Refunds have quietly become one of the most important—and most overlooked—moments in modern commerce.
Today, in partnership with TodayPay, we’re releasing Where Is My Refund? , our 3rd annual consumer research report examining how U.S. shoppers really feel about refunds, and how refund experiences are shaping loyalty, trust, and repeat spending across retail and ecommerce.
This year’s findings are stark.
44% of Americans say they would rather visit the dentist than wait seven days for a refund. That reaction isn’t about impatience. It’s about trust, cash flow, and expectations shaped by a world of instant payments and real-time digital services.
Based on a nationwide survey of 1,387 U.S. consumers, the 2026 report shows that refund speed, transparency, and flexibility now play a decisive role in whether customers complete a purchase, return to a brand, or quietly walk away. Refunds are no longer a back-office process—they are a moment of truth.
The report also introduces Returnuary: the post-holiday period when return volumes surge and refund experiences are tested at scale. For many merchants, this is when operational friction, customer frustration, and hidden costs surface most clearly.
Inside the report, you’ll find data on:
- How refund speed influences repeat purchases
- Why transparency reduces support volume and disputes
- What consumers expect from modern refund experiences
- How leading merchants are rethinking refunds as an operating lever
With nearly $1 trillion flowing through refunds annually in the U.S., the message is clear: how you return money matters as much as how you take it.
Yours truly,
The Instant Refund Expert®
The Refunds Blog 