If you have been into a major retail store the day after Christmas, chances are you seen the massive line at customer service to return unwanted gifts. While this is to be expected after the holiday, many stores are making return policies tighter than ever this year. Sears, Toys R Us, and Best Buy were among the retailers that cut return times significantly. Not all items were included in the limits, which specify 30 days as the typical return time allowance. Electronics were the major focus of the shortened time frame, but Sears also shortened the allowable return time for vacuums and major appliances.
Separating Return Policies
Many stores also began to specify shortened return times for particular items, especially electronics, while extending return times for other items, such as clothing. The reasoning behind the shortened return policies is the speed of obsolescence that all electronics are susceptible to. A cell phone that is top dollar and in high demand now will often fall in price and not be as sought after in a month.
Online Return Policies
To add to the frustration of holiday shoppers, some retailers with both online and brick and mortar bases have specified that items purchased online must be returned by mail rather than at physical locations. Some online retailers, such as Overstock.com, have even specified a zero return policy on certain items. Others require a restocking fee for returns on opened merchandise.
Retailers of all types have also begun to tighten the reins on returning merchandise without a receipt, some flatly denying refunds without a receipt. The reason behind this move is return fraud. It is estimated that about 6 percent of holiday returns this year will be fraudulently returned items, costing retailers and consumers in the long run. So choose wisely when holiday shopping this year, as your friends and family may just have a hard time returning their gifts.