Finance expert Mike Periu on the latest return policy trends for retailers.
Larger retailers spend a great deal of time crafting return policies. According to the National Retail Federation, 83 percent of retailers kept their policies more or less the same as last year with 7 percent tightening theirs. Those with more restrictive changes usually shortened the period of time during which a customer may return the purchase. During the holiday season, however, many retailers have implemented special return period windows that extend into January and February as a way to further stimulate sales. One trend which is becoming popular is developing different return policies for different types of merchandise. Usually electronics and software have the strict return policies with shorter windows for returns, higher restocking fees and other restrictions. In general, businesses are free to setup whatever return policy they choose. Some state laws do require that the return policies be prominently displayed but when it comes to restocking fees or return windows, the retailer can choose what to offer.
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Who is Mike Periu?
Mike Periu is the President of Proximo, LLC, a company that markets education and training programs to small business owners, entrepreneurs and consumers.
Mike Periu has been interviewed over 500 times for broadcasters including CNN, NBC TVE, RTE and others. Mike is a contributing author to OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike graduated from Georgetown University in Washington, DC. His degrees are in Finance and International Business. In addition to his work Mike is also on the Board of the Council for Economic Education.
Learn more about Mike Periu
Mike works with small businesses to teach them about finance and management. He started Proximo, LLC, a company that offers small business education and training services focused on finance and technology.
Periu also writes for OpenForum, Yahoo! Finanzas the Huffington Post contributor.
Mike went to Georgetown University where he studied Finance and International Business. He also serves on the Board of the Council for Economic Education and was a Fellow at the Kauffman Foundation.
