The majority of online shoppers expect to get refunds back in one week or less during the holidays. But, StellaService data shows that many of the largest retailers in the country are not meeting these expectations as we head into the holiday shopping season.
In our 2014 Holiday Consumer Survey, 73% of shoppers expect a refund in a week or less during the holiday season. Breaking that 73% down, 39% expect a refund in less than 4 days and 34% expect a refund in 4 to 7 days.
So, how does the actual performance of retailers stack up against these expectations?
Our research team dug into the performance data behind 25 of the largest retailers (complete list of companies is available at the end of this article) and found that overall, average refund speed is not matching up with the expectations of shoppers.
Here’s the breakdown of how fast Top 25 retailers issued refunds from February to July 2014:
- 8% issued refunds in less than 4 days
- 20% issued refunds in 4 to 7 days
- 64% issued …