The day after Christmas is considered one of the biggest shopping days of the year.
This year, millions of already weary and worn out shoppers got a second burst of energy from revenue-driven retailers advertising bargain basement deals of up to 75 percent off on thousands of items, according to dozens of retail industry analysts, including some from the National Retail Federation (NRF).
According to the NRF—the largest retail trade association in the country, the stretch between Thanksgiving and Christmas and New Year’s generates about $470 billion in sales across the country. By some accounts, the holiday shopping season will extend through the end of the week. Nearly all of the respondents in the NRF study and poll (85 percent) as well as one conducted by the consumer trade publication, Consumer Reports, said the lure of post-Christmas sales is indeed the biggest reason for a trip to the mall.
“Surveys show that the vast majority of Americans who will be shopping this week are predictably looking for post-holiday blow-out sales,” says Tod Marks, a senior editor at Consumer Reports. “And those who aren’t shopping this week are predictably all shopped out and low on money and patience.” Analysts say the number of people expected to shop the day after Christmas will increase by at least 14 percent over last year—57 percent to 43 percent.
An unofficial random sampling of shoppers Monday afternoon at Woodbridge Shopping Center in Woodbridge, N.J., seems to indicate that the analysts’ predictions for boom post-Christmas sales are right on target.
“I’m returning a couple of gifts that I don’t need and exchanging them for something else,” says Rick of Metuchen, N.J. He added, “Some of the prices are the lowest I’ve seen in months!” And Jean of Edison says, “I just found the same computer I purchased a few weeks before Christmas on sale for $200 less than what I paid for it! Incredible!”
And one budget-conscious shopper is already preparing for Christmas 2012.
“I stock up now for gifts for next year,” says Gloria of Highland Park, N.J. “It’s a good way to save money and beat the crowds next Christmas season.”