Returning gifts? Watch for new guidelines

Posted at 7:15 PM, Dec 26, 2016
and last updated 2016-12-26 23:55:44-05

It's the day after Christmas but the malls aren't any less busy.

Shoppers on Monday were hitting the Palm Beach Outlets for discounts, using their gift cards or simply returning gifts they didn't like.

About 10 percent of all holiday merchandise winds up coming back to the stores nationwide, according to the National Retail Federation.

It's costing retailers around $60 billion.

This year there are a few stores that have tightened their return policies.

Macy's now requires all returns in one year.

Kohl's has a new deadline for premium electronics of Jan 31.

Costco reduced its return period for major appliances to 90 days.