A change in the law today has potential impacts for consumer marketers – it is now law that customers can claim a refund for faulty goods within a 30 day period rather than a time at the discretion of sellers.
Whilst it has always been good practice in terms of customer experience and satisfaction to offer refunds there have been obvious cost implications when offering this. Now it has to be provided what happens to that cost? Presumably it will be spread amongst all products sold, although it should also encourage the supply of good quality products and services which meet the requirements of all customer who purchase them.
The other implication, however, is that for those organisations who had competitive advantage through easy return policies that advantage could be diminished so they need to find a revised differentiator.
With luck, both of these areas will improve service for customers all round – what do you think?