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It's time for the perennial question: Will they like what you got them? And if not, can they return it?
The answer is probably yes, but to make sure you're on solid ground, it pays to know what the company's return policy is before you buy, advises Andrea Ayers, Business Unit President for Convergys Corporation. As always, being an educated consumer could save you a lot of stress -- and money.
Here are six things you should know to ensure many happy returns:
1. Keep the receipt
You know the drill: Everything must be returned unused and in the original package, and you should have a receipt. Don't worry -- including a gift receipt isn't tacky. It's "the most wonderful thing in the world," says Peter Post, co-author of The Etiquette Advantage in Business and Essential Manners for Couples. It says to a person: I thought you would like this, but if it's not right, feel comfortable taking it back, and I'm making it easy for you.
No receipt? You may only get a merchandise credit -- and then only for the lowest price at which the item was sold in the past 30 days. Some retailers limit the number of times you can return something without a receipt. Other retailers only let you return items without a receipt up to a certain price. Several may not give you a refund at all without a receipt.
2. Don't delay
You usually have from 30 to 90 days to return unwanted gifts. But you should act quickly, especially where apparel is concerned. "Inventory is tight, so there might not be a lot left over, says Ellen Davis, spokeswoman for the National Retail Federation. When it comes to electronics, waiting isn't an option; you generally have just 14 days. For example, digital cameras and camcorders purchased at Best Buy or Circuit City as Christmas gifts must be returned by January 8. PCs from Wal-Mart must be returned within 15 days.
The good news is that some retailers offer decent return deadlines, or extended deadlines during the holiday season, according to Consumer World, an online consumer resource guide. Here are some of this season's most generous policies (with a receipt, of course):
Amazon.com: Janauary 31 for purchases November 1 or later
Best Buy: January 31 for purchases November 1 or later; January 8 for certain electronics
Costco: No deadline on general merchandise; 90 days for electronics
Eddie Bauer: No deadline
Kohl's: No deadline
Macy's: 180 days from purchase
Target: 90 days; 45 days for unopened electronics, video products and others
Wal-Mart: 90 days for general merchandise; 15 to 45 days for electronics and PC accessories
3. Don't want it? Don't open it
Not the flat-screen TV you wanted? Wrong computer or portable DVD player? Don't open it. A growing number of retailers will charge you a percentage of the purchase price (generally 15%) for restocking.
Restocking fees are most common for electronics. But more retailers are charging for returns on other items, so make sure you know the policy. Macy's for example, charges a 25% restocking fee on furniture. Sears levies a fee for certain lawn, garden and household items. And Target takes 15% for framed art.
Although retailers say they're merely trying to recoup the cost of repackaging items, the fee is meant to discourage one-time use of equipment. Some consumer advocates think it's unfair. "The fee is not only poorly disclosed, but it's also too high," says Gail Hillebrand, senior attorney at Consumers Union. Know the store's policy in advance.
4. Habitual returners be aware: You may be blacklisted
Return fraud, which includes bringing back used merchandise for a full refund, will cost the retail industry $10.8 billion this year, according to the National Retail Federation, with one-third of that loss suffered in the holiday season. That's why an increasing number of chains are monitoring returns. Each time you bring back an item, your driver's license may be swiped, especially if you return without a receipt. If you exceed a store's set limit for returns, you're out of luck. Barnes & Noble, Express, Home Depot, KB Toys, Sports Authority and Staples are among retailers that keep track.
"What concerns me is that this system punishes both the honest consumer -- for example, the busy mother who buys clothing for her kids to try on at home -- as well as the crooks," says Edgar Dworsky, founder of Consumer World.
5. Returning online purchases could get confusing
The good news is that online retailers are making it easier for customers to return items, says Convergys's Ayers. Many of the big chain stores, including Costco, Gap and Wal-Mart will let you return online purchases to their brick-and-mortar stores. Ayers says more online retailers are also including prepaid shipping labels for returns with your orders. BedBathandBeyond.com, Macys.com and Zappos.com are among sites with this service.
But there are caveats. For example, items marked "online only" may need to be mailed back. Some sites' free return shipping deals may only apply for exchanges, not refunds. And retailers that have teamed up with Amazon.com may or may not allow items to be returned to their physical stores. Keep your packing slip handy to avoid additional hassles.
6. You could swap that gift card
Last year, the number of consumers returning gifts dropped, according to the National Retail Federation, in part because more people are giving gift cards.
Although you cannot return gift cards to the store for cash, you're not entirely out of luck if you get one that doesn't suit your taste. At Swapagift.com, you can sell or trade your card for someone else's. Actively-traded cards on the site include popular retailers and restaurants such as Barnes & Noble, iTunes, J.Crew, Lowe's, Pottery Barn and Tiffany. Swapping a card will cost you $3.99, regardless of the face value. Don't want to mess with selling? Swapagift.com will pay you 60% to 70% of your card's value in cash if it's from one of the site's "preferred merchants."
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