Some exchanges may require you to bring a form of photo ID, even just for exchanges. If there’s a physical store, you can go for the same item in different colors or sizes, or as we mentioned, something of equal or lesser value. In the end, you could even grab the store credit, and transfer it over to the gentleman on your list who didn’t like the gift. That way, he’ll be able to go pick something out or use it with his own money for a larger purchase.
When it comes to exchanging, you might hit restocking fees or shipping fees if you’re going to send it back to an online store or manufacturer. Restocking fees generally apply to electronics or other easily damaged items that need to be inspected and tested before they can be put back on the shelf. Even if you gently opened the box, they can still require new packaging, and again, it’s all depending on store policy. You can pay anywhere from five to twenty percent for a restocking fee, which will require you to fork up some more cash if you’re trying to get a gift of the same caliber.
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So you’ve gone to all the trouble to find what you thought was the perfect gift, only to read the expression on their face, and thank the stars above that you kept that gift receipt or proof of purchase. This is where you’ll have to pay serious attention to shopping online. Buying from stores that have brick and mortar establishments nearby will allow you to go with them, and physically exchange the gift for one of two things: store credit, or an item of equal or lesser value.
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