L.L. Bean is making a major change to its relationship with customers by limiting its famed return policy.
The retailer has been putting its customers first for a long time with a policy that allows them to return any products, no matter how old for a full refund. In fact, the return policy allowed you to get your money back, no questions asked.
However, L.L. Bean’s policy has led to a lot of people taking advantage of the company by using it to simply get their money back once they were done with a product. Additionally, some people bought company products from thrift stores and then sold them back to the retailer for a profit.
It is still unclear whether or not L.L. Bean is making this move, but the company said it is taking a long, hard look at fraudulent practices that may be occurring in its stores in order to avoid them. The company added that it is always standing behind its products.
The move come amid a dark time for the retailer, including declining sales. L.L. Bean is looking to reduce its workforce by at least 500 workers with added benefits, flexible time off, improved parental leave or elderly care, as well as a better retirement package that will force some to retire early.
All in all, employees are set to cash in from the change of policy if it indeed happens.
