Consumers Quick to Return or Exchange Their Holiday Gifts

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According to a recent consumer perception study about Holiday gifts conducted by leading market research firm ClickIQ, 14% of consumers ended up returning or exchanging one or more of their gifts by December 28, 2011.

Of the 86% of people who reported that they received at least one Holiday gift this season, 14% had returned or exchanged one or more of their gifts by the time this survey closed, three days after Christmas.

Consumers appear to be returning gifts from the 2011 Holiday gift giving season quickly according to a recent consumer perception study conducted by market research firm ClickIQ. Consumers were asked about where they shopped, if return policies influenced their decision, and how many gifts they returned or exchanged, both the gifts they purchased for someone else and the gifts they received. Of the 86% of people who reported that they received at least one Holiday gift this season, 14% had returned or exchanged one or more of their gifts by the time this survey closed, three days after Christmas.

Half of all the consumers surveyed indicated they had purchased at least some of their Holiday gifts on-line. Of those, one in five had returned or exchanged at least one item purchased on-line.

When respondents were asked where they shopped for gifts (excluding gift cards) this Holiday season, Walmart (WMT) was the leader with 47%, followed by Amazon (AMZN) at 42%, Target (TGT) at 37%, Best Buy (BBY) at 26%, and Macy’s (M) at 19%.

According to the survey, when shoppers were asked whether or not a store’s return policy was influential in deciding where to purchase gifts for the Holidays, only 26% said it is "extremely" or "very" influential. 51% indicated that a store's return policy was "not very" or "not at all" influential.

When ranked on a 5-point scale, with 5 being very good, there is not much of a difference between consumers’ perception of return policies for the places they shopped most with Amazon ranking a 4.6, Walmart a 4.5, Target a 4.3, Macy’s a 4.3 and Best Buy a 4.2.

Methodology
Data was collected in an online survey of 402 respondents from ClickIQ’s US consumer panel from December 27, 2011 through December 28, 2011. Target respondents are consumers who celebrate and participate in the Holiday gift-giving season. The survey results have margin of error of +/-5% at a 95% confidence level.

About ClickIQ
ClickIQ, Inc., based in Minneapolis, Minnesota, is an award-winning market research firm that employs fully integrated online management tools, a proprietary consumer panel, and skilled market research analysts to deliver quantitative consumer and shopper insights to some of the best known and most respected companies across the U.S.

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Robert Boese