Daily Dupaco

Wednesday, December 02, 2009

Buyer beware: Return policies tightened this holiday season

Not sure which gaming system to buy your kid this season? You may want to do some homework before buying multiple items with the intention of returning those you decide against.

That's because, according to the results of a survey of retailers by the National Retail Federation trade group, compared to return policies of 2008 nearly 16% of retailers' policies will be tighter this year.

Before you make that purchase in-store or online, make sure you have read up on the retailer's return policy.

Consumers should pay particular attention to the following points within retailers' return policies this season, as recommended by Smartmoney.com reporter AnnaMaria Andriotis:
  • Restocking fees (particularly on electronics or special-order items, which may range from 10%-20%)
  • Limited timeframe for returns
  • Store credit-only on merchandise that was originally paid for with cash or credit card
  • Shipping cost for returning items purchased online
  • Layaway item return or cancellation fees
Of course, always save your original receipts, and when gift-giving, include gift receipts whenever possible.
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