Dive Brief:
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Fewer shoppