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Making spirits bright: Deloitte’s 2014 pre-Thanksgiving shopping survey

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Deloitte's Pre-Thanksgiving shopping survey - 2014

81% of respondents plan to spend more or the same amount on the holidays as compared to just a month or two ago (up from 69% last year)

54% of consumers are expected to shop over the Thanksgiving weekend* (53% in 2013)

Respondents plan to spend an average of $295 over the Thanksgiving weekend (an increase of $9 from 2013)

Consistent with 2013, only 13% of respondents expect to shop in stores on Thanksgiving Day, yet they plan to spend 16% more than last year

More in-store shopping is expected on Black Friday and Saturday compared to the other days of the Thanksgiving weekend

More online shopping is expected on Black Friday and Cyber Monday compared to the other days of the Thanksgiving weekend

Among those shopping in stores on Black Friday, a significant majority (85%) said they will be doing so to take advantage of sales

For more information, visit http://dupress.com/articles/holiday-retail-sales-2014/

Published in: Retail
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Making spirits bright: Deloitte’s 2014 pre-Thanksgiving shopping survey

  1. 1. Making spirits bright Deloitte’s 2014 pre-Thanksgiving shopping survey November 2014
  2. 2. About the survey The survey was commissioned by Deloitte and conducted online by an independent research company on Monday, November 17, 2014. The survey polled a sample of 1,000 consumers and has a margin of error for the entire sample of plus or minus three percentage points. As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. 2 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  3. 3. Executive summary • 81% of respondents plan to spend more or the same amount on the holidays as compared to just a month or two ago (up from 69% last year) • 54% of consumers are expected to shop over the Thanksgiving weekend* (53% in 2013) • Respondents plan to spend an average of $295 over the Thanksgiving weekend (an increase of $9 from 2013) • Consistent with 2013, only 13% of respondents expect to shop in stores on Thanksgiving Day, yet they plan to spend 16% more than last year • More in-store shopping is expected on Black Friday and Saturday compared to the other days of the Thanksgiving weekend • More online shopping is expected on Black Friday and Cyber Monday compared to the other days of the Thanksgiving weekend • Among those shopping in stores on Black Friday, a significant majority (85%) said they will be doing so to take advantage of sales *References to “Thanksgiving weekend” throughout represent the period from Thanksgiving Thursday through Monday 3 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  4. 4. 81% of respondents expect to spend more or the same on the holidays as compared to just a month or two ago (up from 69% last year) How do your holiday spending plans compare to just a month or two ago? 28% +8 vs. 2013 53% 20% +4 vs. 2013 -11 vs. 2013 0% 20% 40% 60% 80% 100% I plan to spend more I plan to spend the same amount I plan to spend less 4 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  5. 5. 54% plan to shop in stores or online over the Thanksgiving weekend – down from 60% in 2012 Do you expect to do any shopping for the December holiday(s) either online or in stores over the Thanksgiving period - including Thanksgiving Thursday through the following Monday? 53% 54% 60% 70% 60% 50% 40% 30% 20% 10% 0% 5 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  6. 6. Respondents’ planned spending behavior over the Thanksgiving weekend Mean 2011 2012 2013 2014 How much do you plan to spend on shopping from Thanksgiving Thursday through the following Monday? $224 $286 $286 $295 What percentage of your holiday gift spending have you completed to date for the December holidays? 23% 19% 18% 18% Considering the holiday gifts that you have already purchased, what percentage was bought “on sale” or with a coupon? 26% 23% 25% 23% 6 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  7. 7. Among those shopping over the Thanksgiving weekend, the majority (52%) of respondents are expected to spend online What percentage of your spending during the Thanksgiving weekend is expected to be through the following shopping channels? (Base: 54% shopping over the Thanksgiving weekend) 3% 45% 52% Online In-store Catalog +4 vs. 2013 Respondents will spend an average of $86 in stores on Thanksgiving Day (vs. $74 in 2013) 7 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  8. 