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Season brings out new types of shoppers

Consumers change habits

Four new types of American shoppers have emerged this holiday season.

There’s the bargain hunter who times deals. The midnight buyer who stays up late for discounts. The returner who gets buyer’s remorse. And the “me” shopper who self-gifts.

It’s the latest shift by consumers in the fourth year of a weak U.S. economy. Shoppers are expected to spend $469.1 billion during the holiday shopping season that runs from November through December. While it won’t be known just how much Americans spent until the season ends on Saturday, it’s already clear they are shopping differently than they have in years past.

THE BARGAIN HUNTERCost-conscious shoppers haven’t just been looking for bargains this season. They’ve also been more deliberate about when to find those deals. Many believe the biggest bargains come at the beginning and end of the season, which has created a kind of “dumbbell effect” in sales.For the week ended on Nov. 26, which included the traditional start of the holiday shopping season on the day after Thanksgiving, stores had the biggest sales surge compared with the prior week since 1993, according to the International Council of Shopping Centers-Goldman Sachs Weekly Chain Stores Sales Index. The cumulative two-week-sales drop-off that followed marked the biggest percentage decline since 2000. Then, stores had another surge in the final days, as retailers stepped up their promotions again.

THE MIDNIGHT BUYERUsed to be, bargain shoppers would wake up at the crack of dawn to take advantage of big discounts on Black Friday, the day after Thanksgiving. This year, some shoppers instead stayed up late on Thanksgiving night to get deals.This behavior was in large part due to retailers’ efforts to outdo each other during the traditional start to the holiday shopping season. Stores like Macy’s, Best Buy and Target for the first time opened at midnight on Thanksgiving night, offering deals that once were reserved for the next day.

THE RETURNERShoppers who were lured into stores by bargains gleefully loaded up on everything from discounted tablet computers to clothing early in the holiday season. But soon after, many of them were rushing back to return the items they bought.It’s all about buyer’s remorse.For every dollar stores take in this holiday season, it’s expected they will have to give back 9.9 cents in returns, up from 9.8 last year, according to a survey of 110 retailers.

THE ‘ME’ SHOPPERAfter scrimping on themselves during the recession, Americans turned to shopping for themselves. It’s a trend that started last year but became more prevalent this season.According to the National Retail Federation, spending for nongift items will increase by 16 percent this holiday season to $130.43 per person. That’s the highest number recorded since it started tracking it in 2004.

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