Your email inbox is likely already filled with promotions from big-name retailers pushing Thanksgiving Day or Black Friday “doorbuster” deals online and in-store.
Welcome to the frenzy of the first big holiday shopping weekend which is no longer just focused on the traditional “Black Friday” sales, when businesses move from the “red” into the “black” in annual sales. The biggest retailers– Walmart, Target, Sears, Best Buy and other familiar chains — are opting to open before you digest your turkey dinner today.
According to National Retail Federation’s Thanksgiving Weekend Expectations survey, six in 10 (61.1 percent) of consumers say they will or may shop either Thursday, Friday, Saturday or Sunday, which equates to more than 140.1 million unique shoppers.
These projects are similar to last year’s preliminary survey results of 140.3 million.
More precisely, 67.6 million holiday shoppers (29.5 percent) say they will shop, down slightly from 69.4 million who planned to do so last year. And 72.5 million (31.6 percent) say they will wait and see if the deals are worth it before they decide, up 2 percent over last year’s 71 million “maybe” shoppers.
Here’s the breakdown for the weekend: More than two-thirds (68.2 percent) will shop on Black Friday (95.5 million), two in five (42.9 percent) will shop on Saturday (60 million) and one in five (21.6 percent) will shop on Sunday (30.3 million).
And then there’s Cyber Monday, promoted as the busiest online shopping day following the Thanksgiving holiday weekend.
Bright Outlook for Cyber Monday
Projections for this Cyber Monday, Dec. 1, are very optimistic. Desktop spending could surpass $2 billion, which will break another record for the largest online spending day ever, several online shopping analysts predict. Total spending (desktop and mobile could be close to $2.5 billion). Mobile sales will make up about 17 percent to 20 percent of total sales.
“Consumers today want more than just the discounts they’ve been showered with since the start of the recession; they want exclusive offerings and a good reason to spend their discretionary budgets,” said NRF President and CEO Matthew Shay. “We could witness a sea change this holiday season as consumers’ reliance on extremely deep discounts over the biggest shopping weekend of the year shifts to more of a ‘wait- and-see’ mentality around what retailers will be offering on Thanksgiving Day and Black Friday.”