(LEX 18) — It's going to be a busy couple of weeks at shopping centers as people look to return or exchange gifts that didn't work out. If you're planning to bring items back to the store, it's worth doing a bit of homework first.
The National Retail Federation says in 2021 and 2022, about 18% of gifts were returned. Heather Clary is the spokesperson for the Better Business Bureau serving Greater Kentucky and South Central Indiana. She says it's worth doing your homework before leaving home.
"What a lot of folks don't realize is that retailers are permitted by law to set their own refund and exchange policies. Some are more generous than others, so it's important to know that when you do go out into the fray to exchange that item," Clary said.
In the last year or so, Clary said a lot of stores have made changes to their return policies, so if you're used to having a large return window, the rules may have changed.
"Some stores are tightening up their policies a little bit more. Some of them even want to see ID if you are returning something. I think a lot of retailers have run into serial returners, people who do it constantly, and so they're trying to reign that in a little bit," Clary said.
For certain items, Clary said, you might not get all your money back.
"Another thing people might run into is restocking fees. If you received electronics, video games, items like that, many times, a retailer is going to charge a restocking fee. That is very typical and they are able to do that," Clary said.
