CPB teaches art of gift return

With this holiday season’s gift return rates expected to increase from last year’s and consumers on the prowl for even better bargains, the New York State Consumer Protection Board (CPB) is teaching shoppers the art of the successful gift swap.
According to the National Retail Federation (NRF), around 40 percent of Americans return at last one gift after the holidays, and this year 8.7 percent of items, up from 7.3 percent last year, will be returned.
In light of new, more relaxed return policies and a projected $47.1 billion in holiday sales returns, the CPB is educating consumers on the ins-and-outs of post-holiday bargains, refunds and store credits. The CPB cautions, however, that under New York State law there is no requirement for a store to offer a refund in the form of credit, cash or replacement merchandise. But if the retailer does not have any posted policy, the law requires that retailer to accept a return within 20 days of purchase, the CPB says.
Even if a store has no return policy, consumers have a right to obtain a refund for returned damaged or defective goods, unless a particular item was sold “as is,” according to the CPB.
The CPB advises consumers to learn a store’s return policy - either on the store’s website or over the phone - before attempting to return an item, warning that some stores do not offer returns, while others charge restocking and other fees. Likewise, certain retailers require a receipt and even a government-issued ID in order to receive store credit.
While various retailers have extended their return period, to 90 days in some cases, stores are also increasing oversight to make certain all returns are legitimate. The Privacy Rights Clearinghouse (PRC) is cautioning consumers that many major retailers have begun outsourcing their collection of return and exchange data including the number and value of returned items, and information such as when a consumer last shopped at a particular store. Thus, consumers may be incorrectly red-flagged for return fraud, the PRC says.
Additionally, merchants are on the lookout for “wardrobing,” or the return of non-defective, used merchandise. The CPB advises consumers not to open any gifts they are planning on returning.
Consumers can find more information on gift returns on the CPB’s website, www.nysconsumer.gov.