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The return policy posted at a Target store. In retail, a product return is the process of a customer taking previously purchased merchandise back to the retailer, and in turn receiving a refund in the original form of payment, exchange.
If linked to a customer shop account, some retailers' point-of-sale systems also allow the salesperson to see a complete record of the customer's buying history. A receipt (or a copy of a receipt) is the proof of purchase usually needed to make a return and often plays a vital part in a company's return and exchange policy. [citation needed]
A return is costly for the vendor and inconvenient for the customer; any return that can be prevented benefits both parties. Returned merchandise requires management by the manufacturer after the return. The product has a second life cycle after the return. An important aspect of RMA management is learning from RMA trends to prevent further ...
New companies that want to make a break into a market can offer substantial rebate savings on their new product as a means of capturing a customer's attention. Zeus Kerravala, vice president at the Yankee Group, has said, "For companies that haven't been in a particular market, the rebate that essentially refunds the customer's money is a great ...
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Refund theft, also known as refund fraud, refund scam or whitehouse scam, is a crime which involves returning goods ineligible for refund to a retailer in exchange for money or other goods. The goods returned may have been acquired illegally, or they may be discarded damaged goods.