Black Friday may bring in less green this year
Retailers may see less green on Black Friday this holiday season as many shoppers vow not to brave the malls over the long Thanksgiving weekend since they can grab deals all year long.
Among consumers surveyed by the consultancy Accenture, more than half — 52% — said there was a greater chance they would skip scouting for presents the day af- ter Thanksgiving, the onetime busiest shopping day of the year.
Black Friday has become less of a force in recent holiday seasons as retailers offer so-called “doorbuster” deals — those with the deepest discounts — throughout the weekend. Then there is Cyber Monday, when deals on TVs and gadgets go online.
Some chains further the discounting streak by staying open on Thanksgiving itself. Many shoppers say they may skip those other peak shopping days as well. Half say they aren’t likely to leave their turkey feasts to shop, and 42% say Cyber Monday has lost some of its appeal.
Holiday shopping is a year- round event for 64% of those who responded to the survey. And among those who are less inclined to hit the mall on Black Friday, 64% said the crowds were the top turnoff, while 44% said they don’t have to venture out given the stream of bargains they can grab other days of the year.
“I don’t think any retailer should be looking at any one time to serve a consumer,” says Jill Standish, senior managing director and head of Accenture’s retail practice. “Can you grab them and have them remain loyal to your brand throughout the year? That’s really the trick.”
Only a third of shoppers expect to spend more on holiday items this season, down from 44% in 2016. Steeper gas prices were the reason 37% said they might spend less, while 31% said a higher grocery tab might depress their holiday spending.
But retailers might grab more sales if they make online shopping simple, with half of those surveyed saying a smoother experience when browsing with their smartphones or laptops is key to potentially boosting how much they spend.