As the festive season concludes, many retailers brace for a significant surge in product returns, a post-Christmas ritual for countless shoppers. While some individuals frequent stores looking for after-holiday deals, a considerable number are lined up to return gifts that did not meet their expectations.
On Michigan Avenue, the day after Christmas saw a bustling crowd, with shoppers like Tracy Fontana opting for exchanges rather than outright returns. Other patrons, such as Elaine and Dennis Chaseton, reported exchanging clothing items that were bought in the wrong size.
According to the National Retail Federation (NRF), an estimated 17% of the $1 trillion spent on holiday shopping this year is likely to be returned. This season, however, shoppers are encountering new challenges, including fees imposed by some retailers for returns. Recent data reveals that nearly 72% of merchants surveyed by the NRF are now charging restocking fees, a notable increase from 66% in the previous year.
Steve Bernas, the president and CEO of the Better Business Bureau, emphasizes the importance of consumers keeping their receipts and being familiar with return deadlines and policies. He notes that the shift towards stricter return procedures is partly driven by increasing instances of fraud during the holiday shopping season—a concern that retailers are striving to address through new regulations.
Retailers such as Marshalls and T.J. Maxx now charge $11.99 for each mailed return package, while Macy’s, JCPenney, and J.Crew impose fees of around $10, $8, and $7.50, respectively. Shoppers are starting to recognize these patterns, as James Cranmer pointed out, suggesting retailers are trying to recoup costs associated with returns. Claire Copeland echoed this sentiment, comparing returning dresses after brief use to common shopping behavior that retailers are beginning to curb.
Despite the stricter policies, returning unwanted items remains a necessity for many. Lindsay Fontana shared her experience of exchanging a bracelet that her brother bought for his girlfriend, which was the wrong size. Experts recommend that shoppers act promptly; returning items as soon as possible reduces the risk of missing deadlines.
In an effort to circumvent return fees, shoppers are encouraged to return items in-store or enroll in loyalty programs, which often provide benefits that can mitigate additional costs. Additionally, consumers who received gift cards are urged to use them promptly, as the risk of retailers becoming bankrupt or ceasing operations could render these cards worthless.
As the post-holiday season unfolds, consumers should remain vigilant and informed about their rights and responsibilities when navigating return policies, ensuring a seamless transition into the new year.
