Retailers have always struggled with returns. As a business, you want to be customer-friendly and have a liberal returns policy.
The problem is that every retailer has dealt with consumers essentially borrowing an item, using it, and then bringing it back. Judging an honest return versus someone trying to take advantage is a challenging problem.
Amazon, for example, has some items for which it will refund the customer, but not ask for it to be sent back. The online giant, however, also tracks customer returns and has banned some customers from returning items because they do it too often.
The overall problem is massive, with total returns projected to reach $890 billion in 2024, according to a report by the National Retail Federation and Happy Returns, a UPS company. Retailers estimate that 16.9% of their annual sales in 2024 will be returned.
For retailers, however, the challenge is that consumers want a liberal returns policy.
Don’t miss the move: Subscribe to TheStreet’s free daily newsletter
“Return policies and expectations impact the consumer all throughout their shopping experience. Seventy-six percent of consumers consider free returns a key factor in deciding where to shop, and 67% say a negative return experience would discourage them from shopping with a retailer again,” according to the report. “Eighty-four percent of consumers report being more likely to shop with a retailer that offers no box/no label returns and immediate refunds.”
Most retailers have taken that to heart and offer liberal return policies. Lowe’s and Home Depot traditionally have, but on some items, they have a policy that may shock customers who likely would never expect rules that strict.
Image source: Jonathan Weiss/Shutterstock
Home Depot and Lowe’s add restrictive return policy
When you buy a big-ticket item, you would assume that you have a reasonable amount of time to make sure it works. Once that period passes, hopefully you have a manufacturer’s warranty that will cover problems at least for the first year.
Most consumers assume, however, that when they buy something big like a stove, an air conditioner, or another major appliance, that they have at least 30 days to make a return. At both Home Depot (HD) and Lowe’s, that’s not the case.
Home Depot has a 48-hour return policy on certain items, which it shared on its website:
Home Depot’s 48-hour appliance return policy:
“Please call the Customer Solutions team at 1-800-455-3869 within 48 hours (excluding weekends) for any damages and defects on Major Appliances (Refrigeration Appliances, Washers, Dryers, Ranges, Dishwashers and some Microwaves),” the retailer shared.
A 48-hour return policy seems like an attempt to pass off any problems to the manufacturer. Many customers may not have even filled out a warranty card before 48 hours has expired.
Home Depot also has some items where it only offers 7 days for returns.
“Dehumidifiers, Pressure Washers, Air Conditioners (Window and Portable), Generators (other than whole house and stationary generators). All product must be unused and in their original factory-sealed packaging,” it shared.
That policy has been effective since June 16. The “unused and sealed” aspect means that if you open it and it’s broken, you have to deal with the manufacturer and not the store.
More Retail:
- Popular Mexican chain closing all restaurants, no bankruptcy
- Home Depot local rival closing permanently after 120 years
- Amazon makes a harsh decision amid concerning customer trend
Lowe’s has a similar returns policy:
Lowe’s 48-hour appliance returns rule:
You can return these items within 48 hours of purchase:
- Major appliances
- Air conditioners and evaporative coolers
- Paint sprayers
- Portable generators, pressure washers, chainsaws and pole saws
- Utility vehicles, golf carts, go-karts and motorized bikes
Basically, Lowe’s and Home Depot aren’t taking returns on these items unless the customers notice an immediate problem.
Best Buy, Amazon could steal appliance customers from Lowe’s and Home Depot
Cynically, you can look at Home Depot and Lowe’s as passing off any problems to their vendors. That’s not very customer friendly, as they bought the item from the store and now have to create a new relationship with the vendor to get the big-ticket item repaired.
You could also at least consider the idea that the 48-hour returns policy will help Home Depot and Lowe’s sell some extended warranties — a product that famously benefits the store and not the consumer.
Home Depot and Lowe’s are also competing with other appliance retailers.
Best Buy, for example, offers a standard 14 or 15-day return policy on nearly all items (some custom orders are not included). My Best Buy Plus and My Best Buy Total members get 60 days on any item that does not require an activation.
Amazon does not have a specific return policy for appliances. In most cases, the online retailer allows at least 30 days to return an item.
“At Amazon, we’re committed to making your shopping experience as seamless and worry-free as possible. We understand that there may be times when a purchase may not meet your expectations or your needs might change. When that happens, we make completing a return simple and convenient,” the company posted on its website. “Most items can be returned for a refund or replacement/exchange within 30 days of delivery as long as they are in original or unused condition.”
FAQ on appliance returns:
- Home Depot allows only 48 hours to return major appliances such as refrigerators, washers, dryers, and dishwashers. Returns must be initiated by calling Customer Solutions at 1-800-455-3869. Items must be unused and in original condition.
- Lowe’s return policy for major appliances and select items (such as pressure washers and generators) requires customers to return the item within 48 hours of purchase to be eligible for a refund or exchange.
- Best Buy offers a 15-day standard return window on most items. Members of My Best Buy Plus or My Best Buy Total get 60 days on most products.
- Amazon generally provides 30 days to return appliances, as long as the item is unused and in its original condition. In some cases, Amazon will issue refunds without requiring the product to be sent back.
Related: Home Depot has one surprising edge over Lowe’s shoppers love
Great Job Daniel Kline & the Team @ TheStreet Source link for sharing this story.
