Several of the religious festivals during the winter holiday season are celebrated with the exchanges of gifts, and the winter holiday season thus also incorporates the "holiday shopping season". This comprises a peak season for the retail sector at the start of the holiday season (the "Christmas shopping season") and a period of sales at the end of the season, the "January sales".
Although once dedicated mostly to clearance sales, the January sales now comprise both winter close-out sales and sales comprising the redemption of gift cards given as presents. Young-Bean Song, director of analytics at the Atlas Institute in Seattle, states that it is a "myth that the holiday shopping season starts with Thanksgiving and ends with Christmas. January is a key part of the holiday season." stating that for the U.S. e-commerce sector January sales volumes matched December sales volumes in the 2004/2005 winter holiday season
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