Holiday returns to hit record $46 billion

Image via WikipediaThe holidays aren't even over yet and shoppers are racking up returns already. Whether it's the wrong size, wrong style or just plain weird, shoppers will return $46.28 billion in holiday merchandise, a record high, according to the National Retail Federation.

This year, shoppers are bringing items back even before those presents are wrapped or bows are tied. That's partly a result of record-breaking sales on Black Friday and Cyber Monday, when buyers flocked to stores like Target, Wal-Mart and Best Buy.

"Higher sales will bring higher return amounts," said Kathy Grannis, a spokeswoman for the NRF. Some gift buyers are bringing purchases back now to take advantage of additional markdowns retailers are making in the days before Christmas, explained Candace Corlett of WSL Strategic Retail, a New York-based consulting firm. More...