Overall, 80 percent of Americans plan to complete their shopping sometime between mid-December and the eve of Chanukah or Christmas. A remarkable number of holiday shoppers overall (16 percent) will finish just one day before the holiday. More online purchasers (42 percent) than overall holiday shoppers (38 percent) plan to complete shopping during the last week.

And, more holiday shoppers are starting later. Those planning to wait until December to start their holiday shopping rose sharply to 29 percent, up from 20 percent last year. Those who say that they will start to shop only the week before the holiday also rose to 10 percent, from 8 percent last year.

The American Express findings show price and discounts to be the major motivator for shoppers across all demographics and the last-minute crowd is no different. Those completing their shopping during the last week before the holiday are more likely to be looking for storewide sales than shoppers generally, 70 percent vs. 65 percent. A large majority (72 percent) is seeking price cuts on particular items. Among those completing their shopping the day before the holiday, 85 percent are seeking sales or discounts, up from 79 percent a year ago.

The Holiday Rush Will Be Busier Than Usual
“The closer you get to the holidays, the greater the expectation among last-minute shoppers for sales and discounts,” said John Theiss, vice president, retail industries, American Express. “The combination of large numbers of last-minute shoppers and northeasterners recovering from last weekend’s snow, is likely to keep retailers very busy for the next two weeks.”

Americans planning to shop the week before the holiday seem to have a plan of attack. They are most likely to describe themselves as “destination shoppers” with a list of gifts to buy and stores to visit (37 percent). And, no different than any other shopping cohort, these last minute shoppers describe themselves as “bargain hunters” (33 percent). Those completing their shopping the last week will spend $938 on gifts this year; those finishing the day before the holiday may be willing to spend a bit more to complete their lists, estimating that their gifts will total $1,019.

The most popular gifts on the purchasing lists of shoppers who complete their shopping the week before the holiday are clothing (85 percent), music, tapes, CDs or DVDs (78 percent), toys or games (71 percent), gift cards, gift certificates or gift cheques (69 percent), perfume, cologne or cosmetics (56 percent), books, magazines or magazine subscriptions (48 percent), jewelry and watches (46 percent), and electronics and appliances (45 percent). They also plan to buy hardware, tools or automotive supplies (45 percent), home furnishings or decorative items (44 percent), kitchen and cooking equipment (44 percent), computers and accessories (33 percent), health, fitness or sports equipment (33 percent), experiential gifts (28 percent), pets and pet accessories (28 percent). About one in four say they will be purchasing wines and spirits (26 percent) and gourmet food items (24 percent). And while they’re shopping, 8 percent almost always expect to buy something for themselves.

Younger Shoppers and Men Lead the Charge
Self-described “last-minute shoppers” – the 11 percent of all consumers who describe their holiday shopping approach as “waiting until a few days or as late as the day before a holiday to start my shopping” – are likely to be younger: nearly two thirds (62 percent) are under age 45. They are more than twice as likely to be male (69 percent) than female (31 percent).

Most “last minute shoppers” regard their gift-buying quest as an anxiety-provoking chore (60 percent); only one in four last minute shoppers (25 percent) finds it pleasurable.

Last-Minute Shoppers Tend to Forgo Budgets; Like Plastic
True procrastinators – those who wait until Christmas Eve to finish shopping – are more likely to shop without a holiday budget than shoppers generally (29 percent vs. 24 percent). They also want free delivery or gift wrapping (40 percent, up from 31 percent last year).

The convenience of plastic is not lost on the last minute shopper. Those who complete their shopping during the last week are slightly more likely to charge their purchases than other shoppers: 67 percent will charge all, most or some gifts, compared to 62 percent of all shoppers. All but a very few (94 percent) say they prefer charging because it’s convenient compared to 89 percent of shoppers generally.

American Express Company is a diversified worldwide travel and financial services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, investment products, insurance and international and online banking.

The American Express Retail Index on holiday shopping was conducted by telephone between October 20, 2003 and October 28, 2003 and surveyed 803 heads of households, age 18 and older. The 2003 American Express Retail Index looked at buying attitudes, shopping trends and preferences among the general consuming public. The margin of error is +/- 3.5 percent.