ICSC Thanksgiving Weekend Intentions Survey Reveals Consumers Are Planning to Spend $108.5B Over Black Friday and Cyber Monday Weekend
Consumers are preparing for Thanksgiving Weekend with careful enthusiasm, as the new ICSC Thanksgiving Weekend Intentions survey found that 86 percent of consumers are expected to shop in the period beginning Thanksgiving Day and ending on Cyber Monday. On average, shoppers are projected to spend an average of $491 over the course of the weekend. Retailers capable of meeting consumer shopping, purchasing and delivery demands, both online and in-person, will be best positioned for success during the holiday shopping season.
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“Black Friday promotions also began early this year and will be front and center throughout the holiday weekend as consumers look for deals and prioritize getting the best price on their purchases.”
Shoppers are utilizing in-store visits, online retailer websites, social media platforms and trusted product recommendations and reviews to help make more informed shopping and purchasing decisions throughout this extended holiday shopping season. Key factors for shoppers deciding where they will shop and make purchases over the Thanksgiving weekend include deals and promotions (36 percent); availability of products (31 percent); and variety of products and styles (22 percent).
“The holiday shopping season started early this year and we expect a busy Thanksgiving weekend with consumers looking for gifts and personal items,” stated Tom McGee, ICSC President & CEO. “Black Friday promotions also began early this year and will be front and center throughout the holiday weekend as consumers look for deals and prioritize getting the best price on their purchases.”
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While Black Friday remains a more in-store event, Cyber Monday offers shoppers an extra shopping day with bonus online-only sales and deals for savvy shoppers. Many retailers run promotions throughout the entire weekend, providing plenty of opportunities for people to find the best deals.
ICSC’s survey also reveals how consumers are planning to shop each day of the weekend. On Thanksgiving Day 49 percent of those shopping that day will do so at physical stores and 51 percent will only shop online. On Black Friday, 73 percent of shoppers that day plan to shop either online or in-store. Cyber Monday will see 81 percent of those shopping that day making their purchases online.
Malls and shopping centers continue to be hubs of activities where people gather to shop, dine, play and celebrate holiday traditions and festivities. While visiting malls and shopping centers this holiday season, 59 percent of visitors plan to shop; 47 percent will dine at a restaurant; 24 percent will go to a movie; and 15 percent will have a child’s picture taken with Santa.
“The holidays are about spending time with family, friends and loved ones and people are craving being together more than ever after the COVID disruptions of the past year and a half,” McGee added. “While shoppers will buy online from their homes, they will undoubtedly also take advantage of in-person shopping over the Thanksgiving weekend.”
Methodology
The ICSC Thanksgiving Intentions Survey was conducted online by Engine Insights on behalf of ICSC from November 12-14, 2021. The survey represents a demographically representative sample of 1,015 respondents.
