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Step 1
Check inside the box for a receipt. Many retailers will offer a gift receipt which, although it will not list the price visibly, will nevertheless have it bar coded so you can exchange it for the full amount that was paid for the item (as opposed to its marked-down, post-holiday sale price).
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Step 2
Do not open any packaging if it is obvious from the outside that the item isn't one you'd like to keep. Although it may be necessary with some items to take them out and try them on in order to ascertain the fit or style or whether the color really works with your skin tone, the more intact a package is, the better your chances are of returning it for a full refund. Some stores will only exchange opened merchandise (meaning you get store credit in the amount of the purchase price), others will not accept any opened boxes This is particularly true for items like video games and other software, so remember that an opened box means no return.
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Step 3
Make sure you exchange the item as quickly as possible. Check the date on the receipt (if there is one). Many stores will only accept returns or exchanges for up to 30 days and your gift giver may have purchased the item some time in advance of giving it to you.
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Step 4
Talk to the manager if a store clerk won't accept the item you'd like to return. If you make a good case for yourself (item was purchased 2 months before Christmas, but you just received it 2 days ago as it's December 27; item was marked as large but fit more like a medium when you took it out of the now-opened packaging) and you yourself have not damaged the item in any way, many managers will be willing to bend the rules and allow you at least a partial refund or store credit even if your situation somehow goes against store policy.
