Company News • 03.12.2015
Potential for 135.8 million holiday shoppers to shop online, in stores thanksgiving weekend
Although nearly 60 percent of holiday shoppers had already started checking off their shopping lists by November 10, millions more are eagerly waiting to hear what retailers have in store – and online – for the biggest holiday shopping weekend of the year.
According to NRF’s Preliminary Thanksgiving Weekend Survey, an estimated 135.8 million shoppers (58.7%) definitely will or may shop on Thanksgiving, Black Friday, Small Business Saturday and/or Sunday, similar to the 61.1 percent who planned to last year and more than the 55 percent of holiday shoppers who said they did shop in stores and online over the weekend in 2014.
NRF’s 2014 Thanksgiving Weekend results Survey found 133.7 million holiday shoppers were in stores and online over the holiday weekend.
“The importance of Thanksgiving weekend to both retailers and consumers will never change. However, retailers have already given consumers several good reasons to start their holiday shopping earlier,” said NRF President and CEO Matthew Shay. “We suspect early holiday shoppers could still be on the fence about whether or not to try their hand at finding online and in- store deals Thanksgiving weekend.”
“To make it even easier on holiday shoppers this year, we expect retailers will offer exclusive savings each day of the big weekend, including Thanksgiving and Black Friday-only deals and even extended Cyber Monday promotions throughout the week that follows,” continued Shay. “But this weekend isn’t the end-all-be-all; it’s important to remember, there will be several important weekends to keep an eye on before we wrap up the holiday season.”
Of those who plan to or are anticipating they may shop online or in store over the weekend, most will shop on Black Friday (73.5% vs. 68.2% from NRF’s preliminary survey in 2014), though 22.3 percent say they are eagerly anticipating retailers’ Thanksgiving Day deals, compared to 18.3 percent in NRF’s preliminary 2014 survey. Saturday is often overlooked because it’s sandwiched between Black Friday and Cyber Monday, but the numbers speak for themselves: 49 percent of those surveyed say they will shop in stores and online on Saturday, up from the 42.9 percent in last year’s preliminary survey. One in five (23.1%) say they will or may shop on Sunday.
NRF also asked those Saturday shoppers if they would specifically shop for Small Business Saturday: the survey found 22.3 percent said they would and 54 percent say maybe.
And for the first year NRF asked about plans to shop on Cyber Monday. According to the survey 79.6 percent – or a potential 183.8 million unique shoppers – said they would or may shop on Cyber Monday.
Millennials love Thanksgiving Day, Black Friday, Small Business Saturday and Cyber Monday Shopping
When it comes to holiday celebrations over the Thanksgiving weekend, it is clear millennials are still quite interested in being a part of the shopping experience. According to the survey 77.8 percent of 18-24 year olds and 77.4 percent of 25-34 year olds said they definitely will or may shop online and in stores over the Thanksgiving weekend.
“Millennials love shopping in stores and online over Thanksgiving weekend for several reasons, including the opportunities afforded to them that allow them to splurge on ‘non-gifts’ for themselves and even the potential to sleep in on Black Friday after having spent the night before bouncing from store to store,” said Prosper’s Principal Analyst Pam Goodfellow. “For these adults, it’s less about making room for pumpkin pie and more about going out with friends, checking out the deals through their mobile phones and experiencing retailers’ night owl hours and perhaps making a dent in their shopping lists.”
“Given how shoppers today overall gravitate towards all things digital, there’s a high likelihood online shopping will be bigger than ever over the holiday weekend and on Cyber Monday,” continued Goodfellow.
Although the entire weekend is seen as one big social experience, Black Friday is expected to be the biggest day for these age groups. Of those millennials who will or may shop over the holiday weekend, the survey found 84.3 percent of 18-24 year olds and 80.2 percent of 25-34 year olds say they will shop on Black Friday. One-quarter (25.4%) of 18-24 year olds will or may shop on Thanksgiving Day and nearly one-third (32.7%) of 25-34 year olds will make room for shopping after turkey and dessert.
Twenty-five to 34 year olds also seem to be more likely to specifically support Small Business Saturday: 34.7 percent of those who are planning to or may shop on Saturday will specifically shop to support small businesses over the weekend.