In years past, consumers have been able to get a gift for a loved one and he/she may not like it (or act like they like it), could return the gift and exchange it. That was the whole point of the gift receipt. Well in 2005, retailers are cutting back on frequent returns. JC Penney and Sears are instituting 15% restocking fees on consumer electronics. CrapUSA CompUSA has been doing this ever since I could remember them being open. Larger chains such as Wal-Mart and some video game retailers are tracking serial returners. About 3% of Americans return items that are broken and that causes problems for the rest of the consumers. This isn’t news to people, but the new restocking fees are. Here are some tips for gift returns.
- Keep the gift receipt/receipt.
- Carefully check store’s return policy for surprises.
- Check for extended holiday return dates.
- If you don’t like the gift, don’t open it.
- Online return policies may differ and check to see who pays for return shipping.
- Don’t miss return deadlines!
