For many, the holiday shopping season has concluded. Holiday celebrations have taken place, gifts have been given, and shoppers look to take a break until the New Year.
However, many American consumers will continue to shop post-holidays. According to the National Retail Federation, more than two-thirds (68 percent) of holiday shoppers say they plan to continue shopping in the week following Christmas.
This is particularly prevalent among millennial and Gen Z consumers. More than 80 percent of those aged 18-24 plan to shop between December 26 and January 1.
There are three major reasons for this post-holiday frenzy:
- Sales and promotions – More than half of consumers say sales and promotions get them to shop during the final week of the year.
- Gift cards – More than one-fourth (27 percent) of holiday shoppers plan to use gift cards the week after Christmas, and that jumps up to 41 percent for shoppers under the age of 35.
- Returns – Many will look to return items given to them as gifts. 58 percent of holiday shoppers say they expect they will need to return or exchange holiday gifts this year.
“Whether shoppers are making returns or looking to find a deal, there are plenty of opportunities for retailers and brands to continue engaging them even as the holiday season ends,” the NRF says.