NEW YORK (BankingMyWay) — By Dec. 24, you’d think holiday shoppers would be exhausted from running to the mall and post office to buy and send holiday gifts.
Not enough to stop shopping even after Christmas, according to American Express.
“Most Americans are just over halfway done with their shopping,” says Claire Bennett, an executive vice president of membership benefits at the card company. “And many have plans to spend even after the Christmas holiday.”
The credit card giant says in a report released last week that Americans have another average $445 to spend before their holiday shopping is done, while a healthy chunk of the U.S. populace – 57% of consumers – say they will continue their shopping spree after Santa parks his sleigh back at the North Pole on Dec. 25.
Some of it is just foot-dragging by an old perennial – the last-minute shopper. Amex says that 77% of consumers say they’ll be out in the last 24 hours before Christmas grabbing some gifts up against the clock.
But Amex says another 35% of American adults say they will continue to shop during the last week of December just to grab some good deals for themselves.Another 21% will catch “early bird” fever and start their 2014 holiday shopping the day after Christmas.
American Express also looked at re-gifting, with some surprising results: It looks like re-gifting is in decline, albeit only moderately so, as 71% of Americans say it’s OK to flip unwanted gifts to friends and family – down from 79% in 2011.