According to a new survey from Deloitte, three-quarters of Americans plan to shop over the Thanksgiving holiday weekend, spending an average of $427 between Thanksgiving Day and Cyber Monday.
The average spend is up from $400 in last year’s survey. Among consumers planning to shop over the Thanksgiving weekend, Deloitte noted that more respondents said they would shop online, at 28%, than in stores, 25%, on Thanksgiving Day. As for rationale, 73% of respondents who plan to shop on Thanksgiving said it’s because they don’t want to miss the best deals.
Black Friday remains important, as 70% of respondents indicated that they plan to shop in-stores. However, fewer respondents said they plan to shop online, at 47%, as compared to last year, 55%. The trend should continue through the weekend, as 52% of consumer said they plan to shop in-store Saturday, compared with 24% online.
Despite that, shoppers noted that they expect to spend, on average, 52% of their holiday weekend budget online and 46% in physical stores. About 72% of respondents said they plan to shop online on Cyber Monday.
Regardless of where people shop, 38% of consumers expect to buy something online while in-store due to better pricing and/or price matching, and 36% said they would be influenced by deals from a mobile device while in store over Thanksgiving weekend.
“Consumers are gearing up to increase spending, and while online is expected to pull more of shoppers’ budgets, there is still a healthy outlook for traffic in the stores, particularly on Black Friday,” said Rod Sides, vice chairman, Deloitte LLP and U.S. retail, wholesale and distribution leader.