PHOENIX — $150 billion worth of products bought over the holiday season will be returned, according to the National Retail Federation.
If you’re still trying to decide whether or not to keep a certain Christmas gift, time is running out.
Julie Ramhold, consumer analyst with DealNews.com tells ABC15 how long you have to return an item varies by store, but she suggests doing it now if you haven't already. Some companies like Amazon and Walmart have reported extending their return window until January 31, to accommodate the holidays.
But returning an item can end up costing you more. She says some stores make you pay to ship an item back. For some electronics, you may notice you’ll be charged a “restocking fee”. She says you’re better off going in person to make a return, then online.
“There’s a real risk of the item costing you more to return than if you were to hold onto it, donate it or regift it," Ramhold said. "Some cases, stores may offer store credit. In some cases, they may offer you essentially store credit for the lowest price it hit. So, if you spent more, you’re only getting the bare minimum back.”
If you don't have a gift receipt, she says you may be asked to verify that the item was bought at that certain store.
Some companies with more lenient return policies include Costco, L.L. Bean and Bath & Body Works.