Survey Americans Ready to Spend on Black Friday

Survey Americans Ready to Spend on Black Friday

A new survey by The Nielsen Company shows that nearly one in five Americans will shop the Friday after Thanksgiving (aka Black Friday) and more than half (61 percent) plan to spend $100 – $500.

“Consumers are ready to spend, but in a mindful manner,” said James Russo, vice president, Global Consumer Insights, The Nielsen Company. “Consumers continue to closely plan their spending in this persistently difficult economic climate and for Black Friday that means shopping lists. Consumers are increasingly savvy and know that retailers will continue to offer aggressive promotions as we work our way through this critical retail season.”

Additional Insights:

  • First Timers: Of the 19 percent of Americans planning to shop Black Friday, 10 percent will be shopping Black Friday for the first time.
  • Ready to Spend: The majority (61 percent) of Black Friday shoppers plan to spend $100 – $500. Eleven percent plan to spend more than $500 while 25 percent plan to spend less than $100.
  • Planful Shoppers: Nearly 60 percent of those shopping Black Friday will be armed with a shopping list.
  • Retail Winners: More than three-quarters (76 percent) tell Nielsen they will be shopping at department stores on Black Friday, while 55 percent will shop at supercenters/mass merchandiser stores and 52 percent will shop at electronics stores. Other Black Friday shopping locations include: toy stores (35 percent), online (23 percent), and dollar stores (22 percent).
  • Black Friday Buys: Sixty-four percent of shoppers will buy apparel, while 60 percent will buy electronics and 47 percent will buy toys. Video games (36 percent), gift cards (35 percent) and discretionary items such as sporting goods (27 percent) and jewelry (22 percent) also make the Black Friday shopping lists.
  • Nielsen Holiday Forecast: Nielsen predicts flat spending for the holiday season, with online retailers experiencing the biggest surge. The company forecasts a strong season for technology products and gift cards with a slight uptick in discretionary items such as jewelry and DVDs.

“This holiday season isn’t all about the basics,” said Russo. “It’s about retailers understanding consumers’ new definition of value —‘I want what I want but at the best price’ — as they go after share of wallet.”