Gift cards and returns make for big business after Christmas

Many people shop early to beat the holiday rush in the days leading up to Christmas. However, there?s no beating the post-Christmas crunch.

“It?s still a very big week of activity the day after Christmas, and is a good return day and a good sales day,” said Ken Lakin, chief executive officer of Boscov?s Department Stores. “People in the store will find a size that fits a little better or exchange it for something they prefer.”

One of the hottest items bought this year will be gift cards. According to a study bythe National Retail Federation, an estimated $24.81 billion will be spent on gift cards this holiday season, up from $18.48 billion last year.

“There is a lot of gift card giving if [customers] don?t know what to give, and they [often] redeem those [this] week,” Lakin said.

With the malls still so packed and busy, it?s always important to remember patience. After all, it is the companies who want to keep the consumers coming back for more.

“We try to accommodate the customer as best we can,” said Justin Barber, a spokesman for Best Buy.

To try and stem the flood of customers the day after Christmas, Best Buy has hired 25 to 30 seasonal employees per store. This increase in seasonal help is not odd for larger businesses, especially since Best Buy is expecting a 3 to 5 percent increase in holiday sales growth this year.

These additional employees will help keep more registers open longer and assist in returns and customer service.

“We try to make it as easy as possible to return stuff,” Barber said. “We encourage you to have your receipt or [proof of purchase] to make it go smoothly.”

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