Only 17.1% of Americans are done shopping—12 million more were finished this time last year—as "Christmas hiber-nation" gains ground, according to a new survey by America's Research Group (ARG). Consumers "hibernate" until the last few days before Christmas for deals they expect will beat Black Friday's offerings—50%, 60% and 70% off, ARG said.

Britt Beemer, the chairman and founder of ARG who is known for his Christian retail channel studies, estimated that far fewer Americans shopped the weekends of Dec. 1 and Dec. 8 than at any time in the last decade—42.6% this year with the previous low being 43.1% in 2002.

Of those who did shop Dec. 8, a far greater number said they were seeing fewer discounts at 24.7%—the lowest since 2008, which was 27.5%. Self-gifting, a major trend last season, is way down to its lowest since 2008 at 33.6%, ARG said.

Additionally, 49.1% of shoppers are waiting for 60% to 70% this year compared to 38.4% of people surveyed looking for the same markdowns in 2011; and 52.4% are waiting for 50% to 60% off discounts compared to 41.6% markdowns last year. More shoppers are also going to fewer stores this year, with those visiting to just one to three stores at 27.5% this year versus 23% in 2011.

"The numbers shopping fewer stores represents a dramatic shift, and it is indicative of what is shaping up to be the most cautious season in a decade," Beemer said. "A lot more people went to six to 10 stores last year then are going this year at 28.8% now compared to 32.7% last year. It's simple, if you are saving money, you look at the ads and only shop the stores with the hottest deals.

"This research builds on [ARG's] last study showing that the number of Americans waiting to the last three days before Christmas to finish shopping was at a 25-year-high," he added.

• Prev
• Next