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SALT LAKE CITY -- For millions of Americans, the day after Christmas means a chance to get what they really wanted this year. Thousands of retailers opened early Monday to help customers return gifts that missed the mark this Christmas.
USA Today reports a predicted 60 percent jump in day-after-Christmas shopping, according to ShopperTrak, and the National Retail Federation estimates sales will be up nearly 4 percent from 2010.
The consumer research group also says Dec. 26 is usually the second-highest revenue day for retailers, with as much as $8 billion being spent on that day. Stores are expected to ring up $469.1 billion during this holiday season, which began Nov. 1st and runs through Dec. 31st.
Here are a couple of tips to help in the process:
- Take a receipt, if possible
Without a gift receipt or a regular receipt, customers can expect to receive either a merchandise credit or to be reimbursed the lowest amount the item sold for, not necessarily what the purchaser paid for it. - Keep stickers, labels, and tags intact.
If the tags are gone, some stores will charge a restocking fee. In the case of some electronics, a repackaging fee is possible.
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Todd Marks, Consumer Reports senior editor said, "You want to be sure to not open the packaging if you're not sure you want it. Because, you can leave all the tags and labels on the item, but if you destroy the packaging or rip it apart, again, you'll have a much more difficult time returning it."
Marks also said some big stores, like Best Buy, are asking for identification with returns, to prevent fraud.
Bargain hunters should see some significant discounts today as retailers try to make room for new merchandise. America's Research Group predicts price cuts on winter clothing. The retail strategist says mild winter weather means stores will be cutting prices on coats and heavy sweaters.
It's also a good day to stock up on Christmas items for next year -- everything from trees to greeting cards to decorations and lights may be marked down 50 percent to 90 percent at various retailers.
Last year, the day after Christmas was a Sunday, which is typically a slow retail day in Utah. Some experts predict chaos since the day after Christmas falls on a Monday and for a majority of people, it's a holiday from work.
"Definitely it is one of our biggest days," said Salt Lake City Target Manager Aaron Quintana. "Everybody comes back with their gift cards and everything -- come in to see the holiday deals."
If the crowds are any indication for retailers, the year should end well, which is great news if you're in retail.
The National Retail Federation estimates sales nationwide to be up close to four percent over last year, which is higher than analysts initially predicted.
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Written by Shara Park with contributions from Mike Anderson.
