In the summer of 2018, Groupon Goods will be launching our new Exchange Program. This is an exciting new initiative that will enable customers to request a replacement product in lieu of a standard return. This customer-friendly strategy aims to reduce refunds and follow through on our commitment to deliver fantastic products to our customers!
How do Exchanges work?
● Customer is dissatisfied with the product received. If eligible, they can request a replacement item to be sent via our online returns center, at no additional cost.A new order immediately drops to vendor/warehouse and ships to the customer via standard outbound process
● Customer ships back original product within 30 days, or they will be charged for the additional item.
● Groupon issues RMA, ships original product back to vendor, and deducts COGS from invoice
● Customer is happy. Refund avoided!
Benefits of the Exchange Program for Vendors
● Reduce refund-based chargebacks:
○ Damaged merchandise: $5/unit + 100% of COGS
○ Missing pieces: $5/unit
○ Delivered wrong product: $5/unit + 100% of COGS
● Improve Ratings & Reviews
○ Groupon will provide customers the link to either leave a review regarding their replacement or edit an existing review at the time of the exchange
○ Deals with low Ratings & Reviews are not eligible for marketing
● Improve customer experience and increase customer lifetime value