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Nov 18, 2009 5:47 pm US/Eastern
Retailers Using Stronger Return Policies
PITTSBURGH (KDKA) ―
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The slumping economy is forcing retailers to change their return policies.
CBS
The current economic times dictate caution with what consumers are spending money on these days.
Especially when it comes to holiday shopping and the possibility of items needing to be returned.
A recent survey showed 16 percent of people were tightening their return policies this year. While returning that "just right" item you are about to buy may be the last thing on your mind, asking questions about returns should now be required.
When something is not right there is no gray area, we want our money back and we want it now.
The National Retail Federation said almost $43 billion in holiday purchases will be returned this year. That equates to almost one in every 10 purchases and with a lot of scam artists out there, stores are adding to the fine print of return policies.
"For the holiday season, make sure you have your receipt for everything. Just keep your receipt is the best bet," Amber Blue said.
Blue has the right idea, but it's not always that easy. Some stores will only give store credit, which is why you need to ask about return policies before you buy.
"Policies you want to avoid: ones that won't give you a full refund or that only give you a small window of time to return something," Jody Rohlena said.
For example, at Best Buy the exchange and return period depends on the original purchase date which can only be proven with a receipt.
"Another restrictive policy: Office Depot. You only have 14 days to return furniture and electronics," Rohlena said.
Office Depot's policy is actually common with a lot of electronic sellers. If it's not 14 days, the time is limited.
In the case of Sears, if you try to return a home electronics item without the original box, used, and without all of the original product packaging and accessories, you will be charged a 15 percent restocking fee.
"Target specifically is very easy because you don't have to have the receipt. If you used your debit card, they can check on the debit card," Sherri Rispoli said.
In a recent survey of consumers, Target indeed was considered one of the best when it comes to return policies. So were K-Mart, Nordstrom, and Kohl's.
"I think it's pretty easy at some of the stores. Target and Kohl's I don't find a problem, in fact I really like Kohl's policy. They don't require you to have a receipt. If you purchased on a charge card, they can just look it up and give you a full refund, so that's great," Celeste Schantz said.
The importance of the receipt cannot be understated without it at many places like JCPenny you will receive the lowest on sale price within the last 30 days regardless if you paid full price when you purchased the item.
Perhaps you are thinking in this tough economy that retailers will lighten up a bit.
The retail federation survey those changing their policies this year are making them tougher, not easier.
Another important point is that the Attorney General's Office of Consumer Protection said there is no state law requiring a merchant to return your money, or accept returns.
The only requirement is that they honor whatever policy they have developed and made public.
(© MMX, CBS Broadcasting Inc. All Rights Reserved.)
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