How to make sure your gift is usable and returnable

Your Money Matters

SIOUX FALLS, S.D. (KELO) — After a busy weekend of holiday shopping many people are spending the next couple of days wrapping all of those presents. But as you’re getting your gifts ready, there are something to keep in mind to make sure everyone can get the most out of your gifts.

“If you think there’s a chance the gift may need to be returned, make sure you have the gift receipt,” Jessie Schmidt with the Better Business Bureau said.

While you’ve probably spent a considerable amount of time shopping for the perfect gift, returns or exchanges are an inevitable reality of holiday gift giving. A retail study of 16,000 shoppers  by Oracle Retail and Savanta revealed about 75 percent of people plan to return at least a portion of their gifts this holiday season.

“It’s really important to know what the individual store policy is for returns,” Schmidt said.

Including a gift receipt is usually all it takes to return an item for a full refund, even if it was purchased online.

“There are local options where you can make your amazon returns, then you know it’s in the system, then they can use that to purchase something else,” she said.

Those gift receipts are important even for items that may not be returned.

“Gift cards are the most asked for gift now,” Schmidt said. “We know there is fraud associated with those as well.”

A receipt can help make sure your gift card is used by the person you intended it for.

“Sometimes scammers have taken pictures of the back sides of those cards and the minute that card is loaded, they go online and can see how much was loaded onto that card,” Schmidt said.

But if you have a receipt of where and when that card was purchased, your gift could be saved.

“There are many retailers will help you as it relates to these gift cards scams, these are growing all of the time because they are one of the most asked for gifts this time of year,” she said.

Schmidt says everyone can expect long lines at the return counter for the week or two following Christmas. So if you realize now that you’ve purchased a duplicate gift for someone, you’d be better off returning the item tomorrow instead of making your loved one stand in a long return line following the holidays.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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