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Post Holiday Shopping

Posted By Barry Ritholtz On December 17, 2003 @ 2:19 pm In Finance | Comments Disabled

From a new American Express news release [1]. Not only are the bargain hunters out there, they will be “regifting” unwanted items.

There may be a new “Black Friday” for retailers this year: December 26th. According to the 2003 American Express Retail Index on holiday shopping, consumers plan to flood stores looking for marked-down items and to use their gift cards after the holidays are over.

A majority of Americans (52%) plan to shop for discounts during the post-holiday season. This group dwarfs the crowds who had planned to shop the day after Thanksgiving, known as “Black Friday” (34%) and includes more women than men (61% vs. 39%).

“Post-holiday shopping is fueled by the search for even bigger discounts and the opportunity to use gift cards received over the holidays,” said John Theiss, vice president, retail industries, American Express. “Consumers give every indication that they will continue to shop well after the holidays are over this year.”

Yeah, discounts are going away . . .

Than there’s this: Regifting: The gift that keeps on giving

The survey found that nearly a third of shoppers (31%) have regifted at least one or more times. On average, those who do regift have done so three times. Women are more likely to regift than men (60% vs. 40%). Shoppers with higher household incomes are more likely to regift. Nearly two in five (39%) of those with household incomes of more than $75,000 say they regift compared to nearly one in four (23%) of those who report household incomes of $25,000 or less.

Those past the Rockies are less likely to keep what they receive: 38% of consumers in the West admit to regifting. This compares to consumers in the South (34%), Northeast (29%) and North Central states (21%). For some, it’s not too early to think about the 2004 holiday lists: 3% will start gift buying “immediately after Christmas” and 7% in January or February.

How American Express can mention regifting [2] in their press release, and not even nod towards Seinfeld [3] is an unconsionable theft of buzz word. (“I think this is the same one I gave him. He recycled this gift. He’s a regifter!”).

More Than Half of Americans Expected to Troll for Discounts Post Holiday [1]
Almost One-Third Plans to ‘Regift’
American Express release, December 17, 11:22 am ET


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2003/12/post-holiday-shopping/

URLs in this post:

[1] American Express news release: http://biz.yahoo.com/bw/031217/175466_1.html

[2] regifting: http://www.seinfeldscripts.com/TheLabelMaker.html

[3] Seinfeld: http://www.sonypictures.com/tv/shows/seinfeld/

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