We all love to shop online but sometimes when you are trying a new brand you end up with the wrong size, and if you’re smart you send your purchase back to get the best size, or even a refund if possible.
However, if you are like most of us, you either can’t be bothered with a return, or you can’t afford to buy another size until your money is back in your account. This is particularly true if you are doing the right thing and shopping with a smaller, independent local brand.
So, what can you do? This was the question asked by the team behind a new Australian start-up company Refundid.
“Refundid came about after one of the founders had an experience where they had to wait 5-6 weeks for their refund after sending back their item,” explain co-founders Joel Aaron and Judd Katz. “After this experience, the R&D began. It took close to one year from idea to product release as the team worked on refining the idea and producing a quality product based on feedback.”
According to Joel and Judd, Refundid is “the world’s first instant refund option”, and as soon as you lodge your return with Refundid your refund will be in your bank account within 60 seconds, even before you send off your items.
“Customers can search for their orders from partner stores, select the items they wish to return, decide if they’d like to order return shipping and once the return is lodged, the refund is paid to the customer’s account,” they say.
It all sounds so easy – at least for customers to use – but Judd and Joel say that getting everything in place to make Refundid work didn’t happen without problems.
“Our biggest challenge was defining what we wanted to achieve. Being a brand new product, it was difficult to understand in what way we wanted to redefine the returns experience and how we wanted to do it. We overcame this by talking to retailers and understanding their problems and how we could solve it. We then constantly reworked our product to match what was actually needed by retailers,” Joel and Judd explain.
One of the best things about Refundid for lovers of fashion is the range of cool Australian fashion brands that use it. If you head to the application’s homepage you can see the already great range of shopping options, and more are added regularly. Just some of the brands include Culture Kings, Dissh, Famous Footwear, Tuchuzy, Lioness, Sass & Bide, Lonely Kids Club, Boost Lab, Homie, Willow and Cherrichella.
“We spent a lot of time developing these relationships in the industry. Going to events, reaching out and finding different ways to connect with various people. We also have some incredible advisor’s on our team who have helped us meet new people in the industry and establish strong relationships,” say Judd and Joel.
According to the Refundid team, both customers and retailers can benefit from using the programme: “Retailer’s benefit by improving customer confidence and providing shoppers with clarity that if their items aren’t perfect, their refund is only 60 seconds away. Refundid also helps retailers improve their repurchase rates.”
However Refundid really benefits customers the most. You can actually get your refund while you are still on the shopping site! So you can right away purchase something to replace what you don’t want.
“If you asked a customer when they wanted their refund and gave them the option of instantly or in 2-3 weeks, they’d be crazy to pick the latter, especially when getting it instantly is free. Refundid is a free product that customers can use to access their refunds instantly.”