Today, Costco announced a change to their return policy (which is a bummer) so make sure you’re aware of this before your next big ticket purchase. Basically, they changed their return policy to 90 days for consumer electronics, which goes into effect this week in California and on April 1 for the rest of the U.S. Here’s the new return policy on Costco’s website:
“Merchandise: We guarantee your satisfaction on every product we sell, with a full refund. Exceptions: Televisions, computers, cameras, camcorders, iPOD / MP3 players and cellular phones must be returned within 90 days of purchase for a refund.”
The good news? All consumer electronics purchased before January 1, 2007 is grandfathered with the old return policy. In addition, for all TVs, Costco will extend the manufacturer’s warranty to 2 years. This BusinessWeek article has some more details.
For those of you who don’t know, prior to today, Costco’s return policy was unlimited. Meaning, you could buy a HDTV from them and if it crapped out on you 2 years later, you could return it for a full refund. Yeah, it was an awesome policy for *honest* buyers who wanted that extra piece of mind but A LOT of people were abusing it. According to their CFO, a lot of plasma TVs were returned last year (and, presumably, re-purchased for the cheaper price) and it killed their earnings.
Update (4/14/2007): For clarity, all non-consumer electronics products can still be returned indefinitely.
Filed under: Costco, Retail, Shopping