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Dec-27-2009Merry Christmas, and happy returns(topic overview)
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In Florida, there are few rules governing how stores must deal with returns. Retailers are required to post signs near the checkout if they do not accept returns; if they don't post the sign, the store must accept unopened, unused merchandise within seven days from the date of purchase. "In most states, stores can set up any return policy they want, as long as you disclose it beforehand," said Edgar Dworsky, a consumer lawyer and founder of ConsumerWorld.org. Among the big additions to return policies this year, according to Consumer Reports: requirements to have receipts, and restocking fees for merchandise. [1] "Stores have gotten more stringent in terms of requirements for returning things," said Greg Daugherty, executive editor of Consumer Reports. About 17 percent of retailers have tightened their holiday return policies this year, according to the National Retail Federation. [1] You're not alone; 19 percent of people plan to return a gift after the holidays, according to a recent survey by Consumer Reports. This year, you may find that retailers' return policies have changed. [1]
Then there's the major problem of return fraud; retailers will lose an estimated $2.7 billion during the holidays and about $9.6 billion for the year because of it, according to the retail federation. "Retail returns are still the largest opportunity for shoplifters to gain from their crime," said Dr. Read Hayes, a research scientist at the University of Florida and director of the Loss Prevention Research Council. "Retailers want to have good customer service and bend over backward for you, but at the same time, they don't want to get taken advantage of." That means that honest consumers who want to return merchandise need to pay attention to return policies. "Consumers need to be a little more selective, make sure it's what they want before they buy it or before they open it," Hayes said. [1]
Over $70, you can get an equal exchange within the same department in the store. In a survey by the National Retail Federation, 28 percent of retailers said they are being more lenient to accommodate holiday returns. [1]
Since many stores require a receipt to return a gift, include a gift receipt with your presents. This is already becoming a more normal practice the National Retail Federation found that the stigma of including a gift receipt is easing. It found that 58.6 percent of shoppers said they enclose a gift receipt most of the time or some of the time when giving a gift. [1] If the item is defective, the store may advise you to return it directly to the manufacturer instead of the store. These days, most stores automatically provide a gift receipt. [2]
Check privacy policies and terms of agreement, not just the returns section of a retailer's site. Despite longer grace periods, retailers are becoming more insistent on a receipt in order to get a refund, and they're more inclined to turn away customers without proof of purchase. Without a receipt, they may offer a store credit for the lowest price the item sold for. -- Keep packaging intact. [3] Some retailers charge restocking fees usually 10 percent to 20 percent of the price of the item for items that are opened. While restocking fees have historically been for electronics, stores now also sometimes charge them for other items, including home goods and furniture. If you're a gift giver, send the recipient with all the original packaging; some stores won't accept items unless they are returned in the box. [1] Plus shoppers have only 15 days to return items. -- Sears: 15% restocking fee applies to electronics products returned without the original box, used, and without all of the original packaging. [3]
A restocking fee is a fee imposed on a consumer who returns an item. It covers the cost of processing the return, the costs associated with returning the item to the store's shelves, and any lost revenue as a result of the store's inability to sell that item as new. More products carry a restocking fee if the package has been opened, but if the item is defective before it's used, the store should not charge a restocking fee. [3] Many stores don't comply. "Most consumers aren't aware of (restocking fees) until they get hit with them," said Anthony. "It's our sense that a lot of retailers are not posting the restocking fees as clearly as they should be posted." Some retailers pride themselves on their return policies. [4] The online giant, which sells items itself and via third parties, has 29 different policies and a range of restocking fees up to 50 percent, according to Consumer World. While return policies are aimed at preventing consumers from "renting" expensive items for the weekend or trading in stolen goods, some consumer advocates say they make honest shoppers suffer. [4]
