Last-Minute Shoppers Spread Holiday Cheer
December 15 2014 - 10:30AM
Business Wire
More Americans plan to shop last minute with
64% planning to hit the stores on December 26
Three in four Americans find re-gifting
socially acceptable
A vast majority of Americans are extending their holiday
shopping, with more planning to shop last minute (79% vs. 75% in
2013) and 64% shopping the day after Christmas (on par with 2013),
according to the latest American Express Spending & Saving
Tracker. Perhaps emerging as a rival for traditional shopping
holidays like Black Friday, the day after Christmas is becoming a
more popular day to hit the stores, with consumers predicting they
will spend an average of $192 on December 26, up from $188 last
year.
View/download the American Express Spending & Saving
Tracker
“This year’s holiday shopping season does not seem to have a
clear-cut beginning, middle or end,” said David Rabkin, Senior Vice
President of Consumer Lending Products at American Express.
“Americans are spending steadily over a longer period of time,
willing to hold out for better deals, even planning to hit the
stores even after Christmas to get the gifts they want at the right
price.”
For the consumers who plan to shop on December 26, their most
popular reasons include:
- Taking advantage of post-holiday sales
to buy things for yourself (34% vs. 33% in 2013)
- Using gift cards received from others
(26% vs. 19% in 2013)
- Taking advantage of post-holiday sales
to buy gifts for next year (21% vs. 18% in 2013)
- It's a tradition to go shopping that
day (14%, on par with 2013)
Perhaps surprisingly, men say they’ll spend almost twice as much
as women the day after Christmas, shelling out an average of $245
vs. $230 last year; women will spend $140, down slightly from $151
in 2013.
Re-gifting and Returns Solve the Dilemma of Unwanted
Gifts
Whether it doesn’t fit or wasn’t on your list, re-gifting a
holiday present is officially part of appropriate yuletide
etiquette, with more than three in four Americans finding it
socially acceptable (on par with 2013). Consumers report re-gifting
an average of four presents last year, with the most popular items
to re-gift:
1. Kitchenware (20%)
2. Sweaters (15%)
3. Electronics (13%)
4. Gloves (13%)
5. Toys (13%)
Consumers say they’re most likely to give a re-gifted present to
friends (41%), coworkers (32%) and siblings (29%).
While re-gifting is a popular way to shed unwanted presents, the
return/exchange is also common. Among shoppers who plan to return
and/or exchange gifts the day after Christmas, 95% say they
typically spend the same or more at the retailer that day. And
nearly half of Americans will ‘fess up, saying they’d tell their
loved one if they returned their gift (43% vs. 41% in 2013).
Shoppers Minding the Budget, Still Splurging on
Selfies
Midway into the holiday shopping season, shoppers are still
taking a cautious approach to holiday spending, with most planning
to stick to their budgets (70% vs. 56% in 2013). Shoppers have been
surprised by a few higher costs this holiday season, citing a few
reasons for potential budget overages:
- Shipping (40% vs. 34% in 2013)
- Holiday décor (32% vs. 23% in
2013)
- Transportation for holiday events (29%
vs. 26% in 2013)
- Gift wrap (29% vs. 20% in 2013)
- Hostess gifts (18% vs. 10% in
2013)
Another unforeseen cost Americans will face is the impulse to
self gift. A whopping 74% have shopped for themselves this holiday
season, and more than half report those purchases were impulse buys
(53%).
Celebrating the holidays with gifts to oneself
doesn’t stop there, as 80% of Americans will invest in their social
lives by spending on holiday celebration plans (vs. 74% in 2013).
Furthermore, in preparation for holiday parties and New Year’s
dates, most will indulge in “selfie spending” and at much higher
rates than in years past, making sure they look their best for the
festivities:
Item 2014
% change since 2012 Hair cut/styling
66% +78% New outfit 65%
+117% New shoes/accessories
53% +130% Manicure/pedicure
34% +143% Waxing
23% +229% Spa-facial, body treatment
20% +233%
About the American Express Spending & Saving
Tracker
The American Express Spending & Saving Tracker research was
completed online among a random sample of 1,507 adults, including
the general U.S. population, as well as an affluent demographic
defined by a minimum annual household income of $100,000.
Interviewing was conducted by Ebiquity between November 20 and 22,
2014. The results reported have an overall margin of error of +/-
2.5 (overall) and +/- 2.6 (holiday shoppers) at the 95 percent
level of confidence.
About American Express
American Express is a global services company, providing
customers with access to products, insights and experiences that
enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,
foursquare.com/americanexpress, linkedin.com/company/american-express,
twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products and services: charge and credit cards,
business credit cards, travel services, gift cards, prepaid cards,
merchant services, business travel, and corporate card.
About Ebiquity, Plc.
Ebiquity are independent marketing performance specialists.
Ebiquity enables brands across the world to make better informed
decisions to improve their brand and business performance across
integrated communications channels. Learn more at ebiquity.com.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20141215005863/en/
American ExpressKimberly Litt,
212-640-0453kimberly.b.litt@aexp.com
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