Troubled Marks & Spencer to end 'easy refunds'
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Your support makes all the difference.Marks & Spencer devotees will have to think twice before they buy in future as the high street giant plans to dump its 50-year-old "easy refund" policy in a bid to cut costs.
Marks & Spencer devotees will have to think twice before they buy in future as the high street giant plans to dump its 50-year-old "easy refund" policy in a bid to cut costs.
Shoppers are currently afforded the luxury of a belated change of heart over a hasty purchase as the company will dish out refunds on goods or exchange garments regardless of when they were bought.
But the no time-limit refund policy, which is seen as open to abuse by competitors, is to be scrapped and customers will be forced to return goods within three months.
The rethink is expected to be announced in the next few weeks and is part of chief executive Stuart Rose's review to modernise and see off another possible take-over bid from Philip Green, according to a Sunday newspaper.
An M&S spokeswoman confirmed the policy was currently under review. "Stuart Rose instigated an ongoing review of every area of the business in July. The refund policy is included in that but, in terms of exactly what is going to happen, it's too early for us to comment on that."
The M&S refund policy was introduced more than 50 years ago so customers could try garments on for size at home, as M&S stores had no fitting rooms at that time.
Cash refunds are offered for any item returned to the store with a receipt while M&S vouchers are given for those brought back without any proof of purchase. Staff are also told to take the customer's word that an item of clothing has not been worn - unless the garment is damaged or stained.
The spokeswoman added: "It's something that our customers value very much. Having a refund policy where they know they can choose clothes and try them on at home with other items and they know that they can bring it back and get a refund. It's worth comparing that with the rest of the high street."
But the amazingly generous policy is seen as open to abuse with some reports suggesting customers could wear a product a few times before returning it and getting vouchers, or shoplifters exchanging garments stolen from one store at a different one. Many rival British retailers are stricter still - requiring customers to return goods within 28 days with proof of purchase in order to exchange an item or obtain a credit note.
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