As the closely-watched Black Friday weekend winds down, a National Retail Federation survey conducted over the weekend confirms the expected: more people spent less. According to NRF’s Black Friday shopping survey, conducted by BIGresearch, 195 million shoppers visited stores and websites over Black Friday weekend*, up from 172 million last year. However, the average spending over the weekend dropped to $343.31 per person from $372.57 a year ago. Total spending reached an estimated $41.2 billion.
“Shoppers proved this weekend that they were willing to open their wallets for a bargain, heading out to take advantage of great deals on less expensive items like toys, small appliances and winter clothes,” said Tracy Mullin, NRF President and CEO. “While retailers are encouraged by the number of Americans who shopped over Black Friday weekend, they know they have their work cut out for them to keep people coming back through Christmas. Shoppers can continue to expect retailers to focus on low prices and bargains through the end of December.”
Shoppers’ destination of choice over the past weekend seemed to be department stores, with nearly half (49.4%) of holiday shoppers visiting at least one, a 12.9 percent increase from last year. Discount retailers took an uncharacteristic back seat, with 43.2 percent of holiday shoppers heading to discount stores over the weekend and another 7.8 percent heading to outlet stores.** Shoppers also visited electronics stores (29.0%), clothing stores (22.9%), and grocery stores (19.6%). As millions of shoppers gear up for Cyber Monday, one-fourth of Americans shopping over the weekend (28.5%) were shopping online.
“In an economy like this one, every retailer wants to be a discounter,” said Tracy Mullin, NRF President and CEO. “Department stores have done an admirable job touting both low prices and good quality, which are important requirements for holiday shoppers on a budget.”
Cyber Monday Could Be A Different Story
As online retailers put the finishing touches on Cyber Monday promotions, the number of people who plan to shop on the Monday after Thanksgiving may surpass even their highest expectations. According toa survey conducted for Shop.org by BIGresearch, 96.5 million Americans plan to shop on Cyber Monday this year, up from 85 million in 2008.
“Americans appreciate the convenience of shopping online, which doesn’t require standing in line, circling for a parking spot, or even changing out of your pajamas,” said Scott Silverman, Executive Director of Shop.org.“Online retailers have been working overtime to make sure their Cyber Monday promotions are enticing, so shoppers can expect incredible bargains on popular holiday items, percentages off entire websites, and a lot of free shipping.”
A survey released last week found that nearly nine in ten (87.1%) retailers willhave a special promotion for Cyber Monday, up from 83.7 percent last year and 72.2 percent in 2007. The most popular promotions are expected to be specific deals (42.9%), one-day sales (32.9%), and free shipping on all purchases (15.7%). Half of retailers (50.0%) will distribute promotions and deals to shoppers through a special Cyber Monday email.
Whilesome Cyber Monday shoppers will choose to shop from the office, thelarge majority will shop from living rooms and kitchens all across the country.* According to the survey, 91.5 percent of Cyber Monday shoppers – or 88.2 million Americans – will shop from home on Cyber Monday while 13.5 percent, or 13 million people, will shop from work.(A Shop.org/BIGresearch survey released last week estimated that 69 million Americans would shop from work at some point during the holiday season.)
As Americans embrace the latest technology, 3.8 percent of Cyber Monday shoppers will shop from a mobile device like an iPhone or a Blackberry. In addition, a small fraction of shoppers (1.5%) said they will shop from another location like a coffee shop or a friend’s house.
About the Survey
The survey, conducted Nov. 26-28, 2009 by BIGresearch for NRF, polled 4,985 consumers and has a margin of error of plus or minus 1.4%. BIGresearch is a consumer market intelligence firm that provides unique consumer insights that are gathered online utilizing very large sample sizes.
BIGresearch’s syndicated Consumer Intentions and Actions survey monitors the pulse of more than 8,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.
The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees - about one in five American workers - and 2007 sales of $4.5 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations. www.nrf.com
Online sales seem to be doing great.