A study shows that money back guarantee on the retail sector seduces consumers by eliminating the risk of not liking the purchase.
Retailers who offer this option see a boost in sales and profit.
We tend to opt for situations where we can completely eliminate risk.
See the full study here :
Akçay, Y., Boyacı, T., & Zhang, D. (2013). Selling with Money‐Back Guarantees: The Impact on Prices, Quantities, and Retail Profitability.
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