Eight in 10 Brits would return or sell their unwanted gifts, according to research
Brits are looking to recoup the cost of unwanted gifts.
Almost half (47 per cent) have regifted an item, saving them money from buying more gifts down the line. And 31 per cent claim they’ve exchanged an unwanted item, while 19 per cent simply returned it altogether.
However, 27 per cent admitted they’ve tried to make a bit of cash from unwanted gifts in the past by selling them online, and, in doing so, made £30 on average.
The research of 2,000 adults was commissioned by Confused.com, whose personal finance expert Nicola Morgan explained consumer rights when it comes to returning or exchanging items.
She said: “The Consumer Rights Act 2015(1) allows us to freely return or exchange items in return for our money back, or store credit, in some cases. But in certain situations, this can be down to the discretion of the retailer.
“There’s no legal obligation for stores to accept returns or exchanges for unwanted items, and doing this usually comes with a few conditions. For example, there is usually a time limit for returns and exchanges – often 28 to 30 days from purchase.
“The good news is that over the Christmas period, some stores extend their returns period to allow extra time. You will also need to have proof of purchase.
“If you’ve received something you’d like to exchange, it’s best to ask the person who gave it if they still have the receipt. Without this, you may still be able to exchange the item at the store's discretion, but you may not get the full value for it if it’s on sale.
“If you’re looking to get cash for the item, this could be a bit trickier. Usually, money can only be returned to the original payment method – in which case an honest conversation with the gifter might be needed.
“A lot of gifts are exchanged at Christmastime, and it’s not unusual for some to be ‘not quite right’. Consider speaking to friends and family and requesting gift receipts for certain items; this will give you more freedom to exchange or return items easily in the future.”
The research also revealed the top reasons for getting rid of gifts, including simply not liking it (47 per cent), the item being the wrong fit or size (45 per cent), or owning it already (39 per cent).
When it comes to the most returned, re-gifted or sold gifts, clothes top the list in almost half of cases (49 per cent). Accessories follow (25 per cent), along with beauty or personal care items (20 per cent), shoes (19 per cent), and home goods (18 per cent).
Unsurprisingly, these items are usually a matter of personal taste, which may not quite hit the mark when gifted. By returning or exchanging items, Brits are left with money to put to better use.
In 40 per cent of cases, those who have returned or exchanged gifts received a gift card, while 34 per cent opted for store credit. Thirty-five per cent got cash for their items, while 21 per cent had money back on their card, according to the OnePoll.com data.