Kmart gets high ratings from consumer groups because it doesn't apply restocking fees and accepts returns of most items. Its policy allows each store to refuse returns. [4] Some stores impose restocking fees basically, a charge to return an item while others don't. [4]
Best Buy, Sears and Macy's also charge fees for certain items. Under state law, stores must post their return policies and fees so shoppers see them before they buy. [4] Check the policy ahead of time. It may make more sense to buy the same item at a different store because of return policies. [1] Kristina Solimini, customer service rep, takes a call at KMART. This story is about return policies at major retail stores, and KMART has a top-rated return policy. [4] There's no obvious rhyme or reason to a store's return policy. Different stores in the same chain, such as Sears and Kmart, may have different rules depending on their prices and what they sell. [4]
Some retailers are even relaxing policies when it comes to gift returns. Mega retailer Target expanded its return policy this year. [1] Consumer Reports scanned various policies at a number of notable retailers and found the return period ranged from 30 days to as many as 180 days. [3] Most retailers have perfectly reasonable return policies, but some are better than others, according to Consumer Reports senior editor Tod Marks. [3]
The professors studied a major retailer and found that the "optimal rate of returns" that would result in the greatest profit was 13 percent. Not all retailers have tightened their return policies. Such stores as Nordstrom, Lands' End and L.L. Bean are known for their willingness to take back items even after they've been worn. [1] Different stores have different return policies and the more you know could save you money, time and prevent rage if you're denied. [2] Sometimes store managers have a little wiggle-room when it comes to return policies. [1]
There are a few things you can do to make that process easier. Retail stores are not required to give cash back when a customer returns something, and they don't even have to let a customer exchange the product, although most do. [5] Some of the biggest changes for the worse, for law-abiding customers have to do with restocking fees, now increasingly common and more expensive. The state found that half of 39 retailers surveyed levied restocking fees ranging from 10 percent to 60 percent of an item's price on products such as electronics, furniture and mattresses. [4] Target slaps a 15 percent restocking fee on camcorders and other electronics. [4]
Bidz.com only gives you 15 days to return and there's a 15 percent restocking fee. [5] Holiday headaches will last long after the season is over, as return shipping costs, restocking fees and other gotchas prevail. [3] If you think you'll return the gift, don't tear open the box or you could be charged a restocking fee. [6] "(But) a lot of people bring Wal-Mart stuff here. I think they forget where they shopped." The mere thought of dealing with any of this restocking fees, receipts or long lines has many thinking ahead to avoid the headaches. John Flaherty, 22, of Duxbury didn't take any chances with his gifts this year. After years of returning CDs that his parents gave him, Flaherty said he now shops with his mom, Sheila, to make sure she gets the right stuff for him. "He picks it out, and then I bring it home and wrap it," Sheila said. [4] Target grants 90 days for a refund with a receipt (some electronics have a 15% restocking fee). [3]
Sears has a 90-day refund or exchange policy for most goods, 30 days on electronics, customized jewelry and other items including mattresses. [3]
Follow the instructions on your online purchase receipt carefully. You'll likely have to pay for the postage to return the item, but you don't have to pay for the postage for the item being shipped to you if it's an exchange. [5] Merchandise also can be exchanged without a receipt for something else in the same department of equal or greater value. Now those return periods first begin to run Dec. 26, rather than from the purchase date (Nov. 15 or after). [2] "In the event that a customer has returned more than three items without receipts within a 45-day period, the cash register system will automatically flag the transaction, and a customer service manager or member of management must approve the return. These cash register messages will remain for six months and will disappear if there are no more returns during that time period." [2] You may only have a short period of time ''' perhaps 30 days or less ''' to make a return. [7]
Of course, returns are not all bad for retailers, either. A recent report in The Wall Street Journal by professors J. Andrew Petersen and V. Kumar argued that customers who return the most merchandise actually are likely to buy more than shoppers who are afraid they'll be stuck with something they don't like. [1] Retailers like Kohl's, renowned for having no return deadlines and allowing returns for store credit without a receipt, are the exceptions. [4] Some stores use companies like The Retail Equation to track how often you return items. [1] If the item was purchased online, see if you can return it to a walk-in retail store. [6]
