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Survey: Thanksgiving weekend spending to increase nearly 25%

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Black Friday online shopping to surpass in-store.

Holiday shoppers are set to make retailers merry over the Thanksgiving weekend, as nearly 6 in 10 plan to shop over the weekend, according to a new survey from professional services firm Deloitte.  Americans plan to spend $369 over the course of the holiday weekend – a nearly 25% increase from last year's survey.  Among the key findings:

"The digital influence is likely to touch nearly every moment in the shopper's journey this holiday season."

  • Survey respondents shopping over the Thanksgiving weekend expect 59% of their spending to be online, up from 52% last year, compared to 36% in stores, down from 45% in 2014.
  • Black Friday surpassed Cyber Monday as the most popular online shopping day during the Thanksgiving holiday weekend. Two-thirds (66%) of those shopping over the holiday weekend plan to do so online on Black Friday, compared with 52% on Cyber Monday.
  • Among holiday weekend shoppers, 44% plan to shop in-store on Black Friday – a decline from 63% in 2012.
  • While shopping and spending online trumps in-store shopping, 50% of shoppers expect Black Friday deals to be comparable in-store and online.
  • More shoppers are turning to digital sources to look for weekend deals. Three of the four top places consumers expect to obtain information about Black Friday sales include retailer websites (62%), websites dedicated to featuring Black Friday deals (58%) and e-mails (38%).
  • While 14% plan to shop in-stores on Thanksgiving Day, nearly one-quarter plan to do so online. The No. 1 reason respondents cited for visiting stores is that they don't want to miss the best deals (64%).
  • Half of consumers will hold out to shop at their preferred retailers even if those stores are not open on Thanksgiving or Black Friday. More than half (56%) say that they feel more loyal to retailers who close on Thanksgiving Day.
  • Nearly one-third (30%) of respondents plan to shop the Saturday after Thanksgiving to support local businesses.

"The digital influence is likely to touch nearly every moment in the shopper's journey this holiday season," saidRod Sides, vice chairman, Deloitte LLP and retail and distribution practice leader. "With nearly 90% of respondents planning to go online at some point during the upcoming holiday weekend, digital retailing is about more than an online transaction. Mobile and online tools that are fit for the shopper's purpose – like product information and availability or tailored promotions – can influence where that customer shops and what they buy before they head to the store.  Retailers should aim to win the customer while they're making their lists at home, because once someone arrives at the store, it's often too late to inspire them."

 

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