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Four types of shoppers set the tone this holiday season

A woman walks down 34th Street during a shopping spree in New York on Monday. Many stores offered deep discounts on the day after Christmas.

Associated Press

A woman walks down 34th Street during a shopping spree in New York on Monday. Many stores offered deep discounts on the day after Christmas.

Four types of American shoppers have altered the shopping landscape this holiday season.

There's the bargain hunter who times deals. The midnight buyer who stays up late for discounts. The returner who gets buyer's remorse. And the "me" shopper who self-gifts.

"We're seeing different types of buying behavior in a new economic reality," says C. Britt Beemer, chairman of America's Research Group.

Here are profiles of the different types of shoppers:

THE BARGAIN TIMER: Cost-conscious shoppers haven't just been looking for bargains this season. They've also been more deliberate about when to find those deals. Many think the best bargains come at the start and the end of the season, which has created a kind of "dumbbell effect" in sales.

For the week that ended Nov. 26, which included the traditional start of the holiday shopping season on the day after Thanksgiving, stores had their biggest sales surge compared with the prior week's since 1993, according to the International Council of Shopping Centers-Goldman Sachs Weekly Chain Stores Sales Index. The cumulative two-week-sales drop-off that followed marked the biggest percentage decline since 2000. Then, stores had another surge in the final days, as retailers stepped up promotions again.

THE MIDNIGHT BUYER: Bargain shoppers used to wake up at the crack of dawn to take advantage of big discounts on Black Friday, the day after Thanksgiving. This year, some shoppers instead stayed up late on Thanksgiving night.

This shift in behavior was in large part due to retailers' efforts to outdo each other during the traditional start to the holiday shopping season.

Twenty-four percent of Black Friday shoppers were at stores at midnight, according to a poll by the National Retail Federation, the industry's biggest trade group. That's up from 9.5 percent the year before, when only a few stores were open at midnight.

But those hours mostly appealed to the younger set. Of those shopping at midnight on Black Friday, 37 percent were ages 18 to 34. Only 23.5 percent of 35- to 54-year-olds were in stores by midnight.

THE RETURNER: Shoppers who were lured into stores by bargains gleefully loaded up on everything from discounted tablet computers to clothing early in the holiday season. But soon after, many suffered a case of buyer's remorse and rushed back to return some of the items they had bought. For every dollar stores take in this holiday season, it's expected they will have to give back 9.9 cents in returns, up from 9.8 last year, according to a survey of 110 retailers. It would be the highest return rate since the recession. In better economic times, it's about 7 cents.

THE "ME" SHOPPER: After scrimping on themselves during the recession, Americans turned more self-indulgent. It's a trend that started last year but became more prevalent this season.

According to the retail federation, spending for nongift items will increase by 16 percent this holiday season to $130.43 per person. That's the highest number recorded since it started tracking it in 2004.

.Credit CARD PURCHASES INCREASE

Consumers are choosing to pay with plastic

After several years of frugal festivities, consumers once again turned to credit for their Christmas shopping. Credit card purchases jumped more than 7 percent in November and surged again in early December, according to First Data, which tracks consumer payments. A survey by Consumer Reports found that shoppers planned to charge an average of $756 this holiday, up 6 percent from the previous year, though the number of people who plan to use credit has remained steady.

Washington Post

Four types of shoppers set the tone this holiday season 12/27/11 [Last modified: Tuesday, December 27, 2011 9:51pm]
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