Last-minute shoppers rush to stores to close out compacted shopping season [Video]

With five fewer shopping days this season, shoppers are scrambling to find something for everyone on their list.

With three days remaining before Christmas and the start of Hanukkah, the rush is on for last minute gifts.

According to the National Retail Federation, 30% of consumers wait until the final days to complete their holiday shopping, despite retailers offering significant discounts to boost year-end sales.

Many shoppers are feeling the pressure as the holiday deadline looms.

“We have everything 35% off, it’s crazy,” one retailer noted, highlighting the substantial discounts available to late shoppers.

The delay in shopping isn’t necessarily due to economic factors.

“As Christmas approaches, people realize they can get a better deal,” Alan Gin, Associate Professor of Economics at the University of San Diego, said.

In fact, Deloitte reports that consumers are expected to increase holiday spending by eight percent this year.

Professor Gin also pointed out …