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As the twinkling lights of Christmas fade into memory, retailers are bracing for the inevitable surge of holiday returns. While shoppers navigate the post-festive season with bundles of unwanted gifts, they may encounter new return policies and fees that have been quietly introduced by some businesses.
In Chicago, Tracy Fontana, a shopper, mentioned she is involved in ALO exchanges. Similarly, Elaine and Dennis Chaseton find themselves returning sweatsuits that were gifted in the wrong size, illustrating a common post-holiday predicament.
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The National Retail Federation has projected that approximately 17 percent of the staggering $1 trillion spent on holiday shopping will return to store shelves. As consumers prepare to make these returns, understanding the evolving return policies becomes crucial in ensuring a smooth process.
“Sweatsuits that somebody bought too small,” Elaine and Dennis Chaseton said.
The National Retail Federation says about 17 percent of the $1 trillion that will be spent on holiday shopping will be returned this year.
But returning items at some retailers may come with a cost.
SEE ALSO: Why your holiday gift returns might go to a landfill and what you can do about it
Seventy two percent of merchants surveyed by the NRF are charging restocking fees this year, compared to 66 percent of retailers last year. That’s money you don’t get back.
“So, sometimes you buy a electronic item, whether it be a TV or computer. Some of those, even the big brand store, may charge you a restocking fee. And some of them are charging a return fee,” said Steve Bernas, president and CEO of the Better Business Bureau.
Bernas says it’s important that shoppers keep a receipt, familiarize themselves with return deadlines and read the fine print in the return policy.
One reason why some retailers have moved to stricter return policies, says Bernas, is due to fraud.
“Fraud is always large during the holiday season, as well. The retailers do pay the price for those frauds, and that’s why sometimes they make it a little more stringent,” Bernas said.
Despite stricter policies this holiday season, shoppers say there are just some items that need to be returned.
“My brother got a bracelet for his girlfriend. So we came to exchange it because it was the wrong size,” shopper Lindsay Fontana said.
For those who received gift cards, the Better Business Bureau recommends using them as soon as possible. Because time and time again retailers have gone bankrupt or gone out of business, meaning the gift cards could become worthless.
