Refund Fraud: Finding the Right Policy
Retailers continue to struggle to find the right balance with their return policies where their good customers are not negatively impacted while recognizing the need to deal with fraudulent returns. At last week’s NRF show, two senior LP executives that I respect gave their views and results.
Bruce Pyke, DVP of Loss Prevention and Security at Bon-Ton Stores and Ray Cotton, Director of Security Operations at Orchard Supply Hardware, spoke about how their respective companies took the plunge into a return policy change – and how it impacted customers in the process. A nice summary of their presenation can be found here.