Picture this: A customer walks in, claiming they bought an item months ago. There is no receipt, no proof, just a story. Sound familiar? I had a customer who told me that is precisely what happened. A person entered his shop and demanded his money back on a book. He looked at his sales history and found nothing, so he told the guy, who promptly ran out of the shop. 

You probably want to read about Kmart's new policy, which will change this scenario forever. Kmart has tightened its refund process and now requires proof of purchase for all "change of mind" returns, such as copies of receipts, Bank statements, Buy Now Pay Later statements, Flybuys statements, etc. 

Time Frame: Must be made within 60 days unless the people are in its VIP program members:

Original packaging: Required plus the instruction manuals and all accessories

Non-refundable items: Some products, like cosmetics and printer cartridges, are excluded from "change of mind" refunds

More details here.

Next Step for Your Business

I suggest consulting your industry group before taking any action. They can provide valuable insights on best practices and legal considerations. Then, it will be time to take action. Your refund policy should do double duty: shield your business and nurture customer faith. Nail this balancing act, and you'll create an environment where your success and customer satisfaction go hand in hand.