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Retail Forecast For Thanksgiving 2017 In Comparison With 2016’s Analytics

By Eva Barnes , Nov 22 2017
Thanksgiving 2017

Featured Image: iStock/IrisImages

Recent reports state, that Thanksgiving in 2017 isn’t expected to reap up much profits for retailers, ecommerce stores or small businesses, in comparison to the seasonal sales they witnessed in the previous years. Even the tried and tested techniques businesses used to cash up on Easter and on other important holidays, would prove to be pretty much useless in this scenario.

The issues here aren’t of boring displays, substandard discounts or the inadequate branding, but the root cause is the consumers’ mindset.

According to the annual survey of BestBlackFriday.com, 83.78 percent of Americans are against or indifferent, towards the idea of stores being open on Thanksgiving. Below is a table, showcasing the opinion of Americans belonging to different age groups, on the issue of stores opening on Thanksgiving.

The Stance of Americans Regarding Stores Opening On Thanksgiving 2017
Age Group (years) Strongly favor or favor (%) Strongly dislike or dislike (%)
18-29 28.13 41.66
30-44 22.14 53.69
45-59 12.21 61.06
60+ 5.63 69.02

The number of consumers who disapprove the opening of stores on the holiday, have increased since last year, and here are the statistics to prove it.

The Stance of Americans Regarding Stores Opening On Thanksgiving 2016
Age Group (years) Strongly favor or favor (%) Strongly dislike or dislike (%)
18-29 35.81 34.26
30-44 14.96 58.27
45-59 16.31 57.45
60+ 8.0 65.6

However, these numbers are not set in stone, many of the consumers who are against the opening of stores, would end up shopping on the Thanksgiving weekend.

Nonetheless, the bleak views of the consumers on stores opening, has left its mark; more than 75 well-known retailers are expected to be closed on Thanksgiving Day this year, according to BestBlackFriday.com and DealNews.com.

Yet, what’s baffling are the views of Americans regarding holiday shopping, which are very different from those on stores opening. 69% of Americans, which is an estimated 164 million people, plan to shop during the Thanksgiving weekend, according to the National Retail Federation and Prosper Insights & Analytics’ annual survey.

The survey conducted by BestBlackFriday.com on the other hand, states otherwise…

64.29% have said that they do not plan to do any Thanksgiving shopping this year, which means only 35.72% actually plan to shop. While their last year’s survey stated that 60.28% of consumers did not plan to shop, leaving the 39.72% in 2016 who wanted to make at least one purchase. Stated below are the modes of shopping, which consumers plan to employ.

Mode of Thanksgiving Shopping
  2017 2016
Online (%) 13.32 13.57
In-Store (%) 11.20 14.37
Both (%) 11.20 11.78
     
Total Shoppers (%) 35.72 39.72

Related Article: How To Use Web Design Elements To Boost Holiday Sales

Also, you must have a look at the age-wise break-up of holiday shoppers – which includes the percentage of Americans who plan to shop on Thanksgiving and the percentage of those who will be spending at least a certain amount on their purchases.

Thanksgiving Shoppers by Age (2017)
Age Group (years) Planning To Shop (%) Minimum Spending of $251 (%)
18-29 55.21 37.51
30-44 42.28 34.23
45-59 30.53 29.76
60+ 20.42 20.43

Despite these statistics, what we should keep in mind right now is that, there is no way of determining the accuracy of these two forecasts (by BestBlackFriday.com and National Retail Federation and Prosper Insights & Analytics). Therefore, identifying which survey results are closer to the mark, can only be done after the Thanksgiving week ends, and the retail statistics roll out.

In the time being, you can ponder over the changes that occurred between 2016 and 2017, in regards to Thanksgiving shopping and retail statistics.

Thanksgiving Statistics
  2017 2016
Strongly in favor of stores opening 5.60%
In favor of stores opening 16.22% 17.96%
Strongly against stores opening 36.87% 37.72%
Against stores opening 57.53% 54.69%
Against stores opening (18 to 29 year olds) 41.66% 34.26%
Against stores opening (60+ year olds) 69.02% 65.6%
Indifferent to stores opening 26.25%

What are your thoughts on stores opening on Thanksgiving? Do you plan to go shopping on the Thanksgiving weekend? Comment below with your answers!

About The Author

Eva is a marketing major with a keen interest in web design. She is also an explorer and loves to dig into web trends from mobile apps to visual communication and everything in between. Feel free to send her your web design queries or blog related feedback in the comments below.

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