Returning a gift during the holidays? What to know before you do
Global News
Savvy consumers should keep in mind return policies for their purchases, retail analysts say. In some cases, a return could even cost you.
As the holiday season continues, there are some tips to keep in mind whether you’re bargain-hunting this Boxing Day or planning to return something you received.
According to a Retail Council of Canada survey, Canadians are expected to spend $898 on average on holiday gifts this year, a rise from $782 in 2022. But while shoppers may spend more, about 88 per cent said they’re going to be more “vigilant” in seeking value.
In November polling conducted exclusively for Global News, nearly 80 per cent of Canadians said inflation and rising interest rates have had a “significant” impact on their holiday budgets.
Rob Domagala, a member of the founding team of ReturnBear, an e-commerce returns platform, told Global News that if people are doing more shopping for Boxing Day, they should remember they are in control of their wallets.
“So to avoid a little bit of that buyer’s remorse when you’re the one purchasing for yourself, get to know the brands, get to know the product, make sure you really want it,” he said.
After you’ve bought an item, various reasons such as a size issue or even financial aspects could prompt a need to get that money back.
Retail advisor David Ian Gray of Dig360 notes that when it comes to why shoppers return items, it’s not always because of a bad fit or dislike of the product. Amid a tougher economic climate, finances can also come into play.
“We incrementally see a bit of a bump in terms of people who may have buyer’s remorse,” he told Global News in an interview. “They’re looking at their credit card and the return might be a fine product but they’re just thinking, ‘Maybe I should send it back.'”
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