There's bound to be at least one thing under the tree today that's the wrong size, wrong brand or just plain wrong.
The good news is that returning the misguided gift might not be so hard this year. Nineteen percent of retailers surveyed by the National Retail Federation changed return policies this year - some with an eye toward making the process easier in an effort to increase sales.
Sears, for instance, has long allowed a 120-day window for holiday purchases. But this year, the window started on Nov. 14, a few days earlier than last year.
"It quite honestly made the most sense," said spokeswoman Natalie Norris-Howser. "We did see the purchases being made for holiday earlier through our layaway program. We did not want to make the customer more hesitant to purchase because of the return policy. You might as well make it as easy as possible for them."
That may be what a lot of retailers choose to do, rather than risk alienating shoppers, said Joe LaRocca, senior asset protection adviser for the National Retail Federation.
"This year, retailers have been laser-focused on sales," he said.
But while some stores have loosened their policies, LaRocca said, others have tightened up in an effort to reduce return fraud.
The federation estimates that retailers will lose $2.7 billion to return fraud this holiday season, part of an overall $9.6 billion for the year.
Rather than change their return policies, some retailers are combating return fraud with new technology. For instance, department stores including Nordstrom and Macy's now use special stickers that cashiers place on the tags of items when they are purchased.
Stickers aid tracking
Those stickers allow the register to track how much was actually paid for an item, where it was purchased and the specific transaction number. All of that information ensures a more accurate return system and better inventory management.
"At some of these stores, if you have the sticker attached to that item but you don't have the receipt, that sticker is as good as the receipt," LaRocca said.
