E-commerce eats into Thanksgiving weekend crowds
New research from the National Retail Federation sheds light on how 140 million Americans plan to shop during the Thanksgiving weekend.
According to a new survey from the National Retail Federation, Black Friday will be the biggest day of the weekend: 69.1% plan to shop on Black Friday, or approximately 97 million shoppers.
In addition, 43.8% will shop on Saturday (61 million) and 24.2% will shop on Sunday (34 million). And, of those who plan to shop on Thanksgiving Day this year, seven in 10 (69.2%) say they shopped online and in stores on Thanksgiving in 2012. Roughly half (49.1%) will read newspapers for information about upcoming sales events. However, 33.5% will look for special emails from retailers, 27% will follow retailers’ websites and 21.9% will scour coupon websites to look for deals.
According to Shop.org’s eHoliday survey conducted by Prosper Insights & Analytics, half of retailers surveyed (51.1%) are planning to start their Thanksgiving weekend online promotions at least five days before the big weekend. Recognizing the growing trend among consumers to shop online on Thanksgiving Day, 53.5% of retailers say they will offer online promotions specifically for that day.
During the course of Black Friday weekend, retailers will tout a variety of offers, including special email campaigns (44.2%) and one-day sales (41.9%), but consumers will also benefit from free gift with purchase promotions (23.3%), free standard shipping on all purchases (20.9%), and discounted shipping (20.9%).
Tiffany financial chief resigns
Tiffany’s chief financial officer, Patrick F. McGuiness, has resigned his position effective Nov. 27. The company’s EVP and chief operating officer, James Fernandez, will assume the position of CFO on an interim basis.
Fernandez has been with Tiffany’s since 1983. The board of Tiffany’s has authorized a search for a new CFO.
McGuiness, who joined Tiffany in 1990 as an analyst in accounting and reporting, received a severance package worth $899,000 and will also receive a prorated performance bonus for the fiscal year ending Jan. 31, 2014. McGuiness will release any claims he might have against Tiffany as part of the severance agreement.
He held a variety of management positions within the company’s finance division, including as group VP of finance, and in merchandising from 2000 to 2002 as VP of merchandising process improvement. He was promoted to SVP of finance, responsible for Tiffany’s worldwide financial functions, in 2007. In June 2011, McGuiness was promoted to SVP and CFO and was assigned responsibility for investor relations in addition to his responsibility for worldwide financial functions.
OfficeMax to open at 8 p.m. Thanksgiving night
OfficeMax plans to open most of its stores at 8 p.m. Thanksgiving night. Meanwhile, its e-commerce site will begin offering online Black Friday deals at 12:01 a.m. EST Thanksgiving morning.
The OfficeMax Black Friday shopping event will take place for three days from Thursday, Nov. 28 through Saturday, Nov. 30 in stores and online. OfficeMax.com will also host a special online-only, pre-Black Friday sales event at 9 p.m. EST Wednesday, Nov. 27.
“We’re providing earlier hours, more ways to save and a flexible, convenient shopping experience for our Black Friday customers to help kick off the holiday season,” said Kim Feil, OfficeMax executive VP and chief marketing and strategy officer for Office Depot. “Whether they prefer to stay up late or shop early, shoppers will find big savings on a wide variety of technology products and accessories, and also great gifts and supplies for every home and business office on their list.”