WALMART has officially updated its return policy, giving shoppers more time to return Christmas gifts.
As the end of the festive season approaches, the retail giant is making changes to its shopping rules.
With the holidays typically bringing a surge in returns, Walmart, like many other retailers, is preparing for a higher-than-usual return rate.
Estimates suggest returns could be up to 20 per cent higher than normal at this time of year.
This creates operational pressure for companies, prompting them to adjust their policies.
Some are shortening return windows, introducing fees for online returns, or implementing restocking fees for certain items.
Walmart, as the largest retailer in the world, is no exception.
For items purchased between October 1 and December 31, Walmart is offering an extended return window through January 31.
This applies to both in-store and online purchases, giving customers extra time to return items after the holiday season.
However, some exceptions do apply.
Products bought through Walmart’s Marketplace may have different return policies depending on the seller, with some items possibly being ineligible for refund or return.
Certain products are also subject to shorter return periods.
Outside of the holiday season, Walmart’s standard return policy is quite generous.
Customers typically have 90 days to return most items purchased in-store or online, with a few exceptions.
Returns are a significant cost for retailers, with the National Retail Federation estimating $890 billion worth of goods were returned in 2022 – about 17 per cent of all merchandise sales.
Despite the challenges, returns present an opportunity for companies to strengthen customer loyalty by providing a positive shopping experience.
Katherine Cullen, Vice President of Industry and Consumer Insights at the NRF, explains: “Returns play an important role within the retail ecosystem and offer an additional touchpoint for retailers to provide a positive interaction with their customers.”
Many retailers, including Walmart, are focusing on making the return process smoother to ensure customer satisfaction.
The impact of return policies extends beyond just logistics – 76 per cent of consumers say free returns are a deciding factor when choosing where to shop.
Walmart is not alone in changing its return guidelines for the holidays.
Other major retailers are adjusting their policies as well, including Home Depot, Target, Marshalls, Best Buyand T.J. Maxx.
Kohl’s is charging a 15% restocking fee, while Macy’s is introducing a $9.99 fee for certain returns.
JCPenney is applying an $85 pick-up fee, and Costco has clarified which items are non-refundable for the season.
As the holiday shopping rush intensifies, it’s important for shoppers to stay informed about updated return policies.
Understanding the details of return windows and potential fees can help ensure a smoother and hassle-free shopping experience.
By checking the fine print and planning ahead, you can avoid surprises and enjoy your holiday shopping with confidence.
