Despite some early negative reaction to stores opening on Thanksgiving, shoppers ultimately embraced the idea of an extended “Black Friday” and came out for a full weekend of spending, according to the Christmas & Holiday Shopping Forecast released by America's Research Group and Inmar.
More than 60% of consumers will start holiday shopping on Black Friday and most will spend more than 50% of their holiday budget over the Thanksgiving weekend, according to research by the Georgetown Institute for Consumer Research, sponsored by KPMG.
Almost half of Americans (46%) report they will spend less on the holidays than last year, with those living in the South more likely than any other region to say they plan to spend less this year at 55%.
Forty-one percent of respondents are expecting to make purchases in-store this holiday season more often than they did last year, which should make for a busy Black Friday, according to MasterCard’s 2013 Holiday Spending Survey.
Two-thirds of shoppers will spend the same amount of money (54%) or more money (12%) than they did last year. A new Consumer Reports poll also reveals that 33% will spend less money, similar to the 37% who said the same when asked last year.
Forty-three percent of respondents to Levin Management’s annual pre-holiday retail sentiment survey believe that their holiday sales will peak prior to and during the Thanksgiving/Black Friday weekend sales period.
Procrastinating is out this year when it comes to holiday shopping, with most consumers (62%) planning to finish their gift buying on or before Dec. 16, according to a survey by the International Council of Shopping Centers.
Continuing a two-year slide in retail spending momentum, American shoppers will generate only a lackluster 2.9% rise in holiday sales, according to Customer Growth Partners’ 13th Annual Holiday Forecast.