• Know the retailer's return policy before you buy. Most retailers have return policies prominently displayed, especially at this time of year. Gift-givers should read and remember them.

• Keep all receipts. Receipts are still the key to hassle-free returns. Many retailers will allow consumers to exchange merchandise without a receipt. However, without a receipt, a retailer may only provide merchandise credit for the lowest markdown-price at which the item was sold in the past 30 days.

• Provide all original packaging and all parts, including all tags, when giving a gift. Some retailers won't accept returns unless the item is in its original package.

• Ask for a gift receipt to make gift returns easier. Ask the retailer if they issue gift receipts. These receipts contain all the necessary information to prove the items were purchased, minus the price.

• Make your online returns easy. Returns are a part of shopping, no matter where you choose to shop. Know the process: Who pays for shipping the return, you or the merchant? Some merchants will pick up the delivery charges for exchanges, but not for returns.

• Don't delay. Consumers should plan to make returns as soon as possible after the holidays to take advantage of extended hours and extra help and to get the best selection of merchandise for an alternative gift.

• Remember that the week after Christmas is one of the busiest weeks of the retail year. The frustration level is high and tolerance is low, so be patient when returning merchandise.

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Source: The National Retail Federation