Holiday gift returns may cost you this year

ATLANTA - A big part of the holiday buying season is the after-Christmas returns. It’s inevitable. Gifts are exchanged or returned. In the U.S., return policies have always been the best in the world, and they got even better in the last year or two. Returns went from 14 days, to 30 days, to ‘bring it back next year.’

And it’s still that way with many retailers, but there are changes afoot. Retailers take a huge hit when you send things back, and that’s starting to add up for them. 

The National Retail Federation says that for every $100 in returned merchandise, more than $10 is lost to return fraud. And even if the return is on the up and up, it costs more to take things back than it used to in fuel and labor. 

Big retailers like JCrew charge $7.50 for a prepaid label to return now by mail. Abercrombie & Fitch charges $7 if you don’t return the item in person. And many others have followed suit. This can in some cases apply to gifts too. 

So do a few things to make returning easier: Put a gift receipt in that package. If you have received a gift and need to return, do it quickly. Next year is near. Time will get away from you. And, consider returning it in person. It’ll be cheaper in some cases. You could even make that part of the gift - offer to make that return for some people. 

This is why so many people turn to gift cards. It's an easier option for most.