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The return policy posted at a Target store In retail , a product return is the process of a customer taking previously purchased merchandise back to the retailer , and in turn receiving a refund in the original form of payment , exchange .
Price adjustment are not the same as return policies. With price adjustments, retailers will refund a customer the difference in cost even if the item has already been used. Returns, on the other hand, usually need to be in unused condition. Some retailers have different policies for in-store purchase and online purchases.
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A return is costly for the vendor and inconvenient for the customer; any return that can be prevented benefits both parties. Returned merchandise requires management by the manufacturer after the return. The product has a second life cycle after the return. An important aspect of RMA management is learning from RMA trends to prevent further ...
The retail industry has been losing a lot — about $101 billion last year alone, according to the National Retail Federation —because of shoppers exploiting lenient return policies. Target, in ...
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