The International Council of Shopping Centers, Inc. (ICSC) and Goldman Sachs (GS) conducted a survey between October 31 and November 3, 2013. In addition to those planning to shop on Black Friday, the results showed that only 13% of U.S. plan to shop on Thanksgiving Day.
Many retailers have recently made the move to open on Thanksgiving Day despite the backlash from employees and consumers alike. The numbers from the survey appear to support the negative feelings of most Americans about forcing employees to work on a day reserved for time to gather with family and give thanks.
The survey clearly shows, however, that the day after Thanksgiving, known as Black Friday, continues to be the prime focus for the bargain-conscious consumer. In fact the weekend following Black Friday is likely to be busy as well, with 34% of consumers expecting to shop.
Growing in popularity with each passing year, the Monday after Thanksgiving – Cyber Monday is expected to see 42% of consumers shopping for online Cyber Monday discounts and deals. Often the Cyber Monday deals are as good or better than those on Black Friday.
The ICSC-GS survey also found that bargain-priced holiday gift buying is the chief motivation to be shopping on Black Friday, but some 27% of consumers who plan to shop that day are primarily looking for bargains—not holiday gifts.