Some stores and shops have very different return policies during the holidays than they do at other times of year. This can be good or bad. Christmas shopping too early might leave you (or the recipient of your gift) unable to make a proper return if necessary. Have you come across any really weird policies? One small store years ago, would only allow the original purchaser to make the return for full credit in cash. Otherwise, the person just got a gift certificate to the store for a lesser amount. That would be a huge pain to have to collect and return gifts for the people you bought them for if necessary. I don't like stuff like that. If you take the money, give the money back if the product isn't as it is supposed to be.
Stores aren't obliged to give refunds and I guess it depends on state laws. Many will do for customer goodwill, but most offer a gift receipt with no price, but allows someone to exchange a gift and the receipt is proof of purchase. I've had a few of these and they encourage people to buy gifts without having to worry of something doesn't fit or is the wrong color. A consumer doesn't have an automatic right to bring back items because they don't like it, but store do allow extended periods up to a month for exchanges. I think that's fair and also a good idea. Any longer and people take advantage and you have to think about it from a business point of view, they don't want lots of returned old stock they have to reduce to sell.
I do pay close attention to return policies especially now that I've gone through a couple of holidays wherein I've had to return my bought gifts for one reason or another. I am especially particular with return policies when it comes to online purchases because then I wouldn't even get to inspect the item I'll be getting before it arrives so I'm always assuming I'll be returning it before I get it at my doorstep and have the opportunity to inspect it.
Yes, although unless it is for my immediate family -- I try to avoid purchasing things that might need to be returned or exchanged like clothing and shoes. I tend to stick to things that don't require sizes. The only other things you really have to watch out for is electronic items. It is always good to know about the return products on those as well as whether there is a warranty attached to them.
Most people, in my opinion, rarely pay attention to the return policy. Even myself, whenever I buy something, I thought that for as long as you are keeping the receipt and that the items is still on the same packaging, you can return and refund your money within the specified days. Personal items like underwear or CDs or any electronics or consumable items cannot be returned UNLESS you can prove there's something wrong with the item you purchase. Now about the question, well, unfortunately, I among those people who do not pay close attention to return/refund policies of stores... but it's ok because I rarely have returns anyway..
A bad experience last year taught me to pay really close attention to return policies. I bought a pair of boots one late evening and didn't realize that my feet were a little swollen from the heat. The next day I figured that the boots were a size too big and I went back to the store, never anticipating any trouble since I had only tried on the boots in the store and then at home for a few minutes. Not even 24 hours had passed since I had bought them, but the store refused to take them back. It was a ridiculous situation. The only excuse they had was their "store policy". So, needless to say that I will never buy anything at that store again.