Yahoo Autos 8 Things Most Americans Don’t Know About Holiday Spending
Shopping for the holidays can be acutely stressful, and most of us don’t have the time to go around hunting for intel on consumer trends and all the other stuff that makes the holiday retail world go round. But, as the saying goes, knowledge is power, and before you shell out money to make the season as merry as can be, it’s helpful to have an idea of the big picture at hand and to nab some answers to big-ticket questions. For instance: What behavior are retailers banking on this year? How many consumers will risk going into debt over Christmas? Where and how are people shopping? How are the pandemic and inflation playing a role here?
See: 6 Holidays Purchases That You Should Only Make at Costco
Check Out: 4 Costco Items That Have Remained Cheap for Years
Free Holiday Returns Might Be Fazed Out
Holiday return amounts in the U.S. have been steadily climbing, with this year expected to reach $158 billion. Some stores just can’t afford it due to inflation, and so they’re offering a limited return window or restocking fee. Stores such as Gap, Old Navy, Banana Republic and J. Crew have shortened their regular return windows to within a month. Anthropologie, REI and LL Bean all now have around a $6 fee for mail-in returns.
Holiday Shopping Started Earlier Than Usual This Year
“In fall 2021, 40% of consumers had already started their holiday shopping, and a third shopped even earlier in the year,” said Dave Fisch, general manager of Shopkick. The season for shopping kicked off even earlier this year due to fears of inflating holiday prices. In fact, 56% of consumers have already started shopping in October instead of waiting until later in the season.
Only 26% of Consumers Shop at the Last Minute
A Drive Research survey found 26% of people won’t finish their holiday shopping until the week leading up to Christmas. More respondents (47%) said they won’t finish buying holiday gifts until early-to-mid December. One of the main reasons for not putting off holiday shopping is crowding. Not liking large crowds is the reason 58% of shoppers won’t shop during Cyber Week 2022.
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