Adjustments, Refunds & Returns

Paper Summary:

This paper discusses the need to develop innovative adjustments, refunds and returns policies to encourage new customers and customer loyalty in the retail industry. The author includes the online retail industry in this discussion and looks at the initial challenges this e-commerce format of retail business faces. The paper also examines the challenges within the retail sector with respect to the handling of merchandise adjustments, refunds and returns as well as provides an analysis of solutions that are most effective within the concrete retail stores and online environments.

From the Paper:

"This was a large hurdle for e-commerce businesses, as the initial connotations associated with the Internet were rather dismal. Individuals expected to run into hustlers and con artists over the Internet, and thus were fearful of sending out personal details to make purchases. Included in this problem was the issue of how to securely deal with online transactions, since it was a while before security certificates became an easily accessible commodity for e-commerce websites. Despite this, the industry developed solutions, and customers did being to flow, quite heavily, through the doors of the cyberspace shopping Mecca!"

Sample of Sources Used:

• Spencer, J. With a Slow Economy Eroding Sales, Retailers Reach Point of No Returns. The Wall Street Journal. May 14, 2002.
• Tedeschi, B. Companies learn that selling merchandise online can be surprisingly messy, especially those pesky returns. New York Times: August 23, 1999.

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