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Best Buy return policy may be reduced to 15 days: new trend?

There are rumors swirling that Best Buy will be cutting their return policy timeframe in half, potentially signaling things to come for retailers.

best buy

best buy

Best Buy shortens return policy

Best Buy will soon be changing their return policy, cutting the time allowed for returns from 30 days to 15 days, according to The Consumerist1 who has confirmed with one source that the new policy will go into effect on March 3rd, with general managers saying they learned of the upcoming change earlier in the week. Best Buy HQ remains silent on the issue, claiming their policy is not changing.

The company recently extended their price matching policy through March 2nd, and there is ensuing confusion as some news outlets have translated the details of policy to mean the price matching is a permanent policy, while others note it does end in March.

Two retail trends to watch

First, there is a race to price match with the web, with retailers like Best Buy, and even Target getting in on the trend, each extending policies to outdo each other as well as outdo the web. The primary goal of retailers right now is to curtail showrooming wherein consumers go to a retail store, then search the web right then and there to see if that product can be purchased for a better price elsewhere. In response, retailers are price matching major web vendors when a consumer shows customer service that they can get a better price; it’s a massive retention effort.

Additionally, we are hearing murmuring on the ground about quietly changing return policies which used to be 60 days, now down to 30, and with Best Buy’s possible reduction, down to 15, with others sure to follow, regardless of whether or not Best Buy goes through with it. Other retailers have made returns difficult by only offering consumers a check in the mail, regardless of how they paid, and others, particularly discounters, are only offering store credit or exchanges.

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1 Best Buy cuts return policy

Written By

Marti Trewe reports on business and technology news, chasing his passion for helping entrepreneurs and small businesses to stay well informed in the fast paced 140-character world. Marti rarely sleeps and thrives on reader news tips, especially about startups and big moves in leadership.

1 Comment

1 Comment

  1. Steve Decker

    April 7, 2013 at 9:48 pm

    Thank God I have a local Fry’s Electronics in my area! I hate BestBuy because it’s the worst buy you could get anywhere regarding their pricing policies which always seems to be the full retail suggested price! I can always, literally always find the same exact product for much less at Fry’s Electronics! Even RadioShack are sometimes cheaper than BestBuy! Every time I go into a BestBuy store, it’s always dead but when I go to Fry’s, it’s always packed with people and I’m not exaggerating with any stretch of the imagination! I don’t see how BestBuy stays in business after all these years? Are they hurting for customers by chance cause they sure don’t appear to be yet they never seem to have any number of people in their stores?

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