A majority of stores point to costs in re-examination of policies, reports NBC 7 and Telemundo 20’s Claudia Simonés.
After the busy holiday shopping season comes returns season, but that could get harder. A new report says 60%of retailers are changing their policies. So what does that mean for you?
The National Retail Federation said in 2021 that nearly 18% of all holiday presents were returned.
Many of the biggest retailers have extended return windows into January. Most items can be returned until January 31 to Amazon and Walmart; Target shoppers have up to 90 days to get a refund.
While many stores have extended return policies, the NRF says you may want to double-check.
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“Many retailers have also begun to change their return policies to account for an increase in return fraud.” reads the NRF’s 2022 Holiday Outlook.
It’s a costly problem. The NRF estimates for every $1 billion in sales, retailers incur nearly $170 million worth of costs for returns.
The new report from GoTRG, an industry data analytics group, looks at exactly how the policies are changing.
- 32% of stores, including retailers like Gap and J. Crew, are adopting shorter return windows during the year
- 67% of stores — including Anthropologie, REI and L.L. Bean — now charge a fee for all mailed returns
- 24% of stores say they will also try returnless refunds, just so they can avoid the restocking and shipping costs
The return rate for online orders is much higher than for items bought in-person. So if you’re trying to avoid a possible return headache, heading to the store itself could be your best bet.
