What is the return policy in ecommerce?

A return policy in ecommerce defines the conditions under which customers can return products for a refund, exchange, or store credit. It typically specifies the return window (e.g. 30 days), acceptable item conditions, and the process for initiating a return. A strong return policy builds customer trust and, when paired with exchange-first tools like Swap, retains revenue that would otherwise be lost to refunds.