8. D'innocenzio, Take That Back!, 2011

8. D'innocenzio, Take That Back!, 2011 - Take that back!...

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Take that back! Returns are big for the holidays By ANNE D'INNOCENZIO AP Retail Writer Posted: 12/14/2011 NEW YORK—Ah, the warm feelings of the holidays: Comfort and joy. Good cheer. And buyer's remorse. People who rushed to snag discounts on TVs, toys and other gifts are quickly returning them for much-needed cash. The shopping season started out strong for stores, but it looks like the spending binge has given way to a holiday hangover. Return rates spiked when the Great Recession struck and have stayed high. For every dollar stores take in this holiday season, they'll have to give back 9.9 cents in returns, up from 9.8 last year, according to the National Retail Federation's survey of 110 retailers. In better economic times, it's about 7 cents. This time of year, fractions of a penny add up. Stores are expected to ring up $453 billion during the holiday season. Merchants make up to 40 percent of their annual sales in the last two months of the year. Returns are typically associated more with January than December. After all, that hot pink sweater with yellow stars on the sleeves may not be exactly what your sister had in mind. But these days, more is going back before it ever gets to Santa's sack. "When the bills come in and the money isn't there, you have to return," says Jennifer Kersten, 33,
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This note was uploaded on 02/19/2012 for the course MARKETING 3336 taught by Professor Wyatt during the Spring '10 term at University of Houston.

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8. D'innocenzio, Take That Back!, 2011 - Take that back!...

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