Retailers are in a constant battle to attract and retain customers. One way they do this is by offering enticing perks and benefits, ranging from lenient return policies to fast shipping.
Customers’ Expectations
Customers have certain expectations when it comes to these perks, especially regarding consistent benefits like free and fast shipping. Any changes to these perks can lead to disappointment or frustration among customers.
Walmart’s Recent Update
In a recent update, retail giant Walmart quietly made changes to its return policy, particularly addressing returns for orders fulfilled by third-party sellers.
Increase in Shipping Rates
Walmart announced an increase in shipping rates for orders fulfilled by third-party sellers. The company cited changing market conditions as the reason for this adjustment.
Introduction of the “Keep It Rule”
To offset the impact of the price increase, Walmart introduced the “Keep It Rule.” Under this rule, customers can keep unwanted items and still receive a refund without having to return the product.
Nominal Price Increase
Although Walmart did not publicly disclose the extent of the price increase, the company assured customers that it would be nominal, likely an attempt to minimize any potential backlash.
First Price Increase in Two Years
This adjustment marks the first price increase to Walmart’s return policy in approximately two years, indicating a shift in the company’s approach to managing returns.
Challenges of Returns for Retailers
Returns are essential for customer service, but they also create challenges and costs for retailers. While lenient return policies boost customer satisfaction, they also bring logistical and financial strains for the retailer.