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Showing posts from August 23, 2016

Increase your sales through lenient return policy

Marketing study shows lenient return policy may increase sales
"The study shows that lenient return policies do in fact encourage product purchase."
A meta-analysis of retail return policies led by a University of Texas at Arlington College of Business professor may lead businesses to modify their policies to increase sales and reduce returns.  The study found that return policies that offer consumers more monetary rewards are likely to increase their consumer purchases.
Narayanan Janakiraman, an assistant professor of marketing who specializes in consumer behavior, UTA doctoral candidate Holly Syrdal and University of Texas at Dallas doctoral candidate Ryan Freling recently published their conclusions in The Journal of Retailing.

"The Effect of Return Policy Leniency on Consumer Purchase and Return Decisions: A Meta-analytic Review" analyzed 22 academic papers concerning return policies. The analysis reviewed five different dimensions: time, money, effort, scope an…