Retailers prepare to fend off fraud amid holiday returns
As stores handle the rush of gift returns, they're also preparing to fend off retail fraud. Retailers estimate holiday return fraud could total $1.2 billion in 2015. The National Retail Federation says that's up an estimated 3-percent from last year. Some stores are tightening their return policies by limiting the number of items that can be returned without receipts and requiring photo ID. Big box stores are trying to close potential loopholes. Walmart plans to only allow customers...
NILES, Ohio - As stores handle the rush of gift returns, they're also preparing to fend off retail fraud.
Retailers estimate holiday return fraud could total $1.2 billion in 2015. The National Retail Federation says that's up an estimated 3-percent from last year.
Some stores are tightening return policies by limiting the number of items that can be returned without receipts and requiring photo ID.
Big box stores are among those trying to close potential loopholes. Walmart plans to only allow customers to make three returns without receipts within a 45-day period. Sears is also limiting returns to be made 30 days within the date of purchase.
Most of the returns have been for size exchanges at Everything Buckeyes in the Eastwood Mall.
The sporting specialty store is like many other retailers preparing to unload winter gear and apparel that didn't sell amid a warmer than normal Christmas season.
"Sweatshirts and the jackets, those definitely went out ... but maybe a little bit less with the winter apparel for the hats," Ashley Hatcher said, with Everything Buckeyes.
About 15-percent of holiday gifts are expected to be returned. Experts recommend shoppers do their homework and make sure they know the store's return policy before getting in line.
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