(WJLA) - The day after Christmas is considered one of the biggest days in retail. Americans head to the stores to return and exchange unwanted gifts while others use gift cards they received for Christmas.
“We have seen a move towards friendlier return policies over the holidays and I think that’s something that will help us all our this week,” says Brad Wilson of bradsdeals.com.
According to a recent study, Costco, Nordstrom and Walmart have the most lenient return policies; Sears and Best Buy have the most restrictive.
As millions of shoppers hit the stores, retailers are doing their best to entice them with huge discounts.
Amazon is offering so-called "year-end deals" of up to 70 percent off. Old Navy's after-holiday sale saves you 60 percent online and up to 75 percent in-store.
“I’m just going to purchase,” says Darryl Felton. “Couldn’t get [here] yesterday or the day before.”
But Thursday is not all about the returns and exchanges. Sales are expected to be good because the pre-Christmas shopping season was so disappointing. Last week's in-store retail sales were down 3.1 percent and foot traffic was down 21 percent since last year. UPS says it expects to ship 15-percent more returns this year.
“My sense is they have too much inventory. We’re seeing a lot of inventory driven discounts right now,” Wilson says.