Post-Christmas deals entice shoppers
Posted December 26, 2011
Raleigh, N.C. — Christmas may have come and gone Sunday, but the holiday shopping season is far from over.
Shoppers still recovering from Black Friday, Cyber Monday and the stress of last-minute shopping before the holiday weekend packed stores again Monday, looking to swap out or return those unwanted gifts while also taking advantage of big-time sales.
With some stores slashing prices by 50, 60 or even 70 percent, retail experts say Monday could be the strong start to a week that accounts for 15 percent of all holiday shopping revenue.
Many were cashing in gift cards they got just the day before. "It's like money burning a hole in my pocket, and I will use it," said Beverly Chrismon.
Research firms that track spending habits estimate at least one in five shoppers prowling the mall on the day after Christmas has at least one gift card.
The day after Christmas is the second-highest revenue day for retailers, with as much as $8 billion being spent. According to ShopperTrak, a research firm that monitors shopping, store traffic Monday could be up as much as 60 percent from this day in 2010 because of Dec. 26 falling on a Monday.
In total, stores are expected to ring up $469.1 billion during the holiday season, which runs November through December.
Many Triangle malls extended their hours Monday to take advantage of the crowds. Cary Towne Center opened Monday at 6 a.m. Triangle Town Center wasn’t far behind, opening its doors at 7.
Crabtree Valley Mall, The Streets at Southpoint in Durham and Cross Creek Mall in Fayetteville all opened at 8 a.m.
Shoppers hoping to make returns or exchanges should be ready for long customer service lines and potential restocking fees, which are becoming more widespread at some retailers.