Nov 24, 2014
AUSTIN, Texas, Nov. 24, 2014 /PRNewswire/ -- RetailMeNot (www.retailmenot.com), a leading digital offers destination that helps consumers save money, today announced the latest edition of its Shoppers Trend Report, which revealed nearly 2 in 5 (39%) consumers typically shop on Thanksgiving Day, either on a computer or mobile device, or in-store. Last year, a similar RetailMeNot survey found that only 23% of consumers reported shopping on Thanksgiving Day.
Deal or No Deal!
The holiday shopping landscape is changing rapidly as retailers compete to win over consumers earlier and earlier. According to the October survey, while the specific days that offer the greatest promotional activity may be changing, what remains the same is that the most common incentive for shoppers to choose one retailer over another is if they have a good deal or coupon (81%). Fewer respondents are motivated by a price-matching policy (52%), a loyalty program (46%), a variety of shipping or ordering options, such as in-store or online (46%) or a layaway program (23%).
Thanksgiving Kicks Off 5 Days of Savings
According to a September survey conducted by RetailMeNot, holiday shoppers plan to spend an average of $196 per person on gifts this year, which is up from $167 in 2013. Additionally, those shoppers expect to purchase gifts for an average of eight people this holiday season. Do the math and that could amount to $1,500 or more that consumers will shell out on holiday gifts.
So which shopping day provides consumers with the most bang for their buck? RetailMeNot's internal data shows that while the average percentage off on Thanksgiving and Black Friday in 2013 was comparable at 37%, consumers reported a higher average savings on Thanksgiving Day ($57 saved per purchase) versus Black Friday ($27 saved per purchase) during the 5 Days of Savings (Thanksgiving to Cyber Monday) in 2013.
Where There's a Will (to Shop), There's a Way
Of the nearly 2 in 5 (39%) consumers who told us in October that they typically shop on Thanksgiving Day, 71% shop online on a computer, 41% in-store and 28% online on a mobile device. What's more is that as of early September, more than 1 in 4 (27%) of this year's holiday shoppers intended to have their gift purchases completely finished by Black Friday, so many retailers have responded by extending their holiday hours and opening their stores on Thanksgiving Day. According to the September survey:
And it's no longer just Black Friday that draws the early birds. According to the latest RetailMeNot survey, 80% of Thanksgiving Day shoppers would wake up early on Thanksgiving morning to shop for a deal. Additionally, researching Black Friday deals has become a Thanksgiving Day tradition for more than one-third (36%) of consumers surveyed in October.
Proving that little can get in the way of deal seekers and their bounty, many people surveyed in October admit to shopping on a full stomach (46%), on very little sleep (36%) or even under the influence of alcohol (12%) to take advantage of pre-Black Friday sales.
Black Friday Traditionalists
While Thanksgiving Day is quickly gaining steam as a major shopping holiday, Black Friday remains a cornerstone of the holiday experience for many people. Over 1 in 5 (21%) Black Friday shoppers reported in the October survey that they have never missed a year of taking advantage of deals on the day after Thanksgiving. More men than women (25% vs. 18%) have kept the tradition alive by never missing a year of shopping on this traditional day of savings.
Many people indicate they would do something mischievous in order to make it to the stores on Black Friday. In fact, 16 percent of Black Friday shoppers reported in October that they would be willing to leave family and friends to ensure they get to the Black Friday deals. Nearly 10% admit they'd break the speed limit (8%) or cut the line (8%) to get into a store.
People are die-hard in their dedication to deal-seeking. A substantial majority of Black Friday shoppers (93%) reported in October that they are willing to wake up early on Black Friday to shop, with 52% of these consumers planning to arrive before dawn (earlier than 6 a.m.). Close to 1 in 5 (18%) Black Friday shoppers would not walk away from a great Black Friday sale no matter how long the line was. On average, these consumers are willing to wait in line for two and a half hours for a great deal. However, over 1 in 10 (13%) Black Friday shoppers would pay for someone to stand in line for them on this day.
Black Friday isn't just about the physical store experience. According to the October survey, consumers attack this holiday from all angles, with a majority (56%) of Black Friday deal seekers shopping both online and in stores that day. Preparation is the key to success. Eighty percent of Black Friday shoppers would create a Black Friday plan prior to shopping, and on average they would do so eight days in advance.
Shoppers can visit www.retailmenot.com/deals/blackfriday for gift inspiration, shopping tips and up-to-the-minute Black Friday offers. For a list of retailer store hours on Thanksgiving Day and Black Friday, visit www.retailmenot.com/blog/thanksgiving-and-black-friday-store-hours.html.
The Omnibus surveys were conducted between October 27 and November 5, 2014, and September 3 and September 8, 2014, among 1,027 and 1,036 U.S. residents ages 18 and over, using an e-mail invitation and an online survey. Quotas are set to ensure reliable and accurate representation of the entire U.S. population ages 18 and over. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and affected by the number of interviews and the level of the percentages expressing the results. In these particular studies, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 and 3 percentage points, respectively, from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. The margin of error for any subgroups will be slightly higher.
The 2013 Omnibus survey was conducted between December 2 and December 6, 2013, among 1,017 U.S. residents ages 18 and over, using an e-mail invitation and an online survey. Quotas are set to ensure reliable and accurate representation of the entire U.S. population ages 18 and over. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. The margin of error for any subgroups will be slightly higher.
RetailMeNot.com (http://www.retailmenot.com) is a leading digital offers destination that helps consumers save money. Since November 2006, our users have shared hundreds of thousands of offers from retailers. These offers are voted on by users, ensuring that quality deals rise to the top and those that are expired drop down the list. RetailMeNot.com is operated by RetailMeNot, Inc., the world's largest marketplace for digital offers. Consumers can save more at their favorite stores by downloading the RetailMeNot app at http://www.retailmenot.com/blog/rmn-whats-new.html.
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About RetailMeNot, Inc.
RetailMeNot, Inc. (http://www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers from their favorite retailers and brands. During the 12 months ended September 30, 2014, RetailMeNot, Inc. experienced more than 655 million visits to its websites. In 2013, RetailMeNot estimates $3.5 billion in its paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. Its mobile apps have been downloaded over 18.5 million times. The RetailMeNot, Inc. portfolio includes RetailMeNot.com, the largest digital offer marketplace in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk, the largest digital offers marketplace in the United Kingdom; Deals.com in Germany; Actiepagina.nl, a leading digital offers site in the Netherlands; Bons-de-Reduction.com and Ma-Reduc.com, leading digital offers sites in France; Poulpeo.com, a leading digital offers site with cash back in France; and Deals2Buy.com, a leading digital offers site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit http://investor.retailmenot.com.
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