Carrie is a Brand Evangelist and Customer Advocate at Helium 10, an all-in-one analytics solution for ecommerce sellers. She speaks mostly to Walmart and Walmart.com related topics.
This is definitely a good strategy to help reduce returns. I would recommend asking for a reason that the customer is returning the product. Often customers will say they found the product cheaper somewhere else which gives you an opportunity to do a price match by refunding the difference to the customer. This kind of customer service will also build customer loyalty.