Nov 12, 2007

Black Friday: Who Will Shop and How Could It Impact the Bottom Line?

St. Louis – A recent Maritz(R) Poll found that one-third of respondents (37 percent) plan to shop on the day after Thanksgiving. In last year’s poll, a similar number (34 percent) said they would shop on Black Friday.

Black Friday = Higher Income, Younger Generations

The consumer market research poll shows that respondents with household incomes of $100,000 or more will shop at significantly higher levels (45 percent) on Black Friday than those in the lowest income group of less than $25,000 (30 percent).

In addition, those who plan to shop on Black Friday say they will spend more overall on their holiday purchases — $790 compared to $637 for all shoppers combined.

Black Friday also has generational implications with the majority of Gen Y respondents (59 percent), as well as a significant portion of Gen X (46 percent), planning to shop. Only a small percentage of Boomers (23 percent) and the Silent Generation (21 percent) will venture out on Black Friday.

“It’s no secret that Black Friday shoppers are looking for discounts, and retailers have already started slashing prices — earlier than ever before,” said Gloria Park Bartolone, vice president, Maritz Research’s Retail Group. “If retailers can hit the mark with discounts that appeal to Gen X, Gen Y and those with larger household incomes, they might be able to capture more of the larger spend Black Friday shoppers are planning to make. That could make for a better start to what might be a ‘blue’ Christmas for retailers.”

Reigning in the Holiday Spending

According to the Maritz poll, the average spend this holiday season will be $637, down 10 percent from 2006. One-quarter of all respondents said they would spend less this year, with 50 percent citing “less money to spend this year” as the primary reason.

Where Will Santa Stop to Shop? Store Percentage of (list provided) Respondents Planning to Shop During the Holiday Season Wal-Mart 63 percent Target 57 percent Best Buy 43 percent K-Mart 28 percent Sears 23 percent Circuit City 21 percent Kohl’s 27 percent Macy’s 25 percent Victoria’s Secret 17 percent

“As retailers compete for holiday spending this year, it’s clear that convenience is a top factor for shoppers,” said Bartolone. “Stores such as Wal-Mart and Target continuously top the holiday shopping lists by enhancing the customer experience through convenience and ‘one-stop shopping.'”

This online Maritz Poll, which was conducted Oct. 8 – 11, 2007, featured responses from 993 randomly selected adults from an Internet panel survey on topics related to holiday shopping, buying behaviors and gift-giving trends. Respondents for this market research poll were split evenly between males and females, and results were weighted to match census demographics (on age, income, race, education and children in household). Margin of error for the overall poll is +/- three percent.

About Maritz(R) Poll
Maritz(R) Poll is a copyrighted poll conducted since 1988 by Maritz Research Inc. Maritz Poll comprises regular surveys on topics related to the automotive, financial services, hospitality, retail, technology, and telecommunications sectors as well as workplace issues. Results of the poll may be used in print or broadcast media, provided credit is given to the Maritz Poll and/or Maritz Research. For more information, visit maritzpoll.com or call 1-877-4MARITZ.