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Survey: Eight in 10 consumers will shop post-holiday salesTuesday, December 30, 2014 > 08:06:16
(Chain Store Age)
Consumers who didn’t get what they wanted for the holidays are taking matters into their own hands. According to new research from digital deals site RetailMeNot, 81% of consumers plan to shop end-of-year sales.
Of these shoppers taking advantage of post-holiday savings, more than half (63%) plan to shop for themselves. Millennials are especially interested in after-Christmas sales, as 92% of respondents 18 to 34 years old said they plan to shop during this time.
While lower prices (66%) and deals (59%) are top motivators for end-of-year shopping, nearly a quarter (23%) of survey respondents indicate they shop post-holiday sales because they are ready to indulge on themselves after completing their shopping for others. These consumers are willing to spend an average of $160 on themselves and $179 on gifts for others. Men plan to spend substantially more on themselves during end-of-year sales than women ($197 compared to $131).
Only 32% of shoppers indicated they typically return gifts that they receive from family and friends for the holidays. In 2013, close to half (45%) of shoppers said they typically return gifts. When it comes to returns, respondents prefer to get money back from the store (40%). Less favored were getting gift cards/certificates (16%), exchanges for other items at the store (13%) and store credit (11%).
Almost half (46%) of survey respondents say their favorite holiday present to receive is a gift card.