Home – New Forums Selling online Insights and Questions on Refund Policies

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  • #995314
    Kwing
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    Hi All,

    I was wondering anyone can share some tips on Refund Policies.
    What is a good refund policy and process? I want to give the best experience to my customers with a no questions asks refund policy but I wonder how sustainable is this.

    Anyone can share some best practices will be greatly appreciated.

    I am hoping to start a Men Accessories store.

    #1201113
    Rowan@quaotic
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    I am not sure how much you know about your legal obligations about returns and refunds but that should be your first stop before you start thinking about extra customer service. Look up consumer affairs to find out about your obligations then you can add stuff over and above if you want to.

    #1201114
    Rohan@TD
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    Hi Kwing,

    You certainly need to meet your legal obligations as a base and then identify a policy which is appealing to your target market, competes with your competitors and supports your business model.

    Once you understanding your legal obligations, do broad scoping research of your direct competitors and then leading industry players (e.g. iconic). You don’t need to match them, but you need to consider the positives and negatives of doing so/not doing so.

    Online fashion, as an industry, has a really high rate of return, so its critical you account for that in your return policy and pricing model. Men’s accessories return rate may differ from the industry standard, so do comprehensive research to ensure you’re using the correct figures.

    #1201115
    Kwing
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    Rohan@TD, post: 238335, member: 78618 wrote:
    Hi Kwing,

    You certainly need to meet your legal obligations as a base and then identify a policy which is appealing to your target market, competes with your competitors and supports your business model.

    Once you understanding your legal obligations, do broad scoping research of your direct competitors and then leading industry players (e.g. iconic). You don’t need to match them, but you need to consider the positives and negatives of doing so/not doing so.

    Online fashion, as an industry, has a really high rate of return, so its critical you account for that in your return policy and pricing model. Men’s accessories return rate may differ from the industry standard, so do comprehensive research to ensure you’re using the correct figures.

    That’s a very good point! Where would be a good place to research ? Accc website?

    #1201116
    Chrispro
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    These are the consumer’s rights and what your customers will be working off as their legal recourse in case of an issue https://www.accc.gov.au/consumers/consumer-rights-guarantees/consumer-guarantees
    plus read the other links on the left at that site.

    As a reseller you need some understanding of your obligations around the ACL and note that there is a particular statement which you must publish regarding returns.
    http://consumerlaw.gov.au/business-and-the-acl/

    #1201117
    Pin Payments
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    • Total posts: 33
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    From a payment gateway point of view (hello!), we’d recommend a full refund where possible to avoid the possibility of a chargeback dispute. I definitely appreciate this isn’t always desirable, but something to at least consider.

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