Christmas 2011 will be different than 2010. Here is a quick primer on what is happening and what the trends are.
GET READY, RETURNS WILL BE TOUGHER
Retailers will be getting tougher on returns. The days of no question asked on returns may not be over, but many retailers are battling shrinking inventories, increased fraud and tighter profit margins. One area they can control is returns, so they will. Here are some facts.
• Returns will hit over $43 billion this year
• Retailers will see $9.2 billion is fraud
• With tighter inventories, they are looking to significantly cut that number
• There are very few laws governing returning. Stores don't have to allow returns. So be sharp.
• Know each store's rules before you buy.
• With on-line sales, ask who pays for shipping back returns?
• If the shrink wrap is removed, a return is questionable. Read more »