Checklist: Types of Return Policies

-- Exchange Only: If a product is defective, you can replace it or offer the customer a different item of equal value.

-- Store Credit: If customers are unhappy with a product, they can return the items to you and receive a credit for the amount of their purchase, usually less shipping costs.

-- All Sales Final: An as-is policy may save you money in the short term, protecting you against merchandise being damaged in shipping and fickle customers; but in the long run, it will assuredly cost you money. Many online shoppers won't buy something both sight unseen and unreturnable.

-- Complete Refunds: When customers return items, especially if they used a credit card to purchase them, you will still need to pay the processing fees for the purchase, increasing the amount you will need to pay for the return.