Implementing a 24-hour cooling-off period for non-essential big-ticket purchases; making full use of the seven-day no-questions-asked return policy for online shopping

23. Implementing a 24-hour cooling-off period for non-essential big-ticket purchases; making full use of the seven-day no-questions-asked return policy for online shopping

Cost: No direct monetary cost. You simply have to wait an extra day to receive what you want. Usually, you’re responsible for return shipping fees. The real challenge is resisting the urge to place the order on the same day.

In plain terms: What you save is exactly the money spent on items you no longer want the very next day. For online purchases, you can return them for any reason within seven days of delivery. There are a few categories excluded from this policy: custom-made items, perishable goods, digital products that have been opened, and newspapers and periodicals.

Benefit: What you save is precisely that portion of impulse buys you no longer want after a day. There is no single universal percentage representing this share. As mentioned, online purchases can be returned within seven days of receipt, with the same exclusions applying. This policy has been in effect in China since 2017.

Evidence grade: C

Sources: State Administration for Market Regulation of China (revised in 2020). Interim Measures for Seven-Day Return of Goods Purchased Online without Reason (General Administration Order No. 31). <https://www.gov.cn/zhengce/zhengceku/2020-11/03/content_5557118.htm>

Notes: The cooling-off period is essentially a practical measure with no direct academic evidence backing it up. For purchases not deterred by this period, the seven-day no-questions-asked return policy still applies. Before initiating a return, make sure to verify two things: whether the item falls under the excluded categories, and whether its packaging remains intact.