Holiday Returns

You've wrapped up all of the holiday celebrations so now it's time to get down to business. How do you start the return process for those gifts that weren't quite right?

Elizabeth Harper, writer for dealnews.com, wrote, "Many retailers are offering extended holiday return periods, but be sure to read the fine print, as you'll get shorter windows for certain products." She noted that the average return window is 30-90 days after purchase.

Make sure you have the proper paperwork to handle the return. While you do not always need the original receipt or a gift receipt, having one will make the process much easier. Without this type of proof of purchase, you may only be able to get store credit (usually for the lowest price the item was offered) or an exchange, rather than a refund. So if you have received a gift that you don't want, it is worth asking for the receipt. (hint: Whenever you are giving a gift, include a gift receipt - just in case!)

Amy Brightfield, health and features director at Better Homes & Gardens, gives advice on returns, whether you are doing them in-store or online. The benefits to returning in-store are that you get to talk to a real person (instead of an automated system), you can shop then to find a replacement, and you don't have to deal with shipping labels. If you are making the return in the store, make sure to have your government-issued ID with you; many stores now scan your ID to prevent against serial returners and scammers. The strongest benefit to online returns is that once everything is packed up and labeled correctly, you just have to make one stop to drop them off at the post office. Be careful about online returns though. They take longer than in-store returns and some stores charge a restocking fee or make you pay for the shipping to send the item back. Some stores, such as Ann Taylor, Old Navy, and J.Crew, allow customers to return items in-store that were purchased online. Having the order number, email confirmation, or gift receipt is especially helpful in this situation.

The Better Business Bureau (BBB) recommends checking manufacturer warranties, especially with electronics and many home appliances. In these cases, the warranty is fulfilled by the manufacturer, not the retailer. It will be important to find out how the store handles returns or repairs if an item stops working.

As a little P.S. - what about gift cards that you won't use? Timm Walsh, past board chair emeritus of the Retail Gift Card Association, said, "Now we're seeing these exchange sites that you can actually go and swap it out for another card that you might find value in or have more of an appeal for." Some websites boast that they are "gift card exchange sites" - where consumers can buy and sell gift cards, usually at a discount. Giftcards.com estimates that most users receive between 70% and 92% of the face value of the gift card in cash.

Shelley Hunter from Gift Card Girlfriend offers another idea: use the gift card to buy a present for someone else. With birthdays and other celebrations happening year-round, chances are you can find a present for someone on your gift list during the year. What if you won't use the gift card and can't trade it for cash? Find someone else who will take it off your hands. You can regift the card or donate it to a good cause. Courtney Neidel from NerdWallet gives CharityChoice as one example. It is an organization operated by a nonprofit that allows you to donate unwanted store and restaurant gift cards to your choice of more than 2,500 charities.