Brick-and-mortar stores such as Walmart, Kmart, Target, Best Buy and Sears are opening their doors to the public on Thanksgiving Day, and consumers appear to be taking advantage of this recent trend. More than one fourth (27%) of people shopping during Thanksgiving weekend say they will shop at stores open on Thanksgiving Day, according to the SAS Holiday Shopping Styles Report.
The survey of more than 2,000 holiday consumers revealed that 40% of respondents will shop at retail locations on Black Friday, with an additional 14% still on the fence. The number increases for online purchases, with almost half (49%) of consumers saying they will shop online on Black Friday and 53% planning to shop online on Cyber Monday. In total, 57% say their primary shopping will take place in the store, while 42% will make the majority of their purchases online.
The average holiday shopper is 46 years old, plans on spending $1,119 on gifts this holiday season and has a shopping list of 13 people. As much as 83% of this holiday spending total will go towards family members, according to the survey. More than one third (36%) of shoppers have more people on their holiday gift list than they did in 2013, while only 10% have less people to shop for. Shoppers plan on spending $299 on a holiday gift for their spouse or significant other, while spending approximately $115 per additional family member.
“This is a good sign for the economy, so retailers should take heart,” said Alan Lipson, Global Retail Industry Strategist at SAS. “Our research suggests retailers should target the budget-conscious shopper during the Black Friday weekend. Alternate promotions are in order as the season progresses. Effectively appealing to different consumer segments — especially during the holiday season, when consumers aren’t shopping for themselves – is a complex puzzle. Analyzing data is the only way to solve it.”
Consumers hope to receive gift cards (22%) this holiday season above any other gift they have on their list. Almost one in five (19%) would prefer to receive electronics, while 14% desire apparel and accessories. A subsection of shoppers (13%) actually want money as a gift so they can make purchases wherever they want.
Based on specific attitudes and shopping styles, the survey split the holiday shoppers into seven archetypes:
- Black Friday Warriors (21% of those surveyed/spend an average of $1,422) are classified as shoppers who stay in line waiting for a retailer to open on Thanksgiving;
- Budget Busters (11%/$1,132) shop throughout the holiday season and buy a wide variety of gifts for many recipients. They pay for convenience, exceed their planned budgets and find gift cards impersonal;
- Practical Shoppers (21%/$1,108) do all their shopping at once, make a list and stick to their budget;
- Perfect Gifters (19%/$1,056) like to give unique gifts and indulge people, and often finish holiday shopping before Thanksgiving;
- Cyber Shoppers (19%/$955) prefer to shop online at home to avoid holiday crowds. These shoppers often don’t know what they want to buy before they sit down with their computer, tablet or smartphone;
- Last-Minute Hopefuls (5%/$955) think waiting until the last minute will save money, and they often buy all gifts at once, including gift cards; and
- Humbugs (5%/$941) delay their holiday shopping for the last minute and have a general dislike for the holiday shopping environment. They won’t pay for convenience and tend to shun holiday sales.
Click herefor access to the survey results.