Shopping: a new Thanksgiving tradition

November 24, 2014: Forget the turkey and pumpkin pie: Thanksgiving is in the midst of a huge change that diminishes its traditional role as a day for family and reflection in favor of increased shopping activity.

Consequently, tensions have flared as the promotional activity by retailers increasingly challenges the day’s traditional sanctity. The controversy began in earnest last year, when Thanksgiving for the first time became a billion-dollar online shopping day. And this year will be no different, because the economics of early openings — both online and off — are so compelling for stores and chains.

Last year’s numbers tell a happy story for the “open early” crowd. According to Adobe Systems, online sales came for “Black Thursday” came in at $1.06 billion in the U.S., with actual spending up 18 percent. Adobe’s Digital Index measured dual online sales records for Thanksgiving and Black Friday, which saw 400 million visits during the two-day period.  Didit’s longtime client, Corel, an award-winning digital software company, witnessed tremendous online growth last year on Thanksgiving day.

The public’s growing thirst for holiday discounts was quenched by retailers such as Kmart, Walmart, and Target, which pushed aggressive online offers and opened doors early on Thursday with special door buster events. Perhaps the most aggressive big box retailer was Kmart, which opened at 6am on Thursday and didn’t close its doors until 11pm on Black Friday (Kmart recently announced that it will keep those same hours of operation for the holiday weekend this year).

Mobile played a huge role in online sales growth last year. Over the two shopping days of Nov. 28 and 29, nearly one out of every four online sales dollars (24%) occurred  on either a smartphone or tablet device. This resulted in a 118% increase in sales year-over-year (YOY) coming via these devices. Retailers understand that shoppers browse and research on their mobile devices. They’ve adjusted marketing strategy in order to engage with their consumer. IBM reported that retailers sent 37 percent more push notifications during the two day period over Thanksgiving Day and Black Friday when compared to daily averages over the past two months.

Needless to say, Thanksgiving has morphed into a shopping day and retailers can’t help but make moves to cash in this year. Retailers such as Macy’s are opening their doors on Thanksgiving once again. Kohls announced it will join Macys in opening at 6pm. They’re not the only ones. The list of retailers opening on Thanksgiving is growing. And why not? Retailers were rewarded for the strategy last year. Overall brick-and-mortar store sales for Thursday and Friday rose 2.3% from 2012. It should come as no surprise that Black Friday deals begin on Thanksgiving online as well, if not earlier. Amazon plans to increase the frequency and number of products available as “lightning deals” from Nov. 1 until post-Thanksgiving Black Friday weekend. In fact, recent news broke that certain malls will fine stores that refuse Thanksgiving openings.

However you feel about the fairness of stores compelling their employees to work on Thanksgiving, these early store openings have set consumer expectation and  shoppers now anticipate aggressive online deals or special in-store door buster events.

So pass the drumsticks, finish your pie, excuse yourself from the table, and grab your credit. card. It might not be the most spiritual way to spend your Thanksgiving, but it seems that both the public and the retailers serving them have made up their minds.

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Summary

Article Name

Shopping: a new Thanksgiving tradition

Description

Thanksgiving is in the midst of a huge change that diminishes its traditional role as a day for family and reflection in favor of increased shopping activity.

Author

Tara Matuszewski Whaley