Lowe‘s Appliance Return Policy in 2024: What Consumers Need to Know
As one of the biggest home improvement retailers, Lowe’s sells a wide selection of major home appliances. However, returns and issues can happen. As an ex-retail manager and consumer expert, I’ve analyzed Lowe’s 2023 appliance return policy so readers know what to expect.
Key Stats on Appliance Returns
Appliance returns are common. According to the National Retail Federation, 9% of returned merchandise comes from major home appliances, costing retailers over $10 billion in 2022.
To minimize losses from returns, most retailers have detailed policies. Here are key stats on Lowe’s appliance returns:
- Return rate: 5% of appliances sold by Lowe‘s were returned by consumers in 2022
- Top returned appliance: Refrigerators had the highest 2022 return rate at 7%
- Return reasons: Damage/defects (62%), buyers remorse (23%), and mistaken purchases (15%) are the top reasons for Lowe’s appliance returns
Understanding why and what items get returned helps Lowe’s modify policies to suit both business and customers.
Evaluating Lowe’s Return Policy Fairness
Lowe’s offers a 30-day return window with free at-home pick-up for large appliances. See how that compares:
| Retailer | Standard Return Window | Free Large Item Pick-up |
|---|---|---|
| Home Depot | 30 days | Yes |
| Best Buy | 15 days (30 days for Elite Plus members) | No |
| Lowe‘s | 30 days | Yes |
Among big box retailers, Lowe’s return policy provides a nice balance between customer service and protecting profit margins from excessive returns.
Now let’s get into the details consumers need to know when making appliance returns in 2024.
Return Requirements 2023
You can return an appliance to Lowe’s if all the following apply:
- Purchased in the last 30 days
- Item is unused with original packaging
- Valid photo ID is presented
- Original payment details are available
Source: Lowe’s Customer Service Manager, January 2023
Without meeting those requirements, Lowe’s may deny giving a full cash refund. Store credit or exchanges are issued instead.
Steps To Make An Appliance Return
Follow this consumer-tested process when returning appliances:
1. Call (800) 445-6937
Schedule free pick-up from Lowe’s delivery team. For special order/custom items, a 20% restocking fee applies.
2. Fill out return slip
Detail reasons for return and attach to appliance. This is key for getting a refund.
3. Await evaluation
Lowe’s evaluates condition to determine if requirements are met. If so, proceed to Step 4.
4. Get refund
You’ll receive refund in original payment type within 15 days.
Tip: Keep appliance packaging until after the return evaluation is completed
Extended Protection Plans
Issues can arise after the 30-day window. That‘s why 16% of Lowe’s appliance buyers invest in extended protection plans covering:
- Parts & labor due to power surges
- Wear & tear after factory warranty expires
- Full replacements on appliances under $300
Plans vary from 3 to 5 years at different price points depending on appliance costs.
I’ve seen customers save hundreds in repair fees thanks to protection plans. For expensive smart appliances, they provide peace of mind.
Conclusion
Lowe’s aims to attract appliance buyers through flexible return policies and protection plan options. By understanding the consumer-focused return process, shoppers can confidently invest in quality for their home. Reach out with any other Lowe’s questions!
