As the holiday season draws to a close and the new year approaches, many Americans will find themselves returning unwanted gifts in record numbers.
In fact, this year, it’s projected that over $10.1 billion will be spent on gifts that ultimately miss the mark, according to the New York Post. With such a significant amount tied up in unwanted presents, understanding the return policies of popular retailers has never been more crucial for savvy shoppers.
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Guidelines to returning a gift
Before you feel guilty about returning a gift, remember that many Americans do the same. The first step is to express gratitude to the giver while gently letting them know you’d like to exchange it for something else. Depending on your relationship, they may understand, but some might feel upset due to the sentimental value of the gift. So, ensure that the item you wish to exchange is eligible for return.
Next, if you have a receipt, be sure to check the return dates. Most companies have return periods ranging from one week to 90 days, with an average of 30 days. The receipt will also indicate the preferred return method, whether in-store or online. Additionally, some retailers require that items be unopened and unworn for returns, both online and in-person.
Lastly, always bring your photo ID when returning items. Some stores may require you to verify your identity to prevent the return of stolen items. While many stores accept returns, others have strict guidelines that may not allow them.
Retailors experiencing many stores returns
This holiday season, many retail businesses—such as Amazon, Target, Shein, and Best Buy—are experiencing a surge in returns, each with its own guidelines. For example, Amazon has a standard 30-day return window, but purchases made between November 1 and December 31, 2024, can be returned until January 31, 2025. In contrast, Walmart offers a 90-day return policy for both in-store and online purchases, allowing returns until January 31, 2025, for items bought between October 1 and December 31, 2024.
Whether you’re returning electronics or clothing, it’s essential to check the retailers' websites before heading out. The last thing you want is to arrive only to find that you’re ineligible for a full refund or a gift card. While shopping areas will be busy, the best time to return items with less mall traffic is between the day after Christmas and mid-January.
Although many shoppers have until the end of January, it may be best to return your gifts now. If not, you could always regift them to someone you feel would use the items more than you.
