Retailers Considering Paying You NOT To Bring Back Merchandise
Here is another reason to save those receipts. Some of the nation's largest retailers are reportedly considering a new policy where they would pay you to NOT bring back the merchandise to their store.
KCCI reports that some of the nation's biggest retailers including Target, Walmart, Gap, American Eagle, and more are looking at a plan that would let you keep your unwanted merchandise and get your money back too. During their latest earnings call many of these businesses stated that they simply have too much inventory sitting around and it's costing them a fortune to store it all. So now instead of piling up all the returns that come in, you might get to keep what you bought.
When stores take back merchandise they can refurbish them and sell them for less or move them to liquidators. They can also move them to foreign liquidators in Canada, Mexico, and Europe. KCCI points out that the rising costs of fuel and the ongoing troubles at ports across the country make selling products overseas a challenge. Officials with some of these large companies say they are considering a 'keep it' option for returns this year.
KCCI reports that while the 'keep it' policy has advantages for retailers in the current market, it does have one drawback. Fraud. Retailers will need to watch carefully so that people don't abuse a system where you can get your money back and keep the item you initially paid for. The bottom line? Save those receipts!