(WJAR) — If you’re buying gifts this Cyber Monday, whether it’s for yourself or others, chances are something will need to be returned.
However, a new study from CardRates.com finds many of us are simply throwing in the towel – and giving up a lot of money by doing so!
“When it comes to the actual process of making returns, it’s not easy, and we found that through American consumers,” said Jen LeMair, a spokesperson for CardRates.com. “And it turns out many would rather eat the cost of their order than deal with the process of returning it.”
She continued, “Three in four consumers said they have actually kept an item because they said the return process was too complicated and or expensive.”
LeMair said some of this has to do with the store’s return policies – shorter return windows or fees for returning items can be a real turn off.
But at the end of the day, she says money is still money.
Do you really want to leave it on the table?
“A good way is to think of it – when you’re deciding to make the return or not, if it’s really worth the hassle and you’re kind of contemplating that – a really great way to get yourself to maybe snap out of that is, would you throw away a $20 bill right now?” asked LeMair. “Would you light a $20 bill on fire? Probably not.”
Another tip is to mark your calendar with the last day to make the return so you don’t forget.
If you know you’re the type who’s not going to go out of your way to make a return, be intentional about the purchases you make.
Don’t buy gifts without a specific recipient in mind.
Source: Throwing away money? 3 in 4 shoppers keep unwanted items to avoid making returns
