Working Mother: The rules of regifting and returning

Working Mother magazine recently interviewed me for a story about regifting and returning. Here are some of my tips on returning unwanted holiday gifts:

Receipts:
For an easy return, make sure you have a receipt. Things go so much smoother if you have one. If not, see if you can get a receipt from your gift giver by using your social graces: “I love what you gave me but it just doesn’t fit. Was there a gift receipt?” Adds Cataldo, “Returning without a receipt can be problematic. It’s probably a social faux pas to ask for a gift receipt, but if it’s something you already have, like a movie, you can ask for a gift receipt and say you’d love to exchange it for a different one you don’t have.”

Condition of Product:
To get the most credit from your return, make sure the product is in new, resellable condition when you bring it back to the retailer.

Changes in Return Policies:
Some stores reduce their return policy to just 30 days from 60 to 90 days just for the holiday season, so return products as soon as possible.

History of Returns:
Since return fraud is very high these days, watch out for some stores limiting the amount of returns you can make without a receipt. Some big retailers may limit you to as low as one or two non-receipt returns per year.

Lower Value:
After the holidays, you may be given the lowest sale price in the last 30 days when you don’t have a receipt. “They will not necessarily give you what the gift giver paid for that item,” says Cataldo.

Fees:
Some stores may charge restocking fees for products like electronics and DVDs, which can lower the amount of money or credit you get back.

Reselling:
When you’ve exhausted all other methods, reselling may be the best option. “If you feel a gift has enough inherent value from the brand or designer,” says Cataldo, “a pair of shoes, a dress or other piece of clothing, and the store really will not take it back, you may want to look at Ebay to resell.”

Read the entire article at Working Mother