Generous returns policies at stores can engender customer loyalty and quell holiday shoppers' concerns of wasting money on unwanted gifts.
This holiday season especially, with many consumers making their gift purchases early, lengthy returns windows that extend into the new year are one way for retailers to try to capture Americans' spending.
On the flip side, a strict returns policy can turn off consumers and deter them from patronizing a particular business.
"The No. 1 reason customers don't make repeat purchases is bad return policies," Sender Shamiss, CEO of goTRG, a returns logistics company, told CBS MoneyWatch.
Returns can be costly for retailers, given the shipping and restocking costs they incur on goods that are sent back. It's led 42% of retailers surveyed by goTRG to shorten their window for returns this year. One in three retailers give consumers just seven days to send goods back, or tack on fees for bulky goods to discourage consumers from making returns, according to the company.
Top 10 Retailers with Generous Return Policies
When it comes to return policies, not all retailers are created equal. While some have strict rules and limited timeframes for returns, others are more lenient and customer-friendly. Here are 10 retailers that offer some of the most generous return policies in the business:
- American Eagle: This men's and women's clothing store allows customers to return new and unworn items at any time after purchase. There is no time limit for a full refund, as long as customers keep their receipts. Those without proof of purchase can receive store credit or make an exchange. Returns can be made in-store or online.
- Athleta: Under its "Give-It-A-Workout Guarantee," this women's athletic wear company allows customers to wear and sweat in their clothing and still return the item if it doesn't meet their standards. Customers have 60 days from the delivery date to make a return.
- Eddie Bauer: This outdoor clothing and sportswear company offers a full year for customers to return unworn and unused products. With proof of purchase, customers can receive a full refund or replacement within 365 days.
- Ikea: Known for its affordable assemble-it-yourself furniture, Ikea gives customers a whole year to return new and unopened products with proof of purchase.
- Kohl's: This department store chain has a customer-friendly return policy that allows returns of most items within 180 days of purchase. Customers can receive a full refund or make an exchange.
These retailers stand out for their omni channel returns options, free shipping, and lengthy returns periods. So if you're looking to shop stress-free and have the option for a refund or exchange, these are the places to go.
The department store with a generous return policy
The department store, known for its wide range of clothing, home goods, and toys, has a customer-friendly return policy. Customers can return most goods within 180 days of the purchase date, and the best part is, no receipt is required. This makes it easy for shoppers to exchange or get a refund for their purchases.
L.L.Bean: A year to return
L.L.Bean, the family clothing company, offers its customers a whole year to return products for a refund, as long as they have proof of purchase. However, this wasn't always the case. In 2018, the company made changes to its return policy, discontinuing its lifetime guarantee. This decision was made after a small number of customers were taking advantage of the policy, seeking refunds for heavily worn products or those purchased from third parties.
Nordstrom: No time limits
Nordstrom, the high-end department store, takes a customer-centric approach to returns. The company has "no time limits for returns or exchanges" and accepts returns both online and at its physical stores. Nordstrom aims to make its customers happy and handles returns on a case-by-case basis.
Patagonia: Quality guaranteed
The outdoor recreational clothing retailer will accept returns at any time. When customers change their minds about a product's fit or color, the retailer asks that returns be made "in a timely manner" and that items retain their tags. Returns made more than one year after purchase may be refunded in the form of store credit.
REI
REI will accept returns on items for up to 365 days if you're an REI member. For non-members, the returns window is 90 days and includes goods that have been worn. Just clean used items before returning them. "Merchandise that is not cleaned or laundered may be declined and sent back," the retailer states on its website.
Zappos
The Amazon-owned shoe seller lets customers return goods purchased online for free for up to 365 days from the date of purchase, so long as the items are unworn and in their original state and packaging.
