Apparently, Black Friday is declining in its impact on holiday spending. According to PwC’s holiday outlook report, Black Friday is being “muted” by changing consumer behavior.
The report also found that shoppers plan to spend about $1,200 this year on gifts and items for themselves. The PwC data follows forecasts that vary widely, and show apparel sales coming in about flat this year.
PwC surveyed shoppers and found that “only 35 percent of consumers plan to shop on Black Friday this year — dropping a full 38.9 percent from 2015.” The researchers also found that 49 percent of shoppers said “they plan to finish their holiday shopping after Black Friday week.”
This compares to 19 percent of those polled who are shopping throughout Black Friday week and 10 percent who are shopping in “early November.” Six percent have either completed or planned to complete their shopping before Nov. 1.
“Although Thanksgiving and Black Friday still remain Pavlovian triggers for many consumers, shoppers don’t feel too pressured to ‘wrap’ things up just yet,” PwC said. “Especially in this age of dueling deals.”
Some of the shifts in holiday spending include more online shopping taking place on Thanksgiving Day. Other factors muting the impact of Black Friday
The report also found that shoppers plan to spend about $1,200 this year on gifts and items for themselves. The PwC data follows forecasts that vary widely, and show apparel sales coming in about flat this year.
PwC surveyed shoppers and found that “only 35 percent of consumers plan to shop on Black Friday this year — dropping a full 38.9 percent from 2015.” The researchers also found that 49 percent of shoppers said “they plan to finish their holiday shopping after Black Friday week.”
This compares to 19 percent of those polled who are shopping throughout Black Friday week and 10 percent who are shopping in “early November.” Six percent have either completed or planned to complete their shopping before Nov. 1.
“Although Thanksgiving and Black Friday still remain Pavlovian triggers for many consumers, shoppers don’t feel too pressured to ‘wrap’ things up just yet,” PwC said. “Especially in this age of dueling deals.”
Some of the shifts in holiday spending include more online shopping taking place on Thanksgiving Day. Other factors muting the impact of Black Friday