Return and exchange policies vary from store to store and may change depending on the time of year, type of item and method of payment. Some retailers offer more lenient return policies during the holiday season, such as extending the amount of time to return or exchange items or allowing returns or exchanges without receipts. Others tighten policies due to increases in return fraud. The National Retail Federation reported retailers lost $15.9 billion in return fraud during the 2015 holiday season.
Familiarize yourself with stores’ return or exchange policies. Policies should be prominently displayed or stamped on the back of price tags and receipts. Ask someone if you don’t see them. Find out if retailers give refunds, issue store credits or consider all sales final and whether there are special policies for sale and clearance items. Be sure to know what procedures and timeframes need to be followed. If you’re dealing with an online company, determine where items can be returned and if you have to pay fees for restocking or shipping them back.
Save receipts and enclose gift receipts with presents. Make sure you take them with you when making returns as proof of where and when items were purchased and prices paid. Without them, you may end up settling for exchanges or store credits at prices considerably less than originally paid.
Keep original packaging, including parts and price tags. Many retailers won’t accept returns unless the items are intact and in their original packages. Find out if restocking or open box fees are charged for returns of electronics products or large-ticket items.
Although stores are busy immediately following the holidays, it’s a good idea to return items as soon as possible. Don’t forget to smile and be patient with store employees.
Remember to shop businesses you can trust. Check them out with Better Business Bureau by going online to www.bbb.org or calling (937) 222-5825 or (800) 776-5301.
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