8. Black Friday and Saturday are expected to be the most popular days for in-store shopping over the holiday weekend Of the 54% of respondents expecting to shop over the Thanksgiving weekend – On what days do you expect to shop in stores? -5 vs. 2013 13% 48% 44% 30% 27% 0% 10% 20% 30% 40% 50% 60% Thursday (Thanksgiving Day, November 27) Friday (Black Friday, November 28) Saturday (November 29) Sunday (November 30) Monday (December 1) 8 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  9. 9. Black Friday and Cyber Monday are expected to be the most popular days for online shopping over the holiday weekend Of the 54% of respondents expecting to shop over the Thanksgiving weekend – On what days do you expect to shop online? 21% 48% 39% 35% 51% +4 vs. 2013 +4 vs. 2013 0% 10% 20% 30% 40% 50% 60% Thursday (Thanksgiving Day, November 27) Friday (Black Friday, November 28) Saturday (November 29) Sunday (November 30) Monday (December 1) 9 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  10. 10. Respondents’ expected shopping itinerary on Thanksgiving Day and Black Friday What time do you expect to go to the store on the Friday after Thanksgiving? (Base: 48% shopping in stores on Black Friday) 13% 1% 1% 2% 4% 9% 10% 7% 10% 9% 35% 0% 10% 20% 30% 40% 50% Midnight 1:00 AM 2:00 AM 3:00 AM 4:00 AM 5:00 AM 6:00 AM 7:00 AM 8:00 AM 9:00 AM 10 AM or later What time do you expect to go to the store on Thanksgiving Day? (Base: 13% shopping in stores on Thanksgiving Day) 46% 18% 4% 7% 6% 3% 11% 0% 10% 20% 30% 40% 50% 5 pm or earlier 6 pm 7 pm 8 pm 9 pm 10 pm 11pm or later 10 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  11. 11. Among those shopping in stores on Black Friday, a significant majority (85%) said they will be doing so to take advantage of sales Top three reasons respondents will you be shopping in stores on Black Friday (Base: 48% shopping in stores on Black Friday) 85% 35% 33% -6 vs. 2013 +7 vs. 2013 +19 vs. 2013 0% 20% 40% 60% 80% 100% To take advantage of sales Overall excitement of the day I enjoy shopping with family and friends on this day 69% of consumers expect to shop with other family members and friends in stores over the Thanksgiving weekend 11 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  12. 12. Retailers’ websites are the top source where respondents expect to obtain Black Friday sales information Where do you expect to obtain information about Black Friday sales? (Base: All respondents) 33% 31% 27% 24% 22% 21% 15% 12% 9% +4 vs. 2013 -5 vs. 2013 0% 10% 20% 30% 40% 50% Retailers’ websites Websites dedicated to featuring Black Friday deals Newspapers Mailers/flyers Email TV or radio commercials Social media sites In retailers’ stores Other websites 49% of consumers expect to spend up to 2 hours researching Black Friday deals 12 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  13. 13. Four in 10 respondents plan to complete their online holiday purchases early to avoid shipping delays 2014 2013 Change I won’t be motivated to shop on Thanksgiving Day this year because it’s an important holiday to spend with family and friends 67% - - I plan to avoid shopping in stores during the Thanksgiving weekend to avoid crowds 59% 59% - I don’t rely on shopping on Black Friday or Cyber Monday as much as I used to for holiday shopping 41% 40% +1% I plan to complete my online holiday purchases early this year to avoid shipping delays 40% - - I plan to research online before shopping in stores on the Thanksgiving weekend 37% 35% +2% I plan to shop Saturday (the day after Black Friday) to support local retail businesses 33% - - Black Friday deals are not as good as they used to be 26% 21% +5% I’ll likely purchase earlier in the holiday season because of concerns that merchandise may run out 22% 19% +3% 13 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  14. 14. Download now: Deloitte’s 2014 holiday survey report Follow @DeloitteCB , @DU_Press and #Holiday2014 to learn more! 14 Copyright © 2014 Deloitte Development LLC. All rights reserved.
  15. 15. This presentation contains general information only and is based on the experiences and research of Deloitte practitioners. Deloitte is not, by means of this presentation, rendering business, financial, investment, or other professional advice or services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this presentation. Copyright © 2014 Deloitte Development LLC. All rights reserved. 36 USC 220506 Member of Deloitte Touche Tohmatsu Limited

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