Executive Briefings

Report Says Shoppers Expect Better Deals to Come in December

The 2016 International Council of Shopping Centers (ICSC) Thanksgiving/Black Friday Shopping Report shows that three quarters of Americans spent the same or more this year than last year, and 44 percent of that spend was on gifts for other people. Americans shopping on Thanksgiving and/or Black Friday spent an average of $373, including approximately $100 on dining and entertainment in a shopping center.

Omnichannel retailers benefited the most with 89 percent of shoppers spending at stores with both a physical and an online presence, according to the report. Further, 80 percent of spending took place with retailers that have a physical presence, whereas only 18 percent occurred online with pure play retailers. For those shoppers who purchased online and picked up the item in the store (28 percent), 64 percent went on to buy something else when they collected their purchase. This is an increase of six percentage points, year-over-year.

Although the popular Thanksgiving retail weekend has passed, many shoppers expect the best is yet to come with regards to shopping deals and steals. When asked for their predictions for December: 61 percent anticipate similar deals/promotions; 29 percent of consumers say they think the deals/promotions in December will be better than what was found over the past weekend; 10 percent expect the deals/promotions won't be as good.

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Omnichannel retailers benefited the most with 89 percent of shoppers spending at stores with both a physical and an online presence, according to the report. Further, 80 percent of spending took place with retailers that have a physical presence, whereas only 18 percent occurred online with pure play retailers. For those shoppers who purchased online and picked up the item in the store (28 percent), 64 percent went on to buy something else when they collected their purchase. This is an increase of six percentage points, year-over-year.

Although the popular Thanksgiving retail weekend has passed, many shoppers expect the best is yet to come with regards to shopping deals and steals. When asked for their predictions for December: 61 percent anticipate similar deals/promotions; 29 percent of consumers say they think the deals/promotions in December will be better than what was found over the past weekend; 10 percent expect the deals/promotions won't be as good.

Read Full Article