Several online sites let you "name your price" for lodging, rental cars, consumer goods, events, and more. It helps to have a strategy.
Guide to Retailers' Return Policies
Let's be honest: Some purchases and some gifts just cry out to be returned. Perhaps you discover a defect in the product or develop a case of buyer's remorse.
Ever the frugal shopper's friend, Cheapism decided to pull together a consumer-friendly guide to the store return policies of 22 of the country's largest retailers. We compared standard store return policies to those adopted during the holiday season and identified some standouts. JC Penney and L.L. Bean, for example, earn gold stars for their straightforward and open-ended store return policy regardless of the season. Macy's and Kohl's win our favor for their lenient return rules all year. Online retailer Overstock sits at the bottom of the list due to tight restrictions on refunds in general and miserly rules for holiday purchases. This chart summarizes the data we gathered.
We were surprised to find that less than one-third of the retailers we researched offer extra time to return holiday gift purchases. And those that do -- Amazon, Barnes & Noble, Best Buy, Overstock, Sears, Target, and Walmart -- merely extend the regular return period, which often amounts to 30 days but may be as short as 14 days, into January.
Upon closer examination, however, it became clear that most store return policies are already more generous than the temporary holiday return rules instituted by a handful of vendors in our survey. Five stores on our list -- Bath & Body Works, JC Penney, Kohl's, L.L. Bean, and Macy's -- accept returns year-round for an unlimited period. Twelve retailers -- Cabela's, Foot Locker, Gap, Home Depot, Kmart, Lowe's, Sears, Target, Toys R Us, Victoria's Secret, Walmart, and Zappos -- keep the returns window open far longer than 30 days for many, if not all, items. (Some retailers have different store return policies for different merchandise, which is why Sears, Target, and Walmart show up in two of the groupings above.) GameStop maintains a strict and time-limited policy at all times and makes no allowances for holiday purchases.
Many of the store return policies we reviewed use similar language and outline very similar rules. Some common threads among retailers' standard return policies were easy to pick out. For example, for vendors with both an online and offline presence, returning items bought online to a storefront is generally hassle-free. If you send back an item, the retailer may not allow an exchange for a different product and typically will charge shipping costs against the refund unless the product arrives damaged or in error. A few vendors assess a flat return fee and fewer still (e.g., Foot Locker, if the return is made within 30 days, and Gap) cover the cost of return shipping.
We also found that retailers almost always issue refunds in the same form as the initial payment. In other words, if you paid with cash, you'll get cash back; if you paid with a gift card, you'll receive a new gift card; etc.
Store return policies also contain exceptions. Because of the ease with which someone can rip or install software and copy music, movies, and video games, or just use media for a few days (think ebooks), these items rarely can be returned, although defective copies can be exchanged. Similar store return policies typically prevail for collectibles, such as baseball cards and action figures, whose value drops precipitously once the packaging has been opened. Gift cards, personalized items, hazardous materials and firearms, grocery items, health care products, clearance merchandise, and the like almost never are accepted for return.
Note that most store return policies require a receipt or invoice for a refund. L.L. Bean is an exception to the rule, as is Walmart, where customers returning items in-store can get cash back for purchases under $25, no questions asked. Some retailers, including Best Buy, Cabela's, Bath & Body Works, and JC Penney, often ask for a photo ID when customers return items to brick-and-mortar locations so they can keep an eye out for abuses of their policies. Store return policies occasionally are more lenient when it comes to offering an exchange or granting store credit absent proof of purchase. Cabela's, Bath & Body Works, Kohl's, L.L. Bean, and Walmart, for example, allow this practice. With the proliferation of computerized sales systems, however, many retailers, including Home Depot, Kohl's, Lowe's, and Target, can retrieve past transactions within an allotted time frame if you present the credit card used for the original purchase (sometimes a phone number will do).
