Most Americans “Deal-aying” Holiday Shopping

73% Will Shop Last Minute, as They Wait for Best Deals

More Consumers Shopping Day after Christmas than Ever Before

NEW YORK–(BUSINESS WIRE)–Going into the final stretch of the holiday season, a majority of
Americans are far from finished with their holiday shopping, according
to the latest American Express Spending & Saving Tracker.
Seventy-three percent (73%) plan to shop last minute (vs. 79% in 2014),
as most wait to find the best deals (44% vs. 46% in 2014).


View/download
the American Express Spending & Saving Tracker

Other reasons consumers are shopping last minute include trying to save
up until they have enough money (22%, on par with 2014) and difficulty
finding the time to shop (20% vs. 16% in 2014).

In terms of where consumers choose to make purchases, on average, 51% of
Americans have purchased items online this holiday season vs. 49%
in-store.

“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,” said Jed Scala, Senior Vice President, Consumer
Lending at American Express. “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.”

Reduce, Re-gift, Recycle

Earlier this year, 73% of Americans set a holiday budget (vs. 72% in
2014), and they intend to stick to it. Only 25% of Americans expect to
exceed this allotted amount, significantly down from 32% last year. To
stick to these budgets, Americans plan to cut back and reduce their
holiday spending (53% vs. 55% in 2014), and one way they plan to save
money is by cutting down on personal purchases compared to last year
(38% vs. 47% in 2014).

Another way Americans are planning to stick to budgets is through
re-gifting. Traditionally taboo, re-gifting has become commonplace, with
more than three-fourths of Americans (76%) finding it socially
acceptable (on par with 2014) and 57% claiming they will likely re-gift
this season. The top three items people would re-gift are:

1. Kitchenware (22% vs. 20% in 2014)
2. Sweaters (17% vs. 15% in
2014)
3. Scarves (15% vs. 12% in 2014)

Last year, more than half (54%) of consumers expected to re-gift, and
48% actually did. These gift recyclers gave an average of five re-gifted
presents.

December 26th:
The New Black Friday

The retail frenzy doesn’t end with Christmas. December 26th
has arguably emerged as its own shopping holiday, outranking the number
of people who expected to shop on Black Friday and Cyber Monday (66% on
December 26th vs. 45% on Black Friday and 47% on Cyber
Monday). This year, more respondents than ever before1 plan
to get some retail therapy on the day after Christmas (vs. 64% in 2014),
spending an average of $186 (vs. $192 in 2014).

The top reasons to shop on the 26th include:

  • Taking advantage of post-holiday sales to buy things for themselves
    (38% vs. 34% in 2014)
  • Using gift cards received from others (25% vs. 26% in 2014)
  • Taking advantage of post-holiday sales to buy presents for the
    following year (21% vs. 21% in 2014)

About the American Express Spending & Saving Tracker

The American
Express Spending & Saving Tracker
research was completed online
among a random sample of 1,508 adults, including the general U.S.
population, as well as an affluent demographic defined by a minimum
annual household income of $100,000. Interviewing was conducted by
Ebiquity between November 17 and 19, 2015. The results reported have an
overall margin of error of +/- 2.6 at the 95 percent level of confidence.

About American Express

American Express is a global services company, providing customers with
access to products, insights and experiences that enrich lives and build
business success. Learn more at americanexpress.com
and connect with us on facebook.com/americanexpress,
foursquare.com/americanexpresslinkedin.com/company/american-express,
twitter.com/americanexpress,
and youtube.com/americanexpress.

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About Ebiquity, Plc.

Ebiquity are independent marketing performance specialists. Ebiquity
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communications channels. Learn more at ebiquity.com.

1 According to the American Express Spending & Saving
Tracker, which has surveyed Americans and their plans to shop on
December 26th since 2011

Contacts

American Express
Jane Di Leo, 212-640-8055
jane.e.dileo@aexp.com