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| Uncommon Sense | The procrastinator's guide to great gift-giving
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Many of us will still be shopping on Christmas Eve. Stupidly late, you say? Heck, no. It's not only easier, it's a lot cheaper.
By MP Dunleavey
Left your holiday shopping until the last minute? You, me and millions of other people, according to an NOP World survey. But dont let the super-organized got my shopping done in July, nah-nah-nah types get you down.
Procrastinators have the upper hand. Why? Because last-minute shopping, when done properly, can save you stress, time and, above all, lots of money. I'll get back to the savings in a minute, but first I need to explain how this fascinating phenomenon evolved.
The big, fat, last-minute discount factor
It works like this: As the number of last-minute shoppers increases, so does the pressure on retailers. We are a nation of procrastinators, says Ellen Tolley, a spokeswoman for the National Retail Federation. Many people wait till the last minute to finish their holiday shopping -- and even more wait until the last minute to start.
In fact, sales data from the International Council of Shopping Centers indicate that, every year, more and more people are leaving their shopping until the last second. In 1999, retail sales during the last week before Christmas were about 24% of all holiday sales; in 2002, 41% of holiday sales were made that last week.
Tolley says that as of mid-December 2002, only 15% of Americans had finished shopping, leaving 85% to cram in gift-buying into those last two weeks. And this year promises more of the same. Based on their survey data, NOP World estimates that in 2004, 24% of Americans weren't even planning to start their shopping until the week before Christmas.
Theres a method to this madness
On the surface this sounds insane. Why would more and more (and more) people leave their shopping to the last possible second? Answer: Its the best possible financial solution!
"Consumers remain wary about spending and will hold out until they feel they are getting the best value for their money," says Cary Silvers, vice president of research firm NOP World Consumer.
Related news and commentary on MSN Money
As procrastinators slowly gain strength and numbers, retailers are being forced to give in to our demand for down-to-the-wire deals. Have you noticed how many stores now offer post-Christmas sales even before Christmas day? That Web sites are bending over backward to attract the tardy with promotions like free shipping and in-store pickup?
Thats because even though so many of us are running late, retailers are dependent on our holiday purchases to keep them in the black. And shoppers know that. Heh heh. (Imagine if the entire country refused to shop until Dec. 23! Sure, parking would be a problem, but panicked retailers would discount everything to 75% off!)
In addition to taking advantage of 11th-hour discounts, here are some other ways to achieve the cheapest holiday ever:
The last-minute shoppers guide to big savings
Give in to pressure. You have so many gifts to buy and so little time to buy them that, blam! You blow out the generosity lobe of your brain. Were you thinking of buying gifts for your kids teachers, your neighbors and your devoted dog-sitter Allan? Not anymore! You dont have time! Your friends may be a little ticked off, but youll be overjoyed when you see your Visa bill.
Give the gift of gift cards. The trouble with shopping for actual presents is that its too easy to lose track of what youre spending. Solve that problem by getting everyone a gift card for a fixed amount (it looks and works just like a credit card) -- and let them do the shopping. It takes the guesswork out of gift-buying, and helps you to stick to your budget, says Tolley of the retail federation.
Follow the one-gift formula. If you had more time, youd end up getting your sister the skirt that matches the sweater, and the book she wants, and it would be great -- but it would have one mother of a price tag, my husband points out. See? People who start shopping in July buy so many gifts they end up taking out a second mortgage. Fortunately, were smarter (and lazier) than that.
Let desperation be your guide. Last-minute shopping forces me to focus because I dont have time for angst, says Vanessa Aspillaga, a star of the Broadway play Anna in the Tropics, who does eight shows a week and hasnt done a lick of holiday shopping as we speak. You cant dilly-dally over will they like this or that and maybe Ill get both. Youre on a mission and that saves you a lot.
Bake for two days. Why brave the crowds of frenzied last-minute mall shoppers when in a single trip to the grocery store you can buy 18 pounds of flour, 6 pounds of chocolate chips and some eggs -- and make it a Tollhouse Christmas. Yeah, youll be up all night, but youll only spend $12.53.
Its the thought that counts. Just keep saying that to yourself as you buy commemorative postage stamps for everyone. Youre thinking about giving your loved ones cashmere and fine scotch. And, really, you would, if you could afford it, but you cant. Thankfully, it is the thought that counts. And you hope they like the stamps.
Why shop now when you can wait even longer? These days most people understand that its not about sharing the holiday spirit, its about getting the steepest discount! Your friends and relatives will be grateful when you tell them your gifts wont arrive until after the 26th -- because you want to take advantage of clearance sales. Or you decided to become Greek Orthodox this year.
Avoid the procrastination penalty
Last-minute shopping can backfire if youre not careful, so follow these tips to avoid overspending.
Dont miss shipping deadlines. Its amazing how quickly that $19 shirt can cost you $73 when it absolutely has to be there overnight.
Stay calm. As FDR once said when shopping on Christmas Eve, you have nothing to fear but fear itself. And it's fear that can cause an otherwise rational person waiting impatiently at the checkout line to scoop up an armload of overpriced "stocking stuffers" -- just in case.
Wear comfortable shoes. Its a well-known fact that aching feet cause brain spasms like this: Gosh, I really -- I need something else for Sam -- oh, and Julie -- I forgot Grandma -- just one more -- maybe a necklace . . . And the next thing you know, Visa is calling you to report unusual traffic on your credit card.
Shop at off-peak times. Who can think clearly, and shop thriftily, when bashing through a vicious mob?
Never shop without a list. According to a Roper survey, 63% of procrastinators admit that they never know what to buy. Well, sit down and think about it! Call Dad to ask what Mom wants. Call your sisters husband to find out whether she still listens to Duran Duran. A little research can prevent you from wasting a lot of money on useless gifts no one wants.
And have a happy, and frugal, holiday season!
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