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WALMARTS RETURN POLICY
The company reserves the right to:
Warn, limit or decline returns or exchange.
Irrespective of having a receipt or not
Receipted returns and
I settle for Walmart because I have been shopping with them for a long time now and they have never disappointed me. I have always managed to find all I need whenever I need them when I go to the store. General items purchased can be returned within 90days of purchase. The reserve of the company means that even though the store allows its customers to make returns of the products purchased, it is important for the customers to understand that there are certain requirements that must be met to enable to store to make and exchange or a refund. For instance, it would be absurd for a customer to demand a refund for a product that has already been consumed such as bottle of wine. Customer can make returns of exchange the products earlier purchased whether or not they have a receipt for the purchase. The return will be subjected a verification process that will enable to the store to determine the details of the particular purchase.
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It the return is within the allowed days, a refund is issued.
The refund is based on the original payment method.
Non receipted return
Have to meet the following conditions:
The return is accepted by the refund verification process
The customers government issued ID is accepted by Walmart.
The fact that the company allows the return and exchange of products purchased means that there needs to be a proper return policy which will not only be beneficial to the organization but also offer the customers the level of convenience that improves their overall satisfaction with the services offered by the store. Individual make purchases using various means such as credit cards, debit cards, cash or check among other available means of payment. If you paid cash or with a check, then you will be refunded cash, however, if one used a debit or credit card, the refund will be made to the card. In the absence of the original debit or credit card, then the refund will be made to the customer in the form of a gift card which is worth the refund amount.
TARGET RETURN POLICY
Returns for refund can be made within 90 days.
Company has a modified return policy
Noted on the receipt
Returns, exchange and refunds may be denied if the product is:
Lacking a receipt.
The company return policy points out that most of the products purchased by Target customers can be returned for refunds or exchange within 90 days from the day the purchase was made. However, the company also points out that it has a modified return policy which means that the customers have to be well informed of the return policy of the particular products purchased as stated in the receipt. There are also exception that the company focuses on to deny the return or exchange of a purchased merchandize. This is because the client may have interfered with the product thus compromising its integrity making it less valuable, (Rowley, 2003).
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ONE POSITIVE ASPECT ABOUT BOTH POLICIES
They both allows returns within 90 days.
This gives buyers a large return window.
Customers can easily return items that they may have bought but don’t need.
One of the most important aspect of shopping for customer is the convenience of being able to get whatever you want whenever you want. There are time when individuals may buy products that they really don’t need and they realize later they spent a lot of money on an item that the wouldn’t use. As such, a return may be the best option in order to get back the money spent on the product. The fact that both stores offers customer 90 days means that they have three month to figure or whether or not the product suits them provided they have not used it, (May, 2013).
ONE NEGATIVE ASPECT ABOUT BOTH POLICIES
In both cases, refunds are converted to gift cards if:
The original debit/credit card is missing.
This can be inconveniencing if the customer needed a cash refund.
Even though the two stores allow for the return of the products in 90 days from with time the purchase was made, the refund can only be made to the original means of payment. This becomes a challenge when an individual used a debit or credit card which is no longer functional or available. A customer may be in dare need of cash hopping that the stores would be able to give a cash refund that is the value of the product previously purchased. However, getting a gift card may be a solution as one can only spend the money within the store which does offer a solution to money problem being experience by that particular customer.
UPDATING T HE POLICY
Clearly, Walmart has a more friendlier return policy.
As such, I would update Target’s return policy.
The update would be to :
Give a full refund gift card worth the value of the previous purchase.
This would attract more customer as they would see value for their money.
There are various stores in the market and they are all aimed at attracting the most number of the targeted customers. To do so, various stores have developed attractive return policy that offers their customer the convenience they seek. As such changing Target return policy will ensure that the policy allows for customers get a full refund for the returns as opposed to the current offer of a give card worth 80% of the purchase value. The move will see to it that more customers prefer shopping in the store as they company is giving them more value for their money, (Hennig-Thurau & Hansen, 2000).
Hennig-Thurau, T., & Hansen, U. (2000). Relationship marketing: Gaining competitive advantage through customer satisfaction and customer retention.
May, S. (2013). Case studies in organizational communication: Ethical perspectives and practices. Los Angeles: SAGE Publications.
Rowley, L. (2003). On Target: How the world’s hottest retailer hit a bullseye. Hoboken, N.J: J. Wiley.