Wednesday, November 15, 2006

Will you be shopping on Black Friday?

Display and Design Ideas Magazine writes that according to a survey conducted by Maritz Research Inc, an estimated 34% of shoppers are planning to shop on Black Friday. An estimated 33% of those who will be shopping on Black Friday will spend over $875 on gifts and 17% plan to spend more than $1,000.
"For those who wonder why retailers invest so much effort and creativity into one shopping day, these numbers speak volumes," said Mark Rein, director of strategic consulting for the Maritz Retail Research Group. "The poll also revealed strong demographic indicators, such as 44 percent of those with household incomes between $75,000 and $100,000 planning to shop on Black Friday."

Black Friday has generational implications with the majority of Gen Y respondents (58 percent), as well as a significant portion of Gen X (40 percent), planning to shop. "Gen Y, which is known for its affinity for fashion and impulse spending, is a prime target for retailers," Rein said. "A good Black Friday showing by this group is key for many retailers trying to jump-start this holiday season."

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