According to Deloitte’s Pre-Thanksgiving Pulse Survey, 79% of consumers plan to shop for holiday gifts between Thanksgiving and Cyber Monday, with more spending shifting online.
Of the consumers who plan to visit real and virtual stores in the Thanksgiving period, 94% will do at least some of their shopping online and 87% will do at least some in-store shopping. Survey respondents cited online retailers and mass-merchant stores as their preferred shopping channels.
The survey indicated that more than 40% of all Thanksgiving online spending would occur on Cyber Monday. Of consumers who plan to shop online, 72% said they would hit sites on that date. When it comes to those who plan to shop in-store, 70% said they would traverse sales floors on Black Friday and 26% of respondents said they would shop on Thanksgiving.
Generation X plans on spending the most during Thanksgiving period shopping, an average of $452, closely followed by Millennials at $446. Gen Z consumers will spend $335 on average. Boomers are looking to spend about $370 but seniors are going deeper into their pockets, intending to spend about $406. Overall, holiday shoppers plan on spending $415 on average.
Gen Zers lead all groups in heading to the stores on Black Friday, with 82% planning to do so, followed by 60% of Millennials.