Compare Your Customer Return Policies to the Big Boxes
According to the National Retail Federation (NRF) and Happy Returns 2024 Customer Returns in the Retail Industry Report, retailers estimated that 16.9% of their annual sales in 2024 were returned, making customer returns a headache for many retailers, regardless of their size. And customers are not making it any easier on retailers; the NRF report found that 67% of consumers said a negative return experience would discourage them from shopping with a retailer again and 84% of consumers report being more likely to shop with a retailer that offers no box/no label returns and immediate refunds.
To guide retailers as they develop their policies, several retailers share their return policies and the ways they have found to mitigate fraud and keep customers satisfied in the July issue of Hardware Retailing. One of the best ways to evolve your customer returns policies is to look at what your competition’s policies are to be sure you are offering a similar or better level of customer service, so we have compiled a list of big-box retailers customer returns policies to help you compare and refine your own strategies.
Lowe’s
Most new, unused merchandise can be refunded or exchanged with receipt within 90 days of the original purchase date, unless noted in Lowe’s Return Policy Exceptions. Returns with a valid proof of purchase will be exchanged or refunded to the original method of payment, with a number of specific exceptions.
Lowe’s does not accept returns without a valid proof of purchase, but will attempt to validate a purchase using the following methods: physical or electronic receipt, order number, payment card or digital wallet, phone number, Pro Rewards Account or MyLowe’s Rewards Account.
The full return policy can be found here.
The Home Depot
Most merchandise can be returned within 90 days with proof of purchase to The Home Depot unless noted. The Home Depot reserves the right to decline returns where a product does not have a manufacturing defect but has been damaged by the customer, or to prevent fraud or abuse.
If a purchase was made with The Home Depot Consumer Credit Card, The Home Depot Pro Xtra Credit Card (Commercial Revolving Charge) or The Home Depot Commercial Account, customers have 365 days from date of purchase to receive a full refund, unless noted in “In-Store Return Exceptions,” “Online Return Exceptions” and or “Return Policy Exceptions.”
The full return policy can be found here.
Tractor Supply Co.
Customers can return products to the store with proof of purchase within 30 days from the purchase date to exchange or return an item at its original purchase price. Active Neighbor’s Club members are eligible for 90-day paperless returns. All returns require a proof of purchase or are subject to refund verification system approval.
For store purchases, the cash register receipt or any transactions attached to a customer’s neighbors club account serves as a proof of purchase for items bought at your local Tractor Supply store.
The full return policy can be found here.
