Refunds and Returns

You walk into your favorite retail store, browse the racks and buy what you think is the ideal product. What happens if you decide you don’t like the item? Do you understand the refund return policy of the retail store? If you do not, you may get stuck with a blouse that doesn’t fit, or a curtain rod that is too short.

If you buy an item in the store with the intention of giving that item as a gift, you also need to understand the store return policy. Does the person returning the gift need the original receipt? Some stores now offer a gift receipt which you can give to the person if they need to return the item. The gift receipt does not include the price of the item so you will be spared any embarrassment. 

If you buy the gift to send to someone in another state, you should anticipate that the recipient might need to return the item. Use an online store locator to find the retail outlet closest to where your friend or family member lives.

If you purchase a product online, you should also check to see if the person receiving the gift can return the item without incurring shipping fees. 

Other refund return policy considerations include: 

1.    Can you get your money back or will you be expected to take a store credit?  

2.    Will the refund or store credit be reduced in value if you do not return the item within a certain period of time?   

3.    If the item you purchased is discounted after the purchase, will your refund or store credit be issued for the discounted amount or for the price you paid for the item at the time of purchase? 

4.    Will the store allow only an exchange rather than a refund?  

When you buy a product, you don’t usually think you will have to return the item. The fact is that store returns occur in a significant number of purchases, whether because an item is broken or because the item does not fit or a gift recipient already has the item you bought. If you plan for the return and understand the refund return policies of the store, you won’t have any surprises.