Video: Gift returns surge ahead of holidays

>>> season got off to a record-breaking start and while malls have remained packed it looks like not everyone is there to shop. nbc's craig melvin is a few blocks away in herald square in new york. good morning.

>> reporter: ann, good morning to you. including today there are ten shopping days left until christmas but many retailers say they're only starting to see a surge in returns because it turns out a lot of shoppers got those bags home and realized they needed the money more than the savings. remember those deal finders lined up for deep black friday discounts?

>> ah!

>> the target two-doy sale starts next friday morning at midnight.

>> reporter: how about the stores who interrupted thanksgiving to open earlier than ever? all the hoopla seemed to be working.

>> i overspent. i just overspent. i spent and spent.

>> reporter: shoppers have spent close to $25 billion so far this holiday season . that's up 15% over last year. but also up? returns.

>> we bought an item for each other for the holidays and had to return it.

>> reporter: hit especially hard are the companies that make and sell electronics. everything from tablets to televisions. this year they'll lose $17 billion on returns alone. up 21% since 2007 .

>> every time a retailer has to accept a return it ultimately impacts their profitability.

>> reporter: just 5% of consumers returning electronics said something was wrong with the item, but 27% said it was buyer's remorse.

>> buyer's remorse. right now this is a perfect environment for it. you go to the store and the deals lure you in but ultimately you realize you don't want to patient stuff off for the next six to 12 months.

>> reporter: also fueling returns some retailers are making it easier. last year it cost you six bucks to return something you bought on nordstrom.com. that covered shipping. this year, returns are free.

>> a good return policy is crucial to holiday shopping, both for the gifts i receive and for the gifts i give.

>> reporter: thanks to technology, consumers can also compare prices quicker than ever. and they're not afraid to take something back to save a few bucks.

>> things are kind of tight and, you know, money doesn't go as far as it should. basically you want to make sure you're getting the best deal you can for anything you buy.

>> reporter: now, ann, there is an up side here for retailers. the average shopper hasn't done their shopping and 37 million people say they haven't even started looking for a gift.

Source: http://video.today.msnbc.msn.com/today/45681015/

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