Thursday, 8 May 2008
Why consumers return electronic purchases
There was an interesting article in the Wall Street Journal today entitled "The War on Returns" about how retailers and manufacturers of electronic goods are trying to stem the tide of product returns. According to the article, consumers return between 11 and 20% of all the electronic goods they purchase - wireless phones, GPS units, MP3 players and wireless networking equipment have the highest rates. Only 5% of the items are returned because they are defective. A whopping 68% are returned with "no trouble found" simply because consumers didn't understand the product, and 27% are returned because of "buyer's remorse" (spent too much, spouse got mad).