Physical retailers had much to give thanks for over Thanksgiving and Black Friday. Nearly half (48 percent) of U.S. adults visited a shopping center over the two-day period, according to ICSC Research. Seventy-one percent of Thanksgiving/Black Friday shoppers purchased merchandise in physical stores. That rises to 87 percent when shoppers who visited physical stores are combined with those who used physical store websites over the two days.
READY TO SHOP Mall of America, in Edina, Minn., kicked off Black Friday morning with 2500 people lined up outside its doors, eagerly waiting for the door opening celebration at 5 a.m.
In more good news for the retail industry, 74 percent of Thanksgiving/Black Friday shoppers said they spent the same or more this year than last.
“Thanksgiving weekend is a great indicator for what will be a holiday season full of spending, as we are seeing a very positive consumer sentiment and willingness to spend,” said Tom McGee, president and CEO of ICSC. “Shopping centers across the country should feel very optimistic about the season ahead. While the shopping season is longer this year, it’s not coming at the expense of the most popular shopping day of the year.”
“Shopping centers across the country should feel very optimistic about the season ahead. While the shopping season is longer this year, it’s not coming at the expense of the most popular shopping day of the year.”
Nearly one-third (32 percent) of Thanksgiving/Black Friday shoppers indicated spending more in stores this year compared with 2016. Based on expenditure, 52 percent of Thanksgiving/Black Friday shoppers’ total spending on goods took place in physical stores, according to ICSC. Combining this with what shoppers spent on physical stores’ websites, the expenditure on goods at retailers with stores rises to 76 percent overall. Among those who ordered online and picked up in store, 69 percent bought additional items when they were in the store to collect their stuff.
Among shoppers visiting shopping centers over Thanksgiving Day and Black Friday, 46 percent dined, 21 percent watched a movie, 13 percent contributed to charities, and 11 percent had their child’s picture taken with Santa.
“As malls and shopping centers evolve, the ways in which the consumer experiences shopping continues to change as well,” McGee said. “What we are seeing over the course of the year, and more so during the holiday season, is consumers’ desire to take advantage of everything a mall has to offer whether that is dining, shopping or entertainment.”
By Edmund Mander
Director, Editor-In-Chief/SCT