Retailers TIghten Holiday Return Policies
If Saturday (the day before Christmas) is going to be a gigantic gift BUYING day… Monday (the day after Christmas) will be a huge gift RETURNING day. Retailers estimate that holiday returns will total a record $46.3 billion this year, up 4% from last year and 10% from two years ago. Some retailers have tightened their return policies, while a few have made it easier for customers.
According to the National Retail Federation, 83% of stores are keeping their return policies the same this year, while 13% are tightening them. ConsumerWorld.org has a list of the naughty and nice retailers. Here are a few highlights.
- Target has now cut computer hardware returns to 45 days from 90.
- Sears now only accepts computers returned within 30 days, rather than 60.
- Wal-Mart has reduced the return period for cameras from 30 to 15 days.
- And Sports Authority stores won’t accept returns of anything bought at their online store.
Be sure to check with your specific store about its return policy, because they may vary from region to region. Also, keep your receipt, and if you know you’re going to return something, don’t open the box.
Click here to check out the return policies of more big retailers.