End of year gift exchange: how to prepare your store!
Feb 22, 2024 4:45:31 GMT -6
Post by account_disabled on Feb 22, 2024 4:45:31 GMT -6
After the end of year shopping, there is always a huge movement of exchanging and returning gifts. To prevent this from becoming a problem, your store can prepare with strategies — and even turn this period into an opportunity. Check out some tips to apply to your business. The end of the year is one of the best times for commerce — especially for clothing, footwear and accessory stores. People need to buy gifts, outfits to travel on vacation or just want to change into new clothes. The increase in movement is clear! This movement comes at a very good time, especially in a relatively “lukewarm” year for sales, such as 2023. The accumulated result for the last 12 months showed a drop in retail sales, until August. However, economists are already pointing to an average growth of 3.5% for the year, thanks to end-of-year shopping. As a result, the National Confederation of Commerce in Goods, Services and Tourism (CNC) indicates that Christmas 2023 should see an average increase of 10% in sales compared to the same period of the previous year. This growth should be driven by the recovery of the economy, the increase in employment and income, and the advancement of digitalization of retail. On the other hand, with this increase in sales, we can also expect a large movement of gift exchanges and returns after Christmas.
This is seen as a problem by many entrepreneurs — as it increases demand in the store, without necessarily increasing revenue, in addition to generating additional costs. However, you can prepare your store for gift exchanges and returns , reducing the impacts of this movement — and even finding opportunities to win customers and increase sales. Want to understand more about this? So continue reading! Check Lebanon Mobile Number List out more management and technology tips for bars, restaurants and stores Is my store required to exchange and return gifts? Getting straight to the point: it depends. According to the Consumer Protection Code , stores are obliged to make exchanges in case of defects, within 30 days for non-durable goods (such as clothes, footwear and accessories) or if there is “misleading advertising”. Then, the consumer can ask for a refund or a new product. Gifts, most of the time, do not fit into this. Therefore, as a rule, retailers are not obliged to exchange them. However, it is customary to give the right to exchange gifts to guarantee sales. After all, hardly anyone will buy a gift without being sure that the person will like it, if they can't exchange it, right? So, even if you are not required by law, the consumer market “forces” you to exchange gifts. However, if there is no legal obligation, you can create your own policies for this: define exchange deadlines and conditions, as well as refuse to return the amounts. We will discuss this in the next item.
Exchanges and returns for online purchases: In addition to the rules that apply to physical stores, in the event of a defect or false advertising, online stores must always carry out exchanges and refunds for regret , within seven days after delivery of the product. The person who purchased outside the physical store, without seeing the product, always has this right. Read also: Success story of the Joker Socks store How to prepare your store for exchanges and returns? More than a legal obligation or consumer demand, exchanges and returns on holiday purchases are a reality of commerce, which you need to plan for. By defining a good exchange policy , preparing your logistics and training your team, you can greatly reduce the negative impacts of this movement, as well as transforming it into an opportunity to win new customers. After all, have you ever imagined how many gift recipients still don't know about your store, but are going to visit it to exchange gifts? So, check out some simple strategies to prepare for exchanges and returns. Have a well-organized exchange policy As stated, you are not required to exchange or return gifts by any law, so you can (and should) create your own exchange and returns policy, defining: which items can be exchanged: discounted items or underwear are not exchanged under any circumstances, for example.
This is seen as a problem by many entrepreneurs — as it increases demand in the store, without necessarily increasing revenue, in addition to generating additional costs. However, you can prepare your store for gift exchanges and returns , reducing the impacts of this movement — and even finding opportunities to win customers and increase sales. Want to understand more about this? So continue reading! Check Lebanon Mobile Number List out more management and technology tips for bars, restaurants and stores Is my store required to exchange and return gifts? Getting straight to the point: it depends. According to the Consumer Protection Code , stores are obliged to make exchanges in case of defects, within 30 days for non-durable goods (such as clothes, footwear and accessories) or if there is “misleading advertising”. Then, the consumer can ask for a refund or a new product. Gifts, most of the time, do not fit into this. Therefore, as a rule, retailers are not obliged to exchange them. However, it is customary to give the right to exchange gifts to guarantee sales. After all, hardly anyone will buy a gift without being sure that the person will like it, if they can't exchange it, right? So, even if you are not required by law, the consumer market “forces” you to exchange gifts. However, if there is no legal obligation, you can create your own policies for this: define exchange deadlines and conditions, as well as refuse to return the amounts. We will discuss this in the next item.
Exchanges and returns for online purchases: In addition to the rules that apply to physical stores, in the event of a defect or false advertising, online stores must always carry out exchanges and refunds for regret , within seven days after delivery of the product. The person who purchased outside the physical store, without seeing the product, always has this right. Read also: Success story of the Joker Socks store How to prepare your store for exchanges and returns? More than a legal obligation or consumer demand, exchanges and returns on holiday purchases are a reality of commerce, which you need to plan for. By defining a good exchange policy , preparing your logistics and training your team, you can greatly reduce the negative impacts of this movement, as well as transforming it into an opportunity to win new customers. After all, have you ever imagined how many gift recipients still don't know about your store, but are going to visit it to exchange gifts? So, check out some simple strategies to prepare for exchanges and returns. Have a well-organized exchange policy As stated, you are not required to exchange or return gifts by any law, so you can (and should) create your own exchange and returns policy, defining: which items can be exchanged: discounted items or underwear are not exchanged under any circumstances, for example.