All abbreviations, terminology and jargon of returns explained
In this Wiki, we have compiled a list of all the concepts, topics and terminologies about returns. Learn everything there is to know from the experts.
Right of Withdrawal
The right of withdrawal is your customer's right to undo an online purchase within 14 days, or longer if you promise this in your return policy, and return the product, without needing any return reason.
No fault found rate
The no fault found rate indicates the extent to which returned items are received back in perfect condition, allowing them to be sold again for new price.
An exchange process is one in which you exchange a customer's purchase for another product, rather than issuing a refund as in a normal return.
Perfect Order Rate
The perfect order rate is a metric that measures the efficiency and accuracy of the order fulfillment process. It is the percentage of orders that are delivered on time, complete, undamaged and with accurate documentation, and therefore often to your customer's satisfaction.
Refund Rate or Refund Rate.
A refund rate, also known as a refund rate, is a measure of the number of returns that result in a refund.
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