Austin, TX—There are procrastinators aplenty this holiday season. And others ready to pounce on those post Christmas sales. In its latest edition of its Shoppers Trend Report, RetailMeNot reports 67% of consumers intend to shop the end-of-the-year sales and plan to spend an average of $270 during this time.
The biggest motivators for consumers to shop the post-holiday sales are the retail discounts and offers in market and the gift cards received as a holiday gifts, says RetailMeNot.
In fact, 3 in 5 (60%) are motivated to shop by low prices while close to the same amount (57%) would be persuaded to shop by great deals. Gift cards also encourage Americans to shop end-of-the-year sales with nearly 2 in 5 (38%) shoppers planning to redeem a gift card or gift certificate they received as a holiday gift. Other motivators include:
- Over 1 in 4 (26%) are ready to shop for themselves after a season of shopping for others
- 1 in 4 (25%) take advantage of a retailers’ coupon
- More than 1 in 5 (21%) didn’t receive the gift they wanted
- Close to 1 in 5 (19%) want to redeem a rebate
More than 2 in 5 (43%) consumers who received a gift card during the winter holidays would use it to make a purchase in January, while close to 3 in 10 (28%) plan to utilize it sometime in December.
Gift cards may be a preferred go-to last-minute gift (67%), but 1 in 3 (33%) consumers confessed to using one they received as a gift to purchase a present for someone else, with parents more likely than non-parents to do this (43% vs. 28%). In, fact, more than 1 in 5 (23%) have re-gifted one to someone else. Additionally, close to 1 in 6 (14%) have let them go unused, followed by selling the gift card for cash (8%) or using a gift card exchange website (7%).
Tis the Season for Returns
Typically, 1 in 3 (33%) consumers will return a gift they received during the winter holiday season. On average, these folks will return 20% of their gifts received during this time. While close to 1 in 2 (46%) don’t return any gifts they receive in order to not offend the gift giver, 3 in 10 (30%) will give the ones they don’t like to a friend or family member. Women might be more resourceful than men as close to 1 in 4 (23%) likely to re-gift the holiday gifts they do not like, while only 17% of men are likely to do so.