Sixty-six percent of survey respondents plan to go shopping on Black Friday this year. Last year, only 55% planned to venture out to the stores on Black Friday. And people don’t just plan to shop in brick-and-mortar stores, either. Thirty-seven percent said they’d shop online, compared with 32% in 2013.
More and more stores are open for business on Thanksgiving Day itself, and 45% of folks said they would head to the store for some holiday shopping after their turkey dinners. Last year, only 38% had plans to shop on Thanksgiving Day. Stores that aren’t open on Thanksgiving Day often open in the wee hours of Black Friday, and of the respondents who said they would go shopping on Thanksgiving, 47% said they’d hit the shops between 6pm on Thursday and 5am on Friday.
When asked about their plans for holiday spending this year as compared to last, 25% said they planned to spend more. The average amount people plan to spend this season is $718. People planning to spend more may be motivated by having a little more money this year than last or because they feel sure of their standing at work; 28% of those with plans to spend more said their disposable income has risen since last year, and 22% said they have more job security this year.
Gift Cards Popular
Even if they have more income, more job security, and plan to dig deeper into their wallets this year, people still can’t resist a sale. Ninety-six percent of those surveyed said that their buying decisions would be influenced by discounts. Twenty-nine percent said that items would have to be discounted by at least half in order to convince them to buy.
Once the domain of those who couldn’t think of what to give loved ones, gift cards are now a perennially popular option. Fifty-seven percent of shoppers said they would be buying gift cards this year, making them the number-one item on shopping lists. This is good news for retailers, who often see more profit when those cards are redeemed. That’s because people are more likely to spend a little more than the amount on the card, rather than leaving a small balance on the card.
The Accenture Holiday Shopping survey was conducted online in September 2014 and answered by a representative sample of 500 people across the United States.
Read Also Related News
Tis the season to spend money we may not have on things we may not need. As the winter holidays approach, many kids are preparing their letters to the North Pole and dreaming of the presents they hope will be under the tree on Christmas...
Rotating rewards credit cards are popular with consumers because every quarter, they offer bonus cash back in a different set of spending categories. Usually, this means extra rewards when spending on gas, at department stores, or when...
If you and your partner find yourself at odds over finances, join the club. Money is the number one thing couples fight about according to therapists and relationship experts. But just because it’s common, doesn’t mean it can’t be...
I need a credit card with a 0% APR to consolidate several of my credit cards into one payment. Please advise what card I can apply.
There are special credit cards that allow consolidation of other cards’ debts - the balance transfer credit cards. These cards usually come with a 0% intro APR on balance transfer offer. The zero introductory period varies, but as a rule it is between six months and two years. So you can find a credit card with...
The easiest way to find out if you have credit accounts under your name is to request a copy of all your three credit reports: Experian, Equifax, and TransUnion. The reports contain information about active credit accounts, its issuers, and the information about credit accounts balances. If you want to protect yourself...
To set a PIN on your credit card, you should call the credit card issuer at the number on the back of your credit card and request your PIN. After that, the issuer will mail to you your PIN. In the meantime, if you need cash, you can go to a bank office and present your credit card and picture ID.
The overall process of getting a credit card can take up to 30 business days. To know the status of your credit card applications you should contact the credit card issuer. A quick online search for the bank or credit card issuer's name should turn up a customer service phone number or email address. Banks and credit card...