New York City
The gift-buying frenzy may be over, but Wednesday kicks off the next phase of the holiday shopping season as one-in-five shoppers plan to hit the malls, according to a holiday survey from the International Council of Shopping Centers, Inc. (ICSC) and UBS Securities LLC.
The survey, which was conducted between Dec. 13-16, 2007, polled 1,018 adults comprising 510 men and 508 women, 18 years of age and older.
The survey said that 18% of consumers, or nearly one-in-five consumers surveyed, plan to go shopping today. Many of these shoppers are hitting the stores, gift cards in hand, ready to scout out post-holiday discounts and to return or exchange gifts.
In fact, 29% of the gift cards sold during the holiday period are expected to be redeemed the week after Christmas, according to the ICSC.
"Gift cards have transformed the holiday-shopping landscape and they are extending holiday shopping well past Christmas Day," said Michael P. Niemira, ICSC chief economist and director of research. "Dec. 26th begins that new phase of the holiday shopping season. The day is expected to be busy for shopping as consumers flock back to the nation's retailers.”