Gen Y Warms Up To The 'New' Black Friday
Accenture reports shopping on both Thursday and Friday of retail's big weekend is clearly a sport for the young, with 55% of 18- to-24-year-olds and 61% of 25- to-34-year-olds saying they are likely to shop on Thanksgiving Day, compared with 31% of 45- to-59-year-olds. And 80% of 18- to-24-year-olds and 70% of those ages 25 to 34 intend to shop on Black Friday. In contrast, only 51% of the 45 to 59 set will brave the crowds.
And interestingly, the majority of young Millennials -- 58% of the 18-to-24 crowd plan to buy most of their gifts in stores. But of the 45- to-59-year-olds shopping on Thanksgiving, most intend to do the bulk of their shopping online.
Accenture also reports that a total of 55% of American adults are planning to storm the malls on Black Friday, up from 53% in 2012 and 44% in 2011. That means interest in Black Friday is at its highest level in five years.
Meanwhile, both Kohl’s and Walmart are touting what they promise will be their biggest Black Friday events ever, with
Walmart promising seven times the number of one-hour guaranteed items compared to last year. And it will host special Black Friday events at 6 p.m. and 8 p.m. on Thanksgiving, and then again at 8 a.m. on Friday, Nov. 29.
And in a first, the Bentonville, Ark.-based chain says it will distribute wristbands to customers for certain in-demand products, enabling them to shop for other gifts. “Customers with a wristband simply need to come back to the designated line within two hours after the event start time to pick up their product,” it says.
Kohl’s, with plenty of its own consumer electronics door busters and specials, also hopes to whip up a shopping frenzy by offering $15 in Kohl’s Cash for every $50 spent. And between the hours of 8 p.m. and midnight on Thanksgiving, one lucky shopper at each of its stores will get to shop for free.
Target, in addition to announcing its Thanksgiving hours, is also trumpeting its new Cartwheel digital savings program with special offers. And to further coax shoppers, those who spend $75 or more on Black Friday, between midnight and store closing, get a coupon that shaves 20% off a storewide purchase in early December.