This Memorial Day offers retailers an opportunity to benefit from pent-up demand: 48% of Americans plan to shop for something over Memorial Day weekend this year, according to a survey by BlackFriday.com conducted through Kelton. Additionally, 37 million people are expected to travel 50 miles or more from home, an increase of 60% over 2020, according to AAA.
Clothing is the top category for Memorial Weekend, and 37% of shoppers plan to look for something to wear — likely a summer wardrobe, as vaccinated people start to make summer plans. Electronics was the second-most-popular category, with 34% of shoppers planning to make purchases, followed by home décor at 25% in the latest sign that the home improvement boom still has legs.
Retailers looking to offer top-notch personalization should consider that shopping plans differ by gender and location. Nearly half (46%) of women plan to shop for summer clothing compared to just 28% of men, and 30% of women will shop for home décor as opposed to 19% of men. In comparison, men are more focused on electronics than women, at 47% and 23% respectively. Potentially the most lucrative region will be the South, where 55% of shoppers plan to take advantage of holiday sales.
And while the projected number of holiday travelers this year is still six million fewer than in 2019, the increase represents a significant recovery from the depths of the pandemic — and a great opportunity for retailers who are prepared to cater to their needs.
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