The Effects of 'Buyer's Remorse'

The Effects of 'Buyer's Remorse'

What is ‘buyer’s remorse’, and do I need to overcome it to retain customers?

By Emma Meakin

Buyer’s remorse is that sense of regret customers may feel following a major purchase; might they have overpaid, or chosen the wrong product?

The worry for businesses is that this negative emotion could discourage the customer from returning, or get them to return the item that they purchased. You might not be able to eliminate it, but there are some simple steps you can take to reduce it.

A common approach is offering a money-back guarantee. Simply knowing they could get a refund if they want to makes the customer more comfortable and less remorseful. Another tactic is to include with each sale a voucher for a future purchase, encouraging retention and improving trust in your brand.

Additionally, offering training/customer service to illustrate how best to use the product (if it’s somewhat technical) could be another good way of helping the customer over the hump of buyer’s regret.