The holiday season brings joy and excitement to shoppers, but it can also bring stress and uncertainty. One of the major concerns for holiday shoppers revolves around refund policies. Let’s take a look at holiday refunds, complete with statistics from last year.
Holiday Refund Statistics
According to data from the National Retail Federation (NRF), retailers typically experience an average return rate of 17.9% for merchandise during the holiday season, totaling nearly $171 billion. This rate remained stable compared to 2021.
Holiday Return Policies
Return policies can vary significantly among retailers, often causing confusion among consumers. Understanding these policies is essential to avoid any unexpected surprises when attempting to return a product. Oftentimes, retailers change their policies around the holiday season, for the better or for worse. As you remember from our Halloween post, some retailers stop accepting returns on holiday merchandise the day after the holiday.
It’s important to note that all retailer refund policies assume that purchases are made through credit card transactions or electronic online purchases. For those who prefer cash transactions, keeping receipts is crucial.
In summary, holiday refunds play a pivotal role in the holiday shopping experience. Familiarizing yourself with refund policies and associated statistics can empower you to make well-informed decisions when participating in holiday shopping.
And, instant refunds aren’t everywhere yet! Allocate plenty of time (AKA way too much time) to get your money back.
Yours truly,
The Instant Refund Expert™ Follow me on X and IG @RefundsBlog
The Refunds Blog 