Denver, CO – December 28, 2012 – Problems with gift returns are common at the Better Business Bureau during this time of year and while some stores loosen their return policies during the holiday season, the BBB warns that some stores could be tightening policies due to an increase in return fraud. In a survey conducted by the National Retail Federation, retailers estimate that 4.6 percent of holiday returns are fraudulent, costing the retail industry an estimated $2.9 billion.
Return fraud comes in many forms, but the main methods of return fraud involve purchasing merchandise for short-term use and then returning the item, returning stolen merchandise, or using reused, stolen or falsified receipts to return merchandise for a profit.
To put you and your gift recipients in the best position for a happy return or exchange, BBB offers this advice:
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About the BBB
The BBB is an unbiased nonprofit organization that sets and upholds high standards for fair and honest business behavior. Businesses that earn BBB Accreditation contractually agree and adhere to the organization’s high standards of ethical business behavior. The BBB provides objective advice, BBB Business Reviews, BBB Charity Reports and educational information on topics affecting marketplace trust. To further promote trust, your BBB also offers dispute resolution services for consumers and businesses. The first BBB was founded in 1912. Today, there are 114 local, independent BBBs across the U. S. and Canada. Please visit www.denver.bbb.org for more information.