This paper examines the selling strategy of an internet platform retailer in the presence of customer returns. A supplier may sell its product through the platform retailer and also through its own (direct) channel. The platform retailer may either be a reseller of the supplier’s product or a marketplace (charging a commission to provide platform services to the supplier, who sells the product through the platform). When the platform retailer is a reseller it offers a money-back guarantee (MBG) returns policy; when it is a marketplace, it requires that the supplier offer the MBG on sales through the marketplace. We identify the conditions under which the supplier should also offer an MBG in the direct channel. We identify the platform retailer’s optimal selling strategy (as marketplace or reseller) and the associated conditions. We show that the platform retailer should choose a reselling strategy if the selling efficiencies in both channels are either significantly different or sufficiently close, and otherwise the platform retailer should choose a marketplace strategy. The regions that achieve win–win for both supply chain members are identified.

本文研究了存在客户退货的互联网平台零售商的销售策略。供应商可以通过平台零售商以及自己的（直接）渠道销售其产品。平台零售商可以是供应商产品的经销商，也可以是市场（收取佣金向供应商提供平台服务，供应商通过平台销售产品）。当平台零售商是经销商时，它提供退款保证 (MBG) 退货政策；如果是市场，则要求供应商通过市场提供 MBG。我们确定供应商还应在直接渠道中提供 MBG 的条件。我们确定平台零售商的最佳销售策略（作为市场或经销商）和相关条件。我们表明，如果两个渠道的销售效率显着不同或足够接近，则平台零售商应选择转售策略，否则平台零售商应选择市场策略。确定了两个供应链成员实现双赢的区域。