Shoppers Hitting the Stores to Kick Off the Holiday Season
Black Friday is expected to see over 122 million adults at malls and
shopping centers across the country
NEW YORK–(BUSINESS WIRE)–Today, the International Council of Shopping Centers (ICSC) released its
2017 Pre-Black Friday Consumer Survey that maps out consumer
expectations for shopping over the Thanksgiving holiday weekend (Nov.
23-26). The survey reveals that 84 percent of shoppers expect to head to
stores over the Thanksgiving weekend and spend an average of $470.20,
which is more than half of their anticipated spend for the entire
holiday season.
Thanksgiving weekend shoppers intend to spend more this year than they
spent last year. Holiday gifts will lead in spending, with 82 percent of
shoppers planning to purchase for other people. But gifts aren’t the
only reason consumers will be heading to malls and shopping centers, 55
percent will dine and 36 percent will catch a movie.
Omnichannel Aids Consumer Spending
Throughout the year, ICSC has seen consumer preference for omnichannel
retailers increase and this Thanksgiving weekend proves to be a
continuation of that focus. That weekend, 93 percent of shoppers plan to
buy from omnichannel retailers and 43 percent will take advantage of
buying online and picking up in-store. The click-and-collect purchases
will result in additional purchases with 84 percent of those shoppers
buying more when picking up their items.
“Consumer optimism this holiday season is reflected in how people are
engaging in Black Friday,” said Tom McGee, President and CEO of the
International Council of Shopping Centers. “We believe retailers who
embrace omnichannel will see more success than their pureplay
counterparts. What’s clear is shoppers are eager to hit the stores to
kick-off a busy shopping season.”
Consumers Remain Price Conscious
Consumers are anticipating deals throughout the holiday season. During
the Thanksgiving weekend, however, this sentiment is heightened with 85
percent of shoppers expecting their holiday gift purchases to be
influenced by deals or promotions. Consumers will make purchases across
a vast array of stores but will focus the majority of their efforts
where they can get the most for their money.
- Discount department stores (93%)
- Dollar/Variety stores (68%)
- Off-price retail stores (63%)
“Consumers continue to do their research on products in order to seek
out the best price available,” added McGee. “We see all types of
retailers doing well this holiday season but those stores that allow for
a treasure hunt or a deeper discount will likely resonate most with
holiday shoppers.”
METHODOLOGY
The ICSC Holiday Intention Forecast Survey was conducted online by
Opinion Research Corporation on behalf of ICSC from November 2-5, 2017.
The survey represents a demographically representative U.S. sample of
1,026 adults 18 years of age and older.
The ICSC Holiday Forecast figure was derived using an exponential
smoothing time series model based on not seasonally adjusted monthly
retail sales less the automotive sectors and non-store vendors. The
forecast represents the combined November and December year-over-year
increase in nominal terms. The constituent retail categories were
calculated using the same technique.
ABOUT ICSC
ICSC serves the global retail real estate industry. We provide our
70,000+ member network in over 100 countries with invaluable resources,
connections and industry insights, and actively work together to shape
public policy. For more information about ICSC visit www.icsc.org.
Contacts
For ICSC
Stephanie Cegielski, 646-728-3572
scegielski@icsc.org
