Try buying special-order specialty auto parts at WalmartWalmart refunds. You must know that.

For that matter, try returning anything to Walmart for a refund after their time limit, or returning without a receipt expecting to get cash back.
Different businesses, different conditions... different rules.
Sure. A partial refund would effectively be a restocking fee, and just like a restocking fee it would discourage people from ordering and changing their minds.Restocking fees for reservations?
It is not uncommon for a deposit (for a custom-built product, or for an event registration) to be non-refundable or only partially refunded if the order is cancelled too late.