Posted 12/26/2023, 1:16:04 PM
Holiday Shoppers Brace for $173B in Returns Due to Record Sales and Varying Policies
- $173 billion worth of holiday gifts are expected to be returned this year due to record holiday sales
- Keep your receipt and check retailers' return policies - some charge fees or have early deadlines
- Amazon and Apple allow holiday purchases to be returned as late as Jan 15 or Jan 31, 2024
- 70% of restaurant gift cards are used within 6 months, but $23 billion in cards go unused, expiring in 5+ years
- Unredeemed gift card money may go to state unclaimed property programs or become retailer profits, depending on state laws