All you need to know if you return gifts after Christmas
PHILADELPHIA (CBS) – With the holiday season comes the spirit of giving. But, not every gift you get you'll want to keep. That's a dilemma for many as retailers are now upping return fees.
We talk a lot about before-Christmas sales but the post-Christmas deals are expected to bring many people out this week.
A National Retail Federation survey found that 70% of consumers plan to shop, and the top reason given is to take advantage of after-holiday sales. That's followed by those who want to use the gift cards they received under the tree. 18% of shoppers say plan to return unwanted gift items.
But something to watch out for: return fees for online items. Many businesses that weren't charging before are charging now.
"About 40% of our merchants are charging for refunds, and that's up. it's nearly doubled in the last 12 months," Jonathan Poma, CEO of Loop Returns, said. "When you start to stack these costs - free shipping on the outbound order, free shipping on their return - maybe a customer acquisition cost of 50 bucks, and you're out almost twice the cost of the return."
For more advice on returns and post-holiday shopping, check out the Delaware Valley Consumers' Checkbook. They're giving CBS3 viewers free access to their tips until Jan. 20.