Many Happy Returns a Competitive Advantage
Nearly one in five consumers will return a gift from the
holiday season. Some will find that returning merchandise is not as easy to
do as in the past as retailers tighten up policies to reduce fraud and protect
the bottom line.
Some retailers will continue to offer liberal return policies
and even seek to use them as a means to differentiate from competitors in the
market. A case in point is Kohl’s.
The company does not put a time limit on
returns. Items with a receipt or paid for with a Kohl’s card can receive a
full refund or get an even exchange. Those without a receipt will get a merchandise
credit. Items can be returned to any store or to Kohls.com.
“We know that customers are being responsible and resourceful in their
holiday shopping and we want to remind them that they can shop with confidence,
knowing that if someone on their list doesn’t love their gift, Kohl’s will
gladly take it back,” said Julie Gardner, Kohl’s executive vice president
and chief marketing officer, in a statement. “Our industry-leading return
policy is part of the total value that we extend to our customers — as we
stand behind every purchase made in store and online at Kohls.com.”
Discussion Questions: Is it wise to try to use liberal return policies
as a competitive advantage and actively communicate them to
consumers? Are those tightening return policies engaged in a “penny-wise,
pound-foolish” action or will they, in the end, fair at best?
- Kohl’s Department Stores’ Industry-Leading Return Policy Lets Customers
Shop with Confidence – Kohl’s Department Stores
- Grading Retailers’ Return Policies – WalletPop
- 5 Steps to Happy Returns – Consumer Reports
- Tighter Return Policies Greet Holiday Shoppers – The State Journal