See, American consumers have clever nicknames for particular shopping days: Black Friday, Small Business Saturday and Cyber Monday, for example.
We’ve dubbed the week between Christmas and New Year’s Day ‘Chargeback Week,’ even though chargebacks know no real season.
And it’s a merchant’s responsibility to prepare his or herself for Chargeback Week by having a prominent return policy.
This is an educated guess…
The overwhelming majority of all consumer chargeback cases – that aren’t friendly fraud – are knee-jerk reactions, a convenient way out of a return by the consumer, who is unknowing of the repercussions on the merchant.
We believe only a small percentage happen (again, an educated guess) because the consumer is legitimately unhappy with the merchant.
It makes the merchant’s refund policy all the more important, particularly this time of year.
A refund is always better than a chargeback, for all parties involved. Make that very statement – as well as your refund policy – prominent with your customers in the following places:
With a little preparation, chargebacks can be kept to a minimum. And this is the time to do it.