Consumers are ready to spend, spend, spend this Black Friday and holiday season, and phooey to those who complain about working on Thanksgiving, a new survey suggests.
Consulting firm Accenture surveyed 1,537 U.S. shoppers online in September and October and found that 40 percent plan to spend more than last year. This is up from the 25 percent who said the same in 2014.
Although many retailers are taking a stand and keeping doors shut this Thanksgiving, 50 percent of consumers still plan to shop that day, a jump of 5 percent compared with last year. In fact, only 28 percent said they believe Thanksgiving should be spent with family versus holiday shopping, which is down from 32 percent in 2014 and 41 percent in 2013.
Forty-two percent will do this Turkey Day shopping online, while 40 percent plan to hit the stores.
Sixty-three percent said they will shop on Black Friday, with online and in-store shopping tied evenly at 42 percent each.
When it comes to promotions, email and in-store deals and coupons were the most attractive to consumers. Fifty-six percent said they prefer to be targeted proactively with discounts and deals, whereas 20 percent like to seek out deals.
Among benefits offered by retailers, 39 percent of shoppers plan to take advantage of competitor price matching on the spot, while only 18 percent will make use of layaway.
Unsurprisingly, showrooming and webrooming will be fierce this season, with almost 70 percent of respondents saying they will research products online before purchasing in stores. Reasons most given for doing so include: preferring to touch and feel the product before purchasing it (49 percent); wanting to make sure a product is in stock before going to the store to purchase (46 percent); and wanting to avoid shipping fees (42 percent).
While they’re in the store to pick up that item, 67 percent said they’re likely to buy additional items.
Those who prefer to stay home, meanwhile, are doing so because they want to avoid: long waiting lines and crowds (65 percent); faraway locations (35 percent); difficulty parking (34 percent); and lack of desired inventory (30 percent).
Fifty-three percent will use a smartphone or tablet to shop, although just 2 percent will use it as their primary method.
Social media will play a role this season, but likely only for those within the 18 to 44 age bracket.
“While we know consumers value content and social media that reflect their lifestyles, our research shows us that social media has very little influence on the purchasing decisions of those aged 45 and over,” said Walker. “The younger shoppers who are influenced by social media mostly like to see what’s trending and what others are buying,” said Walker.
