Consumers are geared up for the Thanksgiving shopping days, according to a special national consumer poll of 1,000 households that was commissioned by the International Council of Shopping Centers, Inc. (ICSC) and Goldman Sachs (GS) and conducted between October 31 and November 3, 2013. With more retailers opening their doors on Thanksgiving Day, 13% of U.S. consumers plan to shop on that day. However, a hefty 46% of consumers plan to shop on Black Friday (November 29), as the day continues to be the prime focus for the bargain-conscious consumer. The weekend following Black Friday is likely to be busy as well, with 34% of consumers expecting to shop. Cyber Monday (December 2) also pops up as an important shopping day with 42% of consumers planning to shop online during that day.
Michael P. Niemira, vice president of research and chief economist for ICSC, observed, “The pilgrims celebrated the nation’s first ‘thanksgiving’ with a three-day feast in 1621—some 240 years before it became a national holiday. Today, consumers plan to mark that event with family gatherings to share holiday meals, prayers, parades, sporting events and family fun, with about two-thirds of those consumers planning to shop over the five-day period between Thanksgiving Day and Cyber Monday.” Niemira further observed, “The expansion of the Thanksgiving bargain-shopping days to include Thanksgiving Day and Cyber Monday has transformed this period with more intensive shopping planned for Black Friday this year than at any time since at least 2009 when this survey began.”
The ICSC-GS survey also found that bargain-priced holiday gift buying is the chief motivation to be shopping on Black Friday, but some 27% of consumers who plan to shop that day are primarily looking for bargains—not holiday gifts.
Looking at the consumer profile of those likely to be shopping on any of the Thanksgiving days (Thanksgiving Day through Cyber Monday), the survey reveals a relatively predictable pattern—the younger the consumer, the more likely that person will be shopping during the Thanksgiving period. The silent generation—those born between 1928 and 1945—are the least likely to be shopping during those days, while 73% of generation X (born between 1965 and 1980) and 84% of generation Y (born between 1981 and 1993) are likely to be shopping.
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 60,000 members in over 90 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world. For more information, visit www.icsc.org .
Be sure to check out the WE Magazine for Women 2013 Holiday Gift Giving Guide. Shop from home, office or anywhere! http://www.staging.wemagazineforwomen.com/we-magazine-2013-holiday-gift-guide-is-here/