Eight-one percent of shoppers plan to shop end-of-year sales, and 63% plan to shop for themselves, according to the two most-recent monthly surveys by digital-offers destination RetailMeNot. Furthermore, of survey respondents aged 18- to 34-years-old, 92% of them plan to shop post-Christmas sales.
Sixty-six percent of these post-Christmas shoppers are motivated by lower prices, while 59% are enticed by the deals. As you might imagine, many of these shoppers say that they're simply ready to indulge on themselves, following the giving season. They're enjoying the expense, spending an average of $160 on themselves and $179 on gifts for others. Men, in particular, plan to spend substantially more on themselves ($197) during end-of-year sales than women ($131).
Post-Christmas, retailers also expect returns. This year, however, only 32% of shoppers indicated that they typically return gifts they receive from family and friends for the holidays. This means that returns are on the decline, as 45% of shoppers admitted to typically returning gifts in 2013, according to a RetailMeNot survey in December 2013.
In light of returns, 40% of respondents indicated that they prefer to get money back from the store. Sixteen percent favored getting gift cards/certificates, 13% preferred exchanges for other items at the store and 11% favored store credit.
In addition, the Nov. 17-20 survey found that gift cards are no longer considered unfavorable gift options:
- 46% said their favorite holiday present to receive is a gift card
- 91% have received a gift card at least once as a holiday present
- 84% would not let their holiday gift cards go unused past January 2015
- 38% have used a gift card they received to purchase a present for someone else
- 27% have gifted a card they received to another person
- 44% of women admitted to using gift cards to buy a gift for another person; 32% of men admitted the same
- 11% have sold the gift card for the cash equivalent
- 9% have used a gift card-exchange site
[Image: www.gettyimages.com / fotostorm]