Most Americans Say ‘No’ to Black Friday This Year
When you finally pull into the parking lot after waiting behind a line of cars to even enter, there’s nowhere to park. People are scanning the lot’s lanes in their cars, watching and waiting to find an empty spot. You may even follow shoppers out to their cars as they leave the store, because maybe, just maybe, you’ll be able to score a space.
After finally finding a spot, you go inside to find a packed retail establishment — there’s no reprieve as shoppers with carts monopolize all of the space inside each aisle. It’s difficult to maneuver around the store, but you are able to work your way toward the section you want to get to, only to find a crowd of people waiting to purchase the same item as you.
Black Friday is the craziest shopping day of the year. You can absolutely find great deals, but you will pay for those deals in a lot of aggravation, and maybe even a little blood, sweat, and tears. Is it worth it? This year, most Americans are saying “no.”
Bankrate recently conducted a survey on holiday shopping in partnership with Princeton Survey Research Associates. The results showed that this year, only around one in four Americans (28%) are planning on shopping in stores this Black Friday. The remaining 72% will be foregoing those day-after-Thanksgiving deals. Surprisingly, it’s not only Black Friday that many of us are planning on skipping this year, as around 75% of Americans say they won’t be shopping online on Cyber Monday either. For those who plan to shop on Black Friday, they plan to spend an average of $399 and a median of $200.
Why shoppers say ‘no’ to Black Friday
More and more, retailers are “staggering” deals instead of offering one day door-busters, as they did in the past. Consumers are learning that Black Friday is no longer a one-time-only opportunity to save, and neither is Cyber Monday for online shoppers. Many retailers start Black Friday deals on Thanksgiving day, and some have already started with the deals — they started weeks before Thanksgiving.
“Wal-Mart, for instance, started featuring ‘Rollback’ prices on more than 20,000 items Nov. 1. Over at Office Depot, every Monday has been Cyber Monday since November 3, and Target is hosting a special Black Friday presale Wednesday, November 26,” according to the Bankrate study.
Although you may be able to get some of the best deals on Thanksgiving or on the day following Thanksgiving, some people feel as though it’s simply not worth it. Black Friday has come to be associated with chaos, confusion, and even violence. There have been several reports of violence on the day of savings, ranging from mild incidents like shoving or physical aggression to actual shootings.
Who will shop on Black Friday?
Younger shoppers seem to be more interested in Black Friday than other age groups. You can see how as age increases, the percentage of people who intend on shopping in stores on Black Friday decreases. Younger shoppers will shop more, but on average, they’ll spend less. In the Bankrate survey, most millenials said they would only spend between $101 and $250 on Black Friday shopping, while most consumers in the 30-to-49 age group and the 50-to-64 age group plan on spending between $250 and $501.