GOBankingRates' Study Reveals the 12 Best Return Policies for 2014 Holiday Shopping

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Dec 24, 2014, 07:15 ET

LOS ANGELES, Dec. 24, 2014 /PRNewswire/ -- Considering the average American returned nearly four gifts last year, worth close to $270 billion in merchandise according to the National Retail Federation, leading personal finance website GOBankingRates investigated return policies at the biggest U.S. retailers and identified the 12 best return policies at popular stores.

See what stores offer the best return policies here

GOBankingRates unveils the 12 stores with the best return policies.

"Because many retailers carry the same brands and offer comparable pricing, a good return policy really should be the X factor that helps you decide where to do your holiday shopping," said Casey Bond, GOBankingRates' managing editor. "Your gifts – however thoughtful they are – are more likely to be returned this season than any other time of year; give your friends and family the extra gift of an easy return process if they're not happy with their presents."

Preview of the best return policies¹:

Nordstrom return policy: This high-end department store comes closest to having zero restrictions on its return policy, and no time limit to bring in a gift for refund.
Macy's return policy: This store doesn't enforce a set time period for returns and allows online purchases to be returned in store as well.
REI return policy: Recipients have up to a year to return unwanted gifts and benefit from an added 100 percent guarantee; with a proof of purchase, customers can return unsatisfactory items even after the tags have been removed and they've been used.
Costco return policy: Most items have no return time limit and customers can obtain a full cash or check refund with just the membership number used to buy the gift.

To see the full list of the best return policies and their requirements, visit: http://bit.ly/1vajy0N

¹Some exceptions apply

Methodology

This study investigated return policies for the top U.S. retailers based on 2014 U.S. retail sales and brand loyalty rankings. Factors used in determining the best and worst rankings were whether a receipt or invoice is needed at return, whether the retailer permits in-store return processing for online purchases, available time limit for returning goods, the refund type offered at return, and any additional features or services provided that improve customer experience when returning items. Supermarkets and restaurants were removed from consideration.

About GOBankingRates

GOBankingRates.com is a leading portal for personal finance news and features, offering visitors the latest information on everything from interest rates to strategies on saving money, managing a budget and getting out of debt. Its editors are regularly featured on top-tier media outlets, including U.S. News, Business Insider, Daily Finance, Huffington Post, and more.

Media Contacts:

Roxy Barghahn: [email protected]
Connie Lundegard: [email protected]

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SOURCE GOBankingRates