Restocking fee

Do you remember when it all started? During Super Bowl Weekend, it became common for some people to go purchase a new large screen TV to watch the big game, then return the "used" TV the next week for a full refund. Stores began to see a trend and decided because they had the added expense of reboxing, reinventory, and loss of revenue for "open box discount" they needed to charge a restocking fee (normally 15%).

I received an email earlier this week from an friend who purchased something of higher than normal price from Best Buy, paying cash, and then decided to upgrade to a different model. He had an interesting story which included a $45 restocking fee even tho'  he wanted to increase his purchase on a newer model; additionally, the local store could not refund his money as it was over $200 and he would receive a check from corporate in 2 - 3 weeks. He was somewhat upset and felt if he had used a credit card he could have canceled the transaction and not been charged 15% and the credit would be immediately back in his account.

This week Apple unveiled the 3G iPhone, something that was anticipated. Additional news included AT&T increasing the monthly charges for data billing and a change from Apple's business model for the phone. What I found interesting is that if you purchased an iPhone since May 27 you could return it for a new one, with a new handset charge and a restocking fee.

I understand that stores have some expense in returned merchandise and consumers may take advantage of their pricing policy. I wonder why in this circumstance the customer is assumed to be "ripping off" the business, particularly when an upgrade is involved. It would seem there should be a waiver of the fee if an additional purchase is involved.

I doubt this will change but be aware anytime you're working with a "corporate" environment, policy outweighs customer satisfaction. First I would recommend shopping locally where possible (even for national brands), use a credit card for large purchases (cheap insurance if there is any problem) [btw - pay the account off when you get the bill, it's easier to get behind on credit card payments than you think], and be aware of fees that will be charged if you're unsatisfied with your purchase.