Many early deals have been eye-popping
of ConsumerAffairs
Shoppers who have been paying attention know that major retailers have already thrown out some eye-popping holiday deals, well in advance of Black Friday.
Last week, Walmarts early Black Friday deals offered discounts of 50% or more on hundreds of gift items. Days later Amazon introduced Amazon Haul, not exactly a holiday promotion but an offer of crazy low prices, just in time for the holidays.
The National Retail Federation predicts the deals are just getting started. It released its annual holiday shopping survey, projecting that a record 184.3 million Americans will shop this season, in spite of complaints about high prices. It turns out the prices are as high as they used to be.
Even though holiday shopping continues to pull forward, some of the busiest shopping days of the year are during the five-day Thanksgiving weekend, NRF Vice President of Industry and Consumer Insights Katherine Cullen said.
Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season.
Five big shopping days
NRF said it expects a lot of the shopping will take place during the five days from Thanksgiving Day to Cyber Monday. It said 57% of the consumers in the survey said the deals are just too good to ignore.
While consumers will likely spread their shopping across channels throughout the five-day holiday weekend, the NRF survey found that Black Friday remains the most popular day to shop, with 72% (131.7 million) planning to head out to stores or shop online.
About two-thirds of Black Friday shoppers expect to specifically shop in stores that day. Cyber Monday is the second most popular day, attracting 39% of those planning to shop.
Younger shoppers are most likely to take advantage of Thanksgiving weekend deals this year, with 89% of young adults between 18-24 planning to shop over the weekend, said Phil Rist, an executive with Prosper Insights & Analytics, the firm that conducted the survey.
The social aspect of holiday shopping is also enticing to this age group, and they are most likely to shop because its a group activity that can be enjoyed with friends and family.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-11-18 02:23:32
