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

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.

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.

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.

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.

国家市场监督管理总局 (2020 修订). 网络购买商品七日无理由退货暂行办法（总局令第 31 号）. https://www.gov.cn/zhengce/zhengceku/2020-11/03/content_5557118.htm