33 million will shop on Thanksgiving Day
Philadelphia – Pennsylvania Real Estate Investment Trust, a real estate investment trust specializing differentiated retail shopping malls, announced the results of a study that examines holiday spending plans among more than 2,000 U.S. adults.
According to the PREIT survey, 85% of Americans plan to increase or maintain their overall holiday gift spending on apparel, electronics, home goods and gift cards this year. Of those who plan to spend more, 15% plan to increase spending on electronics, 14% plan to purchase more gift cards, 13% will spend more on apparel and 10% will spend more on home goods.
Of those who plan to spend less on apparel/electronics/home goods/gift cards this holiday season, 49% say they have less income this year than last. Forty-three percent want to go into less debt. Thirty-eight percent are concerned about higher retail prices and 12% are worried about job security. Another 19% fear government uncertainty will harm the economy overall and 10% are worried the government might shut down again.
Focusing on the Thanksgiving-Black Friday weekend, which falls late this year, a preliminary National Retail Federation survey reveals that up to 140 million people plan to or will shop this Thursday through Sunday, a slight decrease from the 147 million who planned to do so at this time last year.
The NRF survey also revealed that nearly 33 million shoppers plan to shop on Thanksgiving Day. Of those who plan to shop on Thanksgiving Day this year, seven in 10 said they shopped online and in stores on Thanksgiving in 2012.
Black Friday will be the biggest day of the weekend: 69.1% plan to shop on Black Friday, or approximately 97 million shoppers. Additionally 43.8% will shop on Saturday (61 million) and 24.2% will shop on Sunday (34 million).
When it comes to keeping up with retailers’ holiday promotions, the classic advertising circular wins, with half of shoppers (49.1%) scouring newspapers for information about upcoming sales events. However, many people are still very much tuned into retailers’ digital news: 33.5% will look for special emails from retailers, 27% will follow retailers’ websites and 21.9% will visit coupon websites to look for deals.
The NRF 2013 holiday spending survey polled 6,201 consumers and was conducted for NRF by Prosper Insights & Analytics from Nov. 1-7, 2013. The consumer poll has a margin of error of plus or minus 1.3 percentage points. Preliminary survey results only compare to preliminary results released prior to Thanksgiving weekend in 2012. NRF will release actual shopping results on Sunday, Dec. 1 by 2:00 p.m. ET.
The PREIT survey was conducted online within the United States by Harris Interactive from Nov. 8-12, 2013 among 2,044 adults ages 18 and older.