How to add a Returns and Refund Policy for your WooCommerce store
Ninety-one percent of consumers interviewed in a recent Harris Poll said that a store’s return policy was an important factor in a purchasing decision. Therefore, having a well-thought-out return policy clearly displayed in your store is key to attracting – and keeping – your customers.
A return policy is a good business for brick-and-mortar stores, and it’s essential to doing business online. Unlike visitors to brick-and-mortar stores, online consumers don’t get to see and hold the physical product before they buy it. So e-commerce sites must ensure that their return policies are fair and appealing to their customers.
Most of the sites today are using refund and return policies to strengthen their bond with the customers. Buyers are now conscious. As per National Retail Foundation, in 2018 return was worth $365 billion which is about 10% of all the purchases, online and brick & mortar stores. A survey conducted in 2019 by UPS found that 73% of the customers decide whether to buy a product from a retailer again based on their refund policy. 63% believe that their overall experience of a retail store depends on the same.