If the product is defective, the store may want you to return it directly to the manufacturer instead of to the store. [7] Before you do, here are some things you should know just in case you want to return a gift to the store. [6] You might want to call ahead before fighting the crowds of other people trying to return gifts to the store. [6]
Don't disrupt the packaging. Some stores won't accept returns unless the item is in its original package. [8] Stores are likely to refuse a return if the packaging materials are open or discarded. [3]
KEEP ALL PACKAGING INTACT. If an item comes back and the box is dinged or damaged, it's going to be more difficult for retailers to return that at the best price possible. [9] All four retailers will take back unwanted merchandise, no questions asked. Zappos gives you a year to decide and asks that the goods be returned in their original packaging and condition. [3] "However, there is good news: Most big retailers will generally accept returns on merchandise purchased between November and Christmas through the end of January." [3]
Even a missing instruction manual, cords and cables or warranty card can give retailers reason to deny the return. -- Be wary online. [3] Online returns usually require a packing slip (typically included in any gift order), and a return authorization number. [3] Target no longer requires receipts for returns, as long as the total amount of returns made within a year is less than $70. [4] An even exchange is offered without a receipt, up to $70 worth of merchandise within a year. [3]
Now, if you don't have your Target receipt, you can still return as many items as you want, up to $70. [1] You need one for returns at Kmart, but Wal-Mart takes returns without a receipt for a cash refund if the item cost less than $25. [4]
The lucky ones will lug in a gadget from Grandma, and walk out with cash. Others may leave frustrated, perhaps forced to fork over an unexpected "restocking fee" or be told they can't return their present at all. "It's a hassle," said Gail Fraser of Braintree, while filling a Kmart shopping cart. [4] The penalty also applies to some other products. -- Home Depot: special-orders and some cancelled orders are subject to a 15 percent restocking fee. -- Macys: 10% restocking fee on furniture. -- Newegg.com: 15% restocking fee on all major purchases if the box is opened. [3]
For every place like Zappos.com, which pays return postage a full year after a purchase, there's a site like Amazon.com. [4] Dillard's requires a receipt or proof-of-purchase label and packaging on returns. [5] Internet retailers usually require a packing slip and a return authorization number. [8]
Finishline does not accept returns after 45 days, even if your shoes have a manufacturer's defect. [5] Home Depot does not accept returns on some items and no online items can be returned in-store. [5]
Office Depot gives you only 14 days for electronics and furniture. Overstock.com has restrictions such as you can't return TVs over a certain size. [5] Electronics can be especially tricky to return. Very often you cannot return laptops, TVs and camcorders once they're opened. Be sure to check the policies on these items before opening the boxes if you're not sure you're going to keep them. [5]
Along with knowing the policies, don't be defensive when returning an item. Most stores understand that it is part of the cost of doing business and they will try to make the process as pleasant as possible in order to secure your business in the future. [5] Stores that seem to sell the same kind of merchandise often differ on when items must be returned, how much it will cost and what paperwork (if any) is required. [4]
Whatever the policy, one way to make returning unwanted presents simpler is to get gift receipts. That way, the person returning it will get the amount you paid, not the after-holiday sale price. [5] 19% of people plan on returning a gift after the holidays, according to a recent Consumer Reports poll. [3] "If you're trying to exchange a blue sweater for that red one you've been eyeing, you may be out of luck," said Greg Daugherty, executive editor of Consumer Reports. [1]
SOURCES
1. Have a gift to return? Don't wait too long
2. Returning gifts can be hassle-free - Business - Macon.com
3. MELODIKA.net - Consumer Reports: Avoid Return Gotchas Before Buying a Gift
4. With unwanted Christmas gifts, many unhappy returns - Quincy, MA - The Patriot Ledger
5. Tips for Returning Unwanted Gifts
6. Tips for returning holiday gifts - 21 News Now, More Local News for Youngstown, Ohio -
7. Tips for Successful Holiday Returns
8. Seattle Shopping | Merry Christmas, and happy returns | Seattle Times Newspaper
9. Many Happy Returns | WDEF News 12 | News, Weather and Sports for Chattanooga and the Tennessee Valley
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