The thing worth knowing before you buy a cardigan is that the button spacing matters more than the fabric. Too wide and it gapes over the chest, too tight and it pulls in a straight line down the middle like a poorly done up coat. Check that before anything else.
A good one tells you what it is the second you pick it up off the rail. The knit has a bit of weight and bounce back to it rather than hanging limp, the ribbing at the cuffs and hem holds its shape instead of going slack by week three, and the buttons feel properly attached, not glued on with a wish. Seams at the shoulder and underarm should sit flat, not twist when you move your arm forward, which is the test I do standing in the changing room looking like I'm reaching for something on a high shelf. Cheap ones go thin and see through at the elbows within a month because the yarn's spun loosely to save money, and you'll notice it most in good light, which is exactly when you don't want it noticed. A proper one keeps its density even when it's worn soft.
On sizing, go by the shoulder seam and the body length rather than the label, because cardigans vary wildly between a cropped little number that sits above the waist and something boxier that drops to the hip. If you're between sizes, I'd go up rather than down, since a cardigan that's a touch roomy still works as a layer, but one that's tight across the back will strain every button and pull horizontal lines across you when you sit down, which is the least flattering thing a knit can do. Sleeve length is the other one to watch, nothing worse than reaching for a bus rail and finding three inches of wrist on show that weren't meant to be. Watch the shoulder seam too, if it sits down your arm rather than at the joint, the whole thing reads sloppy no matter how nice the knit is.
Where it struggles is anything that needs real structure, under a blazer for something formal, or if you want warmth without bulk on a proper cold day, because knitwear this open sided lets draughts in no matter how chunky the yarn. It's an in between weather piece, brilliant for spring mornings and office air conditioning, less brilliant stood at a bus stop in January expecting it to do a coat's job.
Does it hang right when it's just open and unbuttoned, or does it only look finished done all the way up?