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The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

Crafting a Marketable Return Policy

May 2, 2017 03:00

If you work in a fine jewelry store, it can be disappointing for a customer to return something you spent a lot of time helping them pick out. However, product returns are not something you should actively discourage in your store. For many customers, even a small jewelry purchase can feel risky. A tedious or punitive returns policy can scare off potential new customers, or create problems for loyal customers who need to return something. Conversely, a hassle-free returns policy can be used to increase sales, build customer trust, and improve your store's reputation. When reexamining your jewelry store's returns policy, make sure you do the following.

Use customer-friendly language

If your business requires a returns policy with lots of exclusions or fine print, that's perfectly fine. However, you'll want to avoid spelling out those exclusions in a punitive tone. Instead, use positive language that considers the customer's point of view and makes them feel like their purchase is appreciated and protected, rather than threatened.

Give enough time

Shorter return periods can create a counterproductive sense of urgency. If you give customers a longer period of time to return something, they're less likely to experience this pressure.

Cover replacement costs where you can

If your margins are enough to allow for it, or if the return meets certain requirements, keep your customers from paying additional return costs - like restocking or shipping fees. Showing that you are willing to cover those expenses can improve a customer's confidence in their purchase decision.

The running theme here is: don’t penalize the customer who needs to return something. Most people check the return policy before committing to an expensive purchase, like jewelry. If it looks like they could be “punished” by the hassle created by your returns policy, there’s a greater chance they'll look elsewhere.

 

 

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