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Sunday, January 3, 2010

Check out Consumer 10 Report: Clock is ticking for returning Christmas gifts

Click here: Consumer 10 Report: Clock is ticking for returning Christmas gifts | The Columbus Dispatch

CONSUMER 10 REPORT
Clock is ticking for returning Christmas gifts
Sunday, January 3, 2010 3:39 AM
WBNS-10TV

With the holidays over, it's time to return.

Time to return to work.

Time to return to school.

And time to return the last of those Christmas gifts you didn't want or need.

Heading into the holiday season, 19 percent of Americans said they expected to return at least one gift, according to a survey by Consumer Reports.

Those trying to make good on their predictions might be finding the process more difficult than last year, when U.S. retailers took back an estimated $47 billion in unwanted Christmas gifts.

About 17 percent of retailers tightened their return policies this holiday season, the National Retail Federation recently reported. Most cited a desire to boost profits and/or curb fraud, the trade association said.

"Retailers are constantly trying to fine-tune return policies to create guidelines that honest customers can live with and dishonest people can't get around," said Joe LaRocca, a senior adviser to the federation.

Whether a given retailer's return policy is brand new or decades old, someone seeking to return a holiday gift should act quickly because the clock almost certainly is running.

Although a few retailers offer full refunds for up to six months or more, others have much tighter deadlines -- and many more caveats.

In some cases, the amount of time you have to return an item depends on the item itself. Several big-name chains, for example, stipulate that certain electronics -- things such as camcorders, computers and digital cameras -- must be returned within 14 or 15 days.

And if the item you're returning has been opened, some of those chains will offer only an exchange -- not a refund or store credit.

Other retailers charge a restocking fee, especially if the returned merchandise has been opened. Such fees typically range from 10 percent to 15 percent of the item's purchase price, although they can go as high as 25 percent.

"There is good news," said Tod Marks, senior editor for Consumer Reports and author of the magazine's "Tightwad Tod" blog. "Most big retailers will generally accept returns on merchandise purchased between November and Christmas through the end of January."

Consumer Reports reviewed the policies of a number of high-profile retailers and found that their return periods typically range from 30 days to 180 days. The list of retailers receiving high marks from the magazine included Bed, Bath & Beyond; Costco; Kmart; Kohl's; Lowe's; Nordstrom; and Sam's Club.

The magazine said some chains offer "exemplary policies year-round." Among them: Orvis, L.L. Bean, Lands' End and Zappos.

Zappos gives you a year to decide and asks only that the goods be returned in their original condition and packaging. The others say you can return anything, at any time, for any reason.

That might be something to remember next fall -- come the start of yet another holiday shopping season.

chuck.strickler@10tv.com


■ Watch "Consumer 10 Reports" on WBNS-10TV or visit the "Consumer 10" section of 10TV.com.



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