Time to Change Your Return Policy?

Here’s some info from THE WEEK and NYMag.com: Researchers studying the effect of lenient return policies recently stumbled onto a surprising finding. “The longer a store allows its customers to return something after purchasing, the less likely they are to ever actually return it”. For one thing, the longer someone has an item, the more he feels like he owns it. Plus, when an event feels far off, “it becomes more abstract in your mind”. So when stores set generous or even open-ended deadlines, suddenly “returning the thing doesn’t seem like such an urgent task”.

So extending your return policy can give you a stronger appearance of customer-friendly good will with a small downside risk!

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