Retailers across America have been anticipating December 26th, the day after Christmas, for weeks now. This year’s post-Christmas shop will be even more dramatic, since it fell out on a Monday.
The day is a shopping day every year, with shoppers ready to exchange items or redeem gift cards at the break of dawn. Last year, however, the 26th was a Sunday; a day often dedicated to family time, and a day on which blue laws usually require at least limited opening hours for stores. This year, it’s a Monday, and often still a vacation from work, too.
ShopperTrak, a retail research firm, predicted that foot traffic on the 26th would be 60% up from last year’s day-after-Christmas. In a survey from American Express, 57% of Americans said they planned to shop on the 26th, while last year the number reached 43%.
In general, after Christmas sales are popular for reasons other than just gift cards. Millions of Americans reported that they decided to cut back or delay on their Christmas spending, with many waiting for the 50% or 75% discounts available throughout the country after the holidays. A survey revealed that 6% of respondents are waiting until after January to do the majority of their shopping.
Retailers, on the other hand, prefer that shoppers buy sooner rather than later. Hundreds of stores offered 40% and 50% off deals BEFORE Christmas, instead of waiting.
The chief executive of a retailer explained: “The inventory is worth so much less in two weeks. With that kind of inventory, you’ve got to get rid of it. Whatever the margin is today, it’s that much lower next week and the week after when traffic stops.”Read More