The latest research from LoyaltyOne, a global provider of loyalty marketing services and customer analytics, shows that there are three types of American Thanksgiving Day shoppers:
- Fifty percent who say all-day shopping hours on Thanksgiving Day are a bad idea that detracts from the traditional celebrations
- Thirty-three percent who say stores being open all day Thanksgiving Day is a great idea that provides more time for holiday gift shopping
- Seventeen percent who just can’t make up their minds
In the Millennials demographic (ages 18 to 34), attitudes about stores being open all day on Thanksgiving shift dramatically when compared to the general population (ages 18 to 55+). No less than 50% of consumers ages 18 to 24 say all-day shopping on Thanksgiving Day is a great idea. That support dropped only slightly to 48% in the 25- to 34-year-old age group.
Macy’s plans to launch Black Friday shopping at 6 p.m. on Thanksgiving Day (from 8 p.m. last year, and from midnight in 2011). Other leading retailers are following suit—and even one-upping in the case of JCPenney’s 5 p.m. opening.
Against this backdrop, LoyaltyOne obtained opinions on extended Thanksgiving Day shopping hours from 1,001 U.S. consumers in a nationwide survey taken in October 2014. The consumer views provide a window into the likelihood that all-day holiday shopping on Thanksgiving Day will become a reality.
"Savvy retailers put the customer at the center of all their decisions," said Fred Thompson, LoyaltyOne retail practice leader. "Although opening on Thanksgiving Day may lead to incremental sales that day, retailers could risk upsetting their most loyal customers who routinely shop their stores year-round. Retailers should identify who their best customers are and respond with Thanksgiving and Black Friday sales strategies accordingly."
Other key findings from LoyaltyOne's research include:
- Thirty-seven percent of men say being open all day on Thanksgiving is a great idea, compared with 29% of women.
- Sixteen percent of consumers age 55 and older say that being open all day on Thanksgiving is a great idea.
- Forty percent of consumers in the South say all-day store hours on Thanksgiving is a great idea, compared with 32% in the West, 29% in the Midwest and 26% in the Northeast.
[Image courtesy of LoyaltyOne]