Gift recipients often must follow a slightly different set of store return policies. Upon request many vendors supply a gift receipt that must be presented when visiting the returns window, and gifts ordered online come with an invoice and/or packing slip. Returned gifts almost always qualify for store credit rather than a refund, and normal return shipping policies apply; Walmart offers pre-paid shipping only for a replacement if something is wrong with an item.
Always hold on to the original packaging (including the shipping box) regardless whether you bought the item or received it as a gift. And think twice before tearing the product packaging apart. Many retailers won't take back certain merchandise that's been opened, particularly media items (e.g., video games and music) and jewelry. Other retailers, such as Overstock, Toys R Us, and GameStop, reduce the refund or allow only an exchange for an identical item when the original packaging has been opened. Always, always read the fine print in any store return policy.
For a different take on holiday store return policies, Consumer World highlights changes from prior years for many major retailers.
Best Store Return Policy
Amazon Return Policy
The standard Amazon return policy gives customers a 30-day window. In most product categories the customer is responsible for shipping charges, but select merchandise qualifies for free return shipping.Read more »
|Visit Amazon.com for More Information.|
JC Penney Return Policy
JC Penney's return policy is unbelievably straightforward. There's no deadline for making a return and you can exchange an item without a receipt or return it for a gift card. Although the retailer doesn't condone the practice, even items that have been worn can be returned as long as they appear new. Customers can call a 24/7 support line for help.Read more »
Kohl's Return Policy
The Kohl's no-questions-asked return policy sets no time limits but requires proof of purchase and says goods must be in new condition for a full refund. Credit card transactions can be traced back one year for customers lacking a receipt or invoice.Read more »
L.L. Bean Return Policy
The return policy at L.L. Bean is grounded in the company's 100 percent satisfaction guarantee. The return period is open-ended and no proof of purchase is required for a refund, exchange, or store credit.Read more »
Macy's Return Policy
Macy's, a retailer with a national and online presence, accepts returns for an unlimited time. Without proof of purchase, however, the company will refund the lowest retail price during the past 180 days.Read more »
Best Buy Return Policy
The standard Best Buy return policy allows customers just 15 days to decide whether to keep or bring back an item. For the holiday season, Best Buy loosens its return policy so that gifts purchased between November 3 and December 31 can be returned through January 15.Read more »
Home Depot Return Policy
Given the array of home improvement products available under one roof or through one web portal, it's hardly surprising that the return policy at Home Depot varies by product.Read more »
Sears Return Policy
Sears maintains both a regular and a holiday return policy. The specifics depend on the product.Read more »
Target Return Policy
We found the Target return policy to be quick, easy, and readily understandable, particularly for holiday gifts.Read more »
Toys R Us Return Policy
Toys R Us may be all about fun and games, but the Toys R Us return policy is relatively strict.Read more »
Overstock Return Policy
This online vendor issues only partial refunds for all open items, a policy that seems punitive compared with others that typically impose similar restrictions on only a select few product categories. Overstock gives holiday gift buyers and recipients a bit of breathing room by extending its standard 30-day return period into January.Read more »
Bath & Body Works Return Policy Review
Cabela's Return Policy Review
Foot Locker Return Policy Review
GameStop Return Policy Review
Gap Return Policy Review
Kmart Return Policy Review
Lowe's Return Policy Review
Victoria's Secret Return Policy Review
Overstock Return Policy Review
Best Buy Return Policy Review
Home Depot Return Policy Review
Sears Return Policy Review
Target Return Policy Review
Toys R Us Return Policy Review
Zappos Return Policy Review
Amazon Return Policy Review
JC Penney Return Policy Review
Kohl's Return Policy Review
L.L. Bean Return Policy Review
Macy's Return Policy Review
Walmart Return Policy Review
Some states impose sales taxes for online purchases, but strategic shopping can minimize that extra expense.
December is an excellent month to take advantage of sales on toys, electronics such as TVs, kitchen cookware and more.