Spending to jump 25% Thanksgiving weekend

Black Friday and Thanksgiving weekend spending is expected to be strong—weekend sales are expected to climb 25 percent—and more consumers will shop online than in-store for the first time.

Consumers who plan to shop over the Thanksgiving weekend expect 59 percent of their spending to be online, up from 52 percent last year, according to a new survey from Deloitte. This compares to 36 percent who plan to shop in stores, down from 45 percent in 2014.

Black Friday now surpasses Cyber Monday as the most popular online shopping day that weekend. Two-thirds (66 percent) of those shopping over the holiday weekend plan to do so online on Black Friday, compared with 52 percent on Cyber Monday.

Just 44 percent of weekend shoppers plan to visit stores, a 19 point decline in just three years.

More shoppers are turning to digital sources to look for weekend deals. Three of the four top places consumers expect to obtain information about Black Friday sales include retailer websites (62 percent), websites dedicated to featuring Black Friday deals (58 percent), and emails (38 percent).
 
"The digital influence is likely to touch nearly every moment in the shopper's journey this holiday season," said Rod Sides, vice chairman at Deloitte LLP and retail and distribution practice leader. "With nearly 90 percent of respondents planning to go online at some point during the upcoming holiday weekend, digital retailing is about more than an online transaction.

"Mobile and online tools that are fit for the shopper's purpose—like product information and availability or tailored promotions—can influence where that customer shops and what they buy before they head to the store. Retailers should aim to win the customer while they're making their lists at home, because once someone arrives at the store, it's often too late to inspire them."

Retailers, it seems, have been successful in educating shoppers about omnichannel features: 50 percent of shoppers expect Black Friday deals to be comparable in-store and online.

For more:
-See this Deloitte report

Related stories:
Walmart starts Cyber Monday on Sunday
Walmart's omnichannel holiday strategy
Walmart, Toys R Us most expensive for toys
Holiday Web traffic peaked on Cyber Monday 2014
Best online deals to hit Thanksgiving Day

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