If you haven’t heard about “keep it” return policies, that’s because most stores don’t like to flaunt it. Honestly, you won’t even know whether it’s an option until you’ve gone through the entire online return process, and even then, not every single item will qualify.
Returnless refunds, in a nutshell, are like getting a refund for a purchase without having to part ways with the product. You get your money back, and the item will stay comfy at home with you.
The National Retail Federation (NRF) estimated that consumers would return $816 billion in retail merchandise in 2022. So where do all those returns go? It really depends on the product and the retailer, but worst-case scenario, returned merchandise usually finds its way into landfills if the store is unable to resell it.
According to Yahoo! Finance, “The expense associated with processing returns is about a $30 project just on average,” says Jan Kniffen, CEO of J Rogers Kniffen Worldwide. “So if the item costs less than $30, it’s really hard to justify figuring out what to do with it, as opposed to, say, just keep it.”
GoTRG works with retailers to efficiently streamline their returns process and has released its annual 2023 Return Report: Holiday Predictions. The report says that 59% of responding retailers have already implemented a “keep it” policy for items that “aren’t financially viable to ship back.” Most retailers defined merchandise that’s suitable for “keep it” policies as being priced up to $20.
All of this is aimed at saving sellers and shoppers money by making returns a hassle-free process while eliminating the needless transportation of inexpensive products. Here’s a look at retailers that offer returnless refunds (although the list is short):
Amazon Returnless Refunds
In 2017, Amazon spearheaded the concept of “returnless refunds,” reaching its peak in 2020, thanks mostly to the pandemic. Amazon’s returnless refunds policy is a seller opt-in feature that makes certain products eligible for refunds without the buyer having to return them. Sellers also set their own return rules and will depend on the merchandise. So, returnless refunds are never guaranteed on Amazon; only their return policy is a sure thing, so check the product page before making a purchase.
We’ve been given a returnless refund on several occasions for inexpensive tech equipment we decided we didn’t need. But that was in 2021, and to date, we haven’t had that option since.
Walmart Returnless Refunds
Based on Business Insider’s intel, Walmart offers the returnless refund option, although you won’t find the specific policy anywhere on their website. Since we haven’t used the option, we can only say this is a real thing based on what others report. But, if Walmart can’t resell whatever item you’re returning, chances are it’ll qualify for a returnless refund.
Target ‘Keep It’ Refunds
Target’s “keep it” refunds are legit. After purchasing an athletic skirt and then changing our minds, we were able to keep it and received our refund within hours. Of course, we had no idea this option would be available since we had to complete the entire return process first, but now we can say with 100% confidence that returnless refunds are possible at Target.
Shopify Returnless Refunds
Retailers selling on Shopify can enable Returnless Items as part of their return policy. We know the option is available because it’s explained by UPS’s Happy Returns. You’ll still have to check the specific seller’s return policy, but as you’ve become aware, most don’t advertise it.
The post PSA: Here’s the Whole Story With Returnless Refunds and the Stores Offering Them appeared first on The Real Deal by RetailMeNot.