Deloitte: Consumers Ready To Spend Thanksgiving Weekend

According to Deloitte, 76% of Americans plan to shop over the Thanksgiving holiday weekend.

The market research company indicated that consumers plan to spend $400 between Thanksgiving and Cyber Monday, up from last year’s intentions to spend $369.

Shoppers expect to spend more than 51% of their budget online and 46% in physical stores. The company asserted that 84% of respondents plan to shop in-store over the holiday weekend and 87% plan to do so online, as 71% said they find comparable deals online and in stores between Thanksgiving Day and Cyber Monday.

In between, 79% of survey respondents told Deloitte that they plan to shop on Black Friday, either in stores or online, with 69% saying they plan to head to stores and 55% saying they intend to shop online. On Cyber Monday, 74% of respondents said they plan to shop online.

As for how they will approach shopping, 63% said they plan to webroom, or look at items online then purchase in the store, and 44% will showroom, or go to the store to look at an item and then buy it online.

Still, 69% of consumers told Deloitte they wouldn’t be motivated to shop on Thanksgiving Day because it’s important to spend time with family and friends, and 67% disagree with stores being open on Thanksgiving. However, 22% of respondents said they plan to shop in stores on Thanksgiving Day.

“The vast majority of shoppers indicate they’ll head both online and to the stores over the Thanksgiving holiday weekend, and nowadays, they really look at those experiences as one. While digital and physical tactics should work in concert, it’s critical that retailers’ digital influence fits specific purposes and shopping days this week. Before Thanksgiving, the experience should be informational and inspirational, to influence the consumer in the research phase. Black Friday requires nimble and feature-rich mobile formats while people browse reviews and compare information at the point of purchase. Cyber Monday is purely transactional, where features like prices, free shipping and online return policies move into focus,” said Rod Sides, vice chairman, Deloitte LLP and U.S. retail, wholesale and distribution leader.