(NEW YORK) — The day and week after Christmas is one of the busiest times for gift card redemption, said a spokeswoman for Walmart. Stores are often also inundated with gift returns.
“If people return something, there’s a 70 percent chance they will buy something else,” said Britt Beemer, retail analyst and chairman of America’s Research Group.
Deals will be different in-store and online, so research is key. A spokeswoman for Walmart said its website and stores would offer 50 percent discounts but on different items. Many Walmart stores will open at 5 a.m. Monday, and the store will have a clearance on select toys, home products, some apparel and seasonal merchandise, the Walmart rep said.
Most retailers offer deep discounts on Christmas decorations, even fake Christmas trees, which shoppers can easily stow away in the basement or garage for next year.
Apparel deals will be aplenty for those who are in stores returning gifts. Last year, American Eagle, Aeropostale, New York & Company, Polo Ralph Lauren, Banana Republic factory stores, Express and Old Navy offered in-store deals the day after Christmas. The Gap offered an extra 50 percent off sale items in-store until noon, according dealnews.com.
Jennifer Black, retail expert and president of independent research firm Jennifer Black and Associates, recommends that shoppers save receipts in case items are discounted further. Some retailers offer price adjustments.
Black said apparel retailer Talbots is likely to offer a 40 percent discount, because it had been struggling with holiday sales.
Last year, department stores offered a plethora of online coupons. Macy’s, Nike, Ann Taylor Loft, JCPenney, Best Buy, Walmart, Tory Burch, Timberland and Kiehl’s are examples, said Sakraida. Macy’s had a coupon of $10 off a purchase of $25 or more.
Copyright 2011 ABC News Radio
Evan McKirdy, Tim Hume and James Masters, CNN
Hope King, CNN