Policy? Requirements & Template

With the increase in e-marketing, the problem is customers can’t see and feel the physical product. Therefore return, refund, and exchange are all part of e-commerce. One loses a lot of time, money, and effort without a solid and well-defined return policy, especially after the festive season. The approach makes it easier for both the customer and brand to trust each other after a sale and work on the betterment of the product. 

What is Return Policy?

A return policy is a document that describes the rules regarding requirements for accepting returns. It covers what customers should expect before placing the order and how they should initiate a return if the product is of undesired quality, defective, or unwanted.

A return policy extends customer care service provided by e- retailers. A return policy provides hassle-free product return, refund, or exchange and creates a balance between customer satisfaction and the cost associated with it. A customer-centric return policy is a powerful marketing tool that leads to high conversion rates and purchases.

Requirements of a Return Policy

Every return policy should cover a few points to help customers know their limitations. The main liable points to be included are:

• The time frame for Return:  It is imperative to let your customer know how long they have to return your product. Generally, it ranges from 7 days to 15 days. This is to assure the product’s safety for resale. 

• The product’s condition: The rule of thumb is to ask for the original payment receipt and a tag attached to the product. 

• Exchange Offer: The policy should include in what form can you compensate them (a full refund or in-store credit). So they can be aware beforehand and perform hassle-free shopping.

• Item Specification: A clear position on what products can be returned and what can be exchanged. Finally, some items are for “final sale” due to hygiene issues (undergarments, face cosmetics ). 

How To Write A Return Policy?

Developing a comprehensive return policy helps gain customers’ trust and make them loyal to your brand, and you get high customer retention. Even if a customer is not satisfied with their purchase, handling the return professionally will ensure their loyalty and retention to your brand.  There are tactics when it comes to writing a return policy. Here is an outline 

• A return policy must be clearly and concisely to prevent any misunderstanding.
• Keep the language simple. Don’t use jargon and complicated language. The readability of your terms should be of a 4th grader. It helps to avoid any confusion.
• Write your policy under the main menu so that customers may not have to go hunting to search the information. You can also send a printed copy of the return policy with your product.
• Personalise your policy. A return policy is not a “one size fits all” thing. It is a better approach to write testimonials regarding your return policy. Yes, you heard it right. 
• Disclose any hidden charges or fees required. If you expect customers to put their own money while returning the item, write “AT THE TOP”. You don’t want an already upset customer to feel worse because social media is a potent tool now.
• Don’t use authoritative words like “you must” or “You are required”, or “we are not responsible”. Your return policy should give your customer a feeling of ease and confidence.
• And last but not least, the Return policy should show your brand’s voice, tone, attitude, and ethics.

RETURN POLICY TEMPLATE

Providing below a basic return policy template as a sample for your upcoming business, the company can tweak the terms and conditions based on circumstances. 

We adore our brand customers, and your satisfaction is of utmost importance to us! If you are looking to return or exchange your order for whatever reason, we will gladly accept it within 30days from the date of receiving your product.

You can return an item for exchange, a different product, store credit, or full refund.

Please note the following exception in our return & exchange policy

• Discounted items and final sale items can’t be returned or exchanged.
• The returned item should have its tag intact & in original packaging.
• The article should be in good condition with no wear and tear.

Additional information

• How much time does it take to receive your refund or exchange item?
• Is any shipping fee included?
• Contact information of your customer care support in case of any query.

BENEFITS OF RETURN POLICY

Many brands provide good products but their after-service sucks. Do you think the customer is going to buy again? The answer is ‘A BIG NO’. So let us discuss what a generous return policy can help you with:

•  A Clear, simple, yet effective return policy ensures customers’ trust and encourages them to purchase with ease in mind that they can return or get a refund if they don’t like the product.

• A return policy creates a strong belief in customers that the company’s products and services are rooted for quality output. This generates a level of bonding with customers and masses who then avail the benefits and increase purchase with positive reviews and positive word of mouth.
• 95% of customers have genuine issues regarding the product, get relief, and tend to be with the company. A strategically built return policy creates a win-win situation for both customer and company. Companies can run a profitable business by not incurring losses via returns and delivering good customer service due to customer satisfaction and more customers moving in to buy and experience the benefits.
• Finally, it can be used as a marketing strategy to attract new customers as any brand can provide a good product, but the ones with an excellent after-sale service go much farther.

Return policies are helpful for customer retention and improvement from a business perspective, and products aren’t always returned due to bad conditions or wear and tear. Still, depending on the customer’s perspective, this is a way for companies to concentrate on customer acquisition through their sales patterns.