“It is not clear whether there will be any significant sales on Thanksgiving Day itself this year in brick-and-mortar stores. Some retailers had tried this practice during the recession, but there was considerable backlash from shoppers who felt that store employees should be able to spend their time with their families rather than working on Thanksgiving.”
“Many of us like to marvel at, complain about or participate in the craziness of Black Friday shopping. However, data shows that sales on the day after Thanksgiving have declined over the past two years and there are reasons to expect the trend to continue.
“This is probably not an indication that Americans are giving up on holiday shopping. In fact, with the economy fairly strong at the moment, we could see more sales this season than last. But the nature of when and where we purchase our gifts may be changing for good.”
Elizabeth Currid-Halkett can discuss the dynamics of millennial gift-giving, conspicuous consumption and the impact of high-end retail. Currid-Halkett believes today’s consumers seek out more experience-driven goods and services rather than just buying material goods.
“As consumers shop for gifts this holiday season, there is a much greater concern for cyber security. As in years past, shoppers are vulnerable to scams intended to steal their credit card and bank account information, but this year they are seeing new technology gifts that will invade their privacy and diminish their security for years to come. They are the gifts that keeps on taking.”