ECONOMICS

Detailed explanation-1: -When a customer brings an item to the store and asks for an exchange or refund, the sales staff will need to verify this request. They’ll have to confirm that this product has been purchased from your store. The most common proof is a receipt.

Detailed explanation-2: -However, there’s no getting away from the fact that proof of purchase is an important part of the process, and without it you may not be able to get a refund or exchange. Bear in mind that if the present was bought using a debit or credit card then any refund will go straight onto that card, rather than to you.

Detailed explanation-3: -You need a proof of purchase but this does not have to be a receipt. It could be a bank statement, credit card or loyalty card statement, for example. It just needs to show that you bought the item at that particular retailer.

Detailed explanation-4: -If you don’t have the receipt, some stores will accept another form of “proof of purchase, ” such as your bank or credit card statement that documents the purchase. Also, come equipped with the packaging the item came in (if you have it) as well as the card you used to pay.

Detailed explanation-5: -A refund receipt reflects a refund that you gave to a customer. In many cases, refund receipts will be used to document credit card refunds, but they can also account for other types of refunds to customers.