With stores opening on Thanksgiving day for Black Friday deals this year, consumers are now under more pressure than ever to fit cut-rate shopping into their holiday schedules. Though millions of Americans will line-up and fight over the inexpensive electronics and toys on Friday, it appears that most Americans will not be tempted by this weekend's sales.
A new Consumer Reports survey has shown that 56% of Americans do not plant to shop at all this holiday weekend, either in stores or online. Though a majority of Americans will still avoid Black Friday, the 44% who will do some shopping this weekend represent a 14% increase from last year's Black Friday.
“Those who intend to go out shopping on Black Friday probably know what to expect, and to them that’s part of the allure,” said Tod Marks, senior editor for Consumer Reports. “However, it's easy to get caught up in the shopping frenzy and spend more than you really want to. That’s why it’s important to do your homework beforehand, have a plan and stick to it.”
Of the American majority who will skip shopping this weekend, most of them (70%) cited the large Black Friday crowds as the reason they will opt out. Just over one-third of them (34%) believe that Black Friday deals are "too overhyped" and 30% simply don't want to get up early. 33% would rather "do something else" such as spend time with family, which 29% of those not shopping this weekend would rather do.
For those who will brave the cold and the crowds this Friday (and this year, Thursday), a majority (55%) simply can't resist the low prices and plan to shop this weekend because the specials will be "the best deals of the year." 43% also cite the "door-buster deals" as the reason for shopping this weekend, while a full 23% of those planning on shopping this Black Friday now consider it to be a tradition.