Retailers offer many happy returns
Stores and their shoppers are viewing after-holiday returns in a whole new light this year. Many retailers recognize that cash-strapped consumers will bring back more gifts than ever and have loosened their return policies.
The changes come after several large retailers in the past few years made it more difficult to return merchandise, especially without a receipt.
But more than half of retailers said their return policies would be more lenient in the few weeks following the holidays than the rest of the year, according to a National Retail Federation survey of its members.
“For once, many shoppers will be greeted with good news at the return counter,” said Edgar Dworsky, founder of the public service resource Web site consumerworld.org. “The easing of some restrictions should make for many happy returns.”
Given the focus on necessities over luxuries in this economy, it may well be the time to bring back that sparkly sweater that’s “so not you.”
And despite the more lax policies, it still will pay to have that receipt handy, reminds Joe LaRocca, leader of loss prevention for the National Retail Federation. That’s because a gift purchased in November might be selling for 75 percent less now, and the current price is all you’ll get if you can’t prove what was paid for it. As uncomfortable as it might be to call the gift giver and ask for a receipt, it might well be worth it.
Many retailers also have return policies that subject certain purchases, such as electronics, to stricter rules than say, clothing, says Dworsky. Computers, digital cameras and opened goods may be subject to limited return rights, restocking fees, shortened return periods, or no refunds at all, he says.
