Dec. 26 could be the busiest day of the year for shopping. Find out why people are heading to the malls on that day.
The day after Christmas could become the busiest day of the year for shopping.
More people than ever before plan to shop on Dec. 26 this year, according to the latest American Express Spending & Saving Tracker. Since 2011, this poll has surveyed Americans about their plans to shop on Dec. 26.
Jed Scala, senior vice president of consumer lending at American Express, explains in a news release:
“Black Friday and Cyber Monday are no longer the only days for big savings, as savvy shoppers have come to expect an entire season of discounts and deals.
“As we enter the final stretch of the shopping season, we are seeing a growing preference to complete shopping online, possibly connected to the stream of enticing retail offers in consumers’ inboxes.”
For the latest poll, about 1,500 adults were surveyed in mid-November. The results, released last week, show that:
- 66 percent of respondents planned to shop on Dec. 26 this year (compared with 64 percent last year).
- 45 percent planned to shop on Black Friday.
- 47 percent planned to shop on Cyber Monday.
Americans’ top reasons for shopping on Dec. 26 include:
- Taking advantage of post-holiday sales to buy things for themselves (cited by 38 percent of respondents)
- Using gift cards received from others (25 percent)
- Taking advantage of post-holiday sales to buy presents for the following year (21 percent)
The latest Spending & Saving Tracker also found that most people (73 percent) plan to shop at the last minute — primarily to find the best deals. If you’re among them, be sure to check out “11 Last-Minute Gifts That Don’t Seem Last-Minute.”
Another way most shoppers will reduce costs is through regifting, with 76 percent finding it socially acceptable and 57 percent saying they are likely to regift this year.
The top three items people would regift are:
- Kitchenware (cited by 22 percent on respondents)
- Sweaters (17 percent)
- Scarves (15 percent)
If you’re considering regifting, be sure to first check out “7 Secrets to ‘Regifting’ Without Getting Caught.”
Do you plan to shop on the day after Christmas? Let us know why and where you plan to spend money on Dec. 26 by sharing your plans in our Forums. It’s a place where you can swap questions and answers on money-related matters, life hacks and ingenious ways to save.