Apple 'cans restocking fees'
Apple is to drop re-stocking fees on products returned to its US retail stores, according to reports.
Currently the company imposes a 10 per cent re-stocking fee on non-defective products returned by customers.
Restocking fees are a common practice among US manufacturers and retailers, but unpopular with American consumers. Canning the policy will pay good PR dividends for Apple, and it might mean that customers find more reason to buy an iPad from their local Apple store as opposed to, say, Best Buy.
In the UK restocking fees are illegal and this is one of the many reasons that electronics goods cost more than in the US. A rationale for restocking fees is that it enables vendors to set more competitive prices.
This is a moot point in the case of Apple, which is awash with money, and has no need to include restocking fees in setting prices on the high margin goods it makes.