Boxing Day sales may not be quite as widespread in the U.S. as they are in the U.K. and Canada, but American consumers are still planning to take advantage of after-Christmas bargains this week, according to the National Retail Federation.
In partnership with Prosper Insights & Analytics, the trade group surveyed nearly 7,000 U.S. shoppers and found that 51 percent said they will shop between Dec. 26 and Jan. 1, though only 4 percent will still be buying gifts. Of those who plan to trek out to stores or purchase from e-commerce sites, 27 percent will be using gift cards they received over the holidays, while 17 percent will brave the crowds in order to return or exchange unwanted gifts.
With self-gifting up 13 percent year-over-year this Thanksgiving weekend, the same trend is likely to continue as many retailers extend their post-holiday discounts into the new year. Nordstrom, for one, is advertising up to 50 percent off for its half-yearly sale, while Macy’s is giving shoppers the option of either an extra 20 percent off select departments or $10 off a purchase of $25 or more for “the stuff Santa missed.” Sneaker shoppers will also find bargains at Nike, which is offering an additional 25 percent off sale items through Jan. 5.
Investors were upbeat on U.S. retail stocks coming off the Christmas holiday: The sector rallied on Wednesday after a painful month of losses as Mastercard released data showing that retailers had their best holiday season in six years in terms of sales growth. Still, many analysts remain cautious as tariff negotiations continue with China and a political standoff between President Trump and the Federal Reserve stokes economic uncertainty at home.