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The official start of the holiday shopping season is just a few days away. Millions of consumers have reported they will be out and about this weekend looking for holiday deals. The National Retail Federation (NRF) conducted a survey to gauge public interest in holiday shopping this year. The results indicate that many consumers who have cut back on spending throughout the year are gearing up for holiday shopping this weekend. Traditionally known as the kick-off to the holiday shopping season, the day after Thanksgiving otherwise known as Black Friday is considered one of the busiest retail shopping days of the year.

Results of the survey indicate the following:

  • Of the 134 million consumers who indicated they might venture out this weekend, 57 million have definite plans to shop while 77 million will wait to see what deals are offered before they decide.
  • Roughly 66% of consumers plan to shop at discount stores with 62.4% saying they will spend money at department stores.
  • Twenty-seven percent of consumers plan to shop online this weekend.
  • Over 25% of shoppers intend to hit the stores in the early morning hours to take advantage of early-bird specials with 10% willing to shop between 12am-3am Friday.

The results of this survey and others indicate that consumers are feeling slightly more confident this holiday season versus the past two years. Although consumer confidence is up, retailers are still concerned that a successful holiday season might not be enough to make up for poor sales in recent months. Many consumers have cut back on spending as a result of the recession. Unemployment, the continued rise of living expenses and the lack of available credit have impacted how and where people are spending their money.

It would appear that consumers are willing to spend more money this year, however there are no signs of the excessive consumerism we have seen in the past few decades. If you are heading out this weekend, you can expect plenty of company and packed stores, nevertheless you will not see the same number of people as you did in the late 90’s through 2005.

Consumers are reminded that many manufacturers have reduced production this year, therefore if you see a great deal, you might do well to purchase it rather than waiting to see if you get a better deal later in the season. This year it is more likely that early shoppers will have the best choice of inventory and discounts versus those who wait until the last minute to purchase gifts.



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