The holiday shopping season doesn’t end once Christmas is over, according to the latest American Express Spending & Saving Tracker. In fact, the day after Christmas is creeping up on Black Friday as one of the biggest shopping days of the year.
Sixty-four percent of people surveyed by American Express plan to hit up the stores on December 26; about the same percentage as last year. Shoppers expect to spend a little more this year, though: an average of $192 compared with last year’s predicted average of $188 on that day. The biggest spenders will be men. They predicted spending an average of $245, while women guessed they’d spend an average of $151.
When asked why they were planning to shop after Christmas, 34% of respondents replied that they would be taking advantage of post-holiday sales to buy things for themselves. Another 26% said they’d be spending the gift cards they received for Christmas. Twenty-one percent of respondents are planning ahead – way ahead – and shopping for next year now, when they get the benefit of post-holiday discounts. Fourteen percent said that shopping on the day after Christmas was part of their family tradition.
Last minute shopping frenzy
And what about the present? Many people haven’t completed their holiday shopping yet and are waiting until the last minute. Seventy-nine percent of survey respondents said they’d be shopping right up until Christmas Eve. Last year, slightly fewer folks (75%) put off shopping until the last possible moment.
People aren’t just checking friends’ and family’s names off their shopping lists, either. Seventy-four percent of people said they’ve bought something for their own stocking this year—though they didn’t necessarily set out to do so. Fifty-three percent of them confessed that the purchase wasn’t planned.
Looking sharp for the holidays
Besides buying themselves gifts, people are spending money this season on some other types of self-indulgence. Since last year, there’s been a surge in spending on hair styling, clothes, shoes, manicures, pedicures, and other spa treatments.
Perhaps wanting to look their best at holiday parties, nearly two-thirds (66%) of folks will have their hair cut or styled, a 78% increase over last year. Sixty-five percent will buy a new outfit, a 117% spike since 2013. Fifty-three percent will buy new shoes or accessories, 34% will get manicures and/or pedicures, 23% will undergo waxing, and 20% will have some other body/facial spa treatment.
The American Express Spending & Saving Tracker asked a random sample of 1,507 for their opinions via an online survey between November 20 and 22, 2014.