Apple Slashes Refund Time in Online Push
Apple has cut in half the time it takes to give refunds to online store customers who want to return their iPhones and other gadgets, a small but crucial step to try to get more people to buy direct from its website. The move could pay off in the long run if the company can lure online customers away from retailers such as Amazon and Best Buy, industry experts say.
According to retail-intelligence firm StellaService, customers who buy a product from Apple’s online store can get a refund in under a week, versus 10 days previously. Apple is processing refunds at a faster rate because it now uses an expedited service, FedEx 2Day, to let customers ship returned items with prepaid labels to its warehouse in three days. Rival Amazon offers instant refunds in some cases. However, this puts the firm at risk for fraud, as some customers may not return the item. By cutting down on the days an item is in transit, Apple can offer a speedier refund and avoid fraud.