Thanksgiving Shopping Numbers Expected to Drop Slightly
Industry observers expect 140 million people to do holiday shopping over the four-day Thanksgiving weekend, down from 147 million last year.
Despite a shorter-than-usual holiday season this year, industry observers expect up to 140 million people do do their holiday shopping, both in-person and online, during the upcoming, four-day-long Thanksgiving break.
A preliminary shopping survey by the National Retail Federation notes that number is down from 147 million last year.
The NRF also asked those polled if they planned to take advantage of the Thanksgiving Day shopping hours that stores like Wal-Mart (NYSE:WMT), Sears (NASDAQ:SHLD), Best Buy (NYSE:BBY) and others plan to offer this year; with 23.5 percent of respondents, or an estimated 33 million shoppers, saying yes.
“As the official kick off to the holiday season, retailers are prepared to pull out all the stops for their online and store shoppers,” NRF President and CEO Matthew Shay said in a press statement, “including offering sweepstakes with cash prizes, free gifts with purchase and even exclusive opportunities to score top gift items before everyone else.”
Black Friday is still expected to remain as the biggest shopping day of the holiday weekend. More than 69 percent of those polled, or about 97 million people, are expected to make their purchases then.
Online shopping, meanwhile, continues to gain in popularity with consumers. Shop.org's eHoliday survey reports more than half of the retailers surveyed plan to start their online holiday promotions at least five days before the Thursday-through-Sunday Thanksgiving weekend – with 53.5 percent saying they plan special promotions on Thanksgiving day.
As for where consumers will actually shop, Accenture's (NYSE:ACN) annual holiday shopping survey reports 42 percent of consumers plan to do at least half of their holiday shopping online. Accenture also says a high number of consumers, 65 percent, expect to “webroom” – that is, browse for gifts online and then make their purchases in brick-and-mortar stories – in order to avoid shipping costs.
Below, find some more great ETF and market content from Benzinga:
Why Can't the Dow Close Above 16,000?
Apple Might Increase the Price of the Upcoming iPhone 6
Five Star Stock Watch: Groupon, Inc.
Benzinga Pro covers this and all market news in real time. Get your free trial here.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.