Black Friday or Broken Friday?
Be careful out there come Friday morning. We would hate to see another casualty on Black Friday Death Count, a website that clocks the injuries and fatalities that happen on the biggest shopping day of the year.
As the team here starts to prepare for the Thanksgiving holiday, we couldn’t help but poke around the interwebs to see how public opinion stacks up towards Black Friday and how this singular shopping day has already made headlines weeks ahead of the actual event.
In no particular importance, here are facts and figures that we pulled from the world wide web about Black Friday:
- Just 28 percent of Americans plan to shop in a store on Black Friday, according to a survey commissioned by Bankrate and compiled by Princeton Survey Research Associates International.
- A few years ago, retailers started opening their brick-and-mortars on Thanksgiving Day in an effort to win a bigger chunk of Black Friday business. Macy’s, Kohl’s, Sears, Wal-Mart and J.C. Penney are among the retailers planning to do so again this year.
- Pre-Thanksgiving online sales are already up 19 percent over 2013 when retailers like Walmart, Target, Amazon, Staples, Lowe’s and Sears got an even earlier start this year.
- Analysts predict that Black Friday sales will make up a 4 percent increase in sales during the 2014 holiday shopping season but margins will suffer since the shopping frenzy has trained consumers to expect a constant stream of price cuts.
- Millennials are the group most likely to brave the Black Friday crowds. According to Bankrate’s survey, 54 percent of consumers ages 18 to 29 say they will shop either in stores or online the day after Thanksgiving.
- Collectively, Black Friday shoppers anticipate spending an average of $399 per shopper, with a median of $200.
- According to a new study by NerdWallet, the long-held idea that the day after Thanksgiving is the best day of the year for sales, with unprecedented deals there for the taking, is wrong. Analysis of 27 Black Friday advertisements was conducted and 25 of those retailers listed at least one product for the exact same price in 2014 as in their 2013 Black Friday ad. That means 93% of retailers are repeating Black Friday products — and prices — from year to year.
- In a Harris Poll study commissioned by NerdWallet, research predicted that middle-income Americans will carry holiday debt longer than lower-income consumers.
Attention Black Friday shoppers: You’re wasting your time. Or not? We’d love to hear your thoughts.