Mini | ShopTalk | Who’s shopping on Thanksgiving Day?
Retailers staying open for business on Thanksgiving Day is a relatively new phenomenon. Despite the potential of increased holiday shopping revenue, some retailers are forgoing Thanksgiving hours for reasons ranging from employee well-being to operational cost savings.
So who’s shopping on Thanksgiving? And why? Vantiv and Socratic Technologies teamed up to take a closer look. Here’s what a survey of 500 consumers found.
Thanksgiving Day is the least popular day to shop
Only 20% of respondents plan to shop on Thanksgiving Day followed by Black Friday (31%), Thanksgiving weekend Sat/Sun (34%), and Cyber Monday (39%)
Why shop on Thanksgiving Day?
46% are there for the bargains, 45% enjoy the excitement, and 38% are there because it’s tradition
The majority of respondents wait until December
45% plan to shop during the week leading up the holiday
Millennials are the generation most likely to shop on Thanksgiving Day
34% of Millennials plan to shop on the holiday
Stay tuned for Part 2 that talks shopping budgets, gift card purchases, and go-to payment methods this holiday season. See more research on consumer purchase behavior.