Over Thanksgiving weekend, 61.1 percent of Americans, 140.1 million, plan to shop, according to NRF's Thanksgiving Weekend Expectations survey, conducted by Prosper Insights & Analytics.
Expectations are similar to last year's results of 140.3 million. Specifically, 29.5 percent of shoppers say they will go out and purchase, and 31.6 percent will wait to see if deals are worth it before they make a purchase, up 2 percent from 2013.
"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. We are positive retailers have a few tricks up their sleeves that will draw their customers to their stores and websites, deciding the deals are worth it after all."
Of those who will shop, 18.3 percent will check out retailers' Thanksgiving Day deals, down from 23.5 percent last year. And 74 percent of consumers who plan to shop on that Thursday said they shopped on Thanksgiving last year.
In addition, 68.2 percent will shop on Black Friday, 42.9 percent will shop on Saturday and 21.6 percent will shop on Sunday. Nearly three-quarters of those surveyed said they will or may shop for Small Business Saturday.
Nearly eight in 10 customers between the ages of 18 and 24 years old will or may shop over the weekend.
"For younger shoppers, shopping on Thanksgiving and Black Friday is as much a social experience as it is a buying mission," said Prosper's Principal Analyst Pam Goodfellow. "While these shoppers may not have the biggest holiday budgets or the longest shopping lists, they still enjoy the 'tradition' of heading out with friends and family on two of retail's most exciting shopping days."
Deals are an important must for shoppers of all ages as 68 percent of consumers believe the country is still in a recession, according to NRF's holiday shopping predictions. In search of the best bargain, shoppers are holding out until Thanksgiving weekend and late in the season. In fact, 45.6 percent of holiday shoppers haven't started shopping yet. That number is only slightly up from 2013, in which 46.2 percent of consumers, the lowest in the survey's seven-year history, had not begun shopping at this point.
-See this NRF press release
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