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23 Million Consumers Predicted to Buy Gifts on Christmas Eve

Retailers shouldn’t lock their doors for Christmas vacation just yet. New survey results suggest more than 23 million consumers are likely to make final holiday purchases on Dec. 24.

And these eleventh-hour buys will happen in stores – seeing as it’s too late to order gifts online and have them under the tree in time, said Michael Kercheval, president and CEO of International Council of Shopping Centers, which conducted the survey with Goldman Sachs.

“With many last-minute shoppers still needing to finish their gift lists, brick-and-mortar retailers will be buzzing with activity on Christmas Eve,” Kercheval said.

More men (17 percent) than women (13 percent) plan to shop that day. Consumers who are 18 to 34 years old are more likely to snag gifts (21 percent), while shoppers 55 years old and older are less likely to spend (8 percent).

More people in the Midwest (19 percent) said they will by presents on Christmas Eve compared with consumers in the West (16 percent), Northeast (13 percent) and South (13 percent).

Researchers used survey results and government data to predict more than 23 million consumers older than 16 years old may shop on Christmas Eve.

After Christmas, 47 percent of respondents plan to shop between Dec. 26 and New Year’s Day.

Reach BusinessNewsDaily staff writer Brian Anthony Hernandez at Bhernandez@TechMediaNetwork.com. Follow him on Twitter (@BAHjournalist) and become his friend on Facebook (BAH Journalist) to interact or stay updated on news about small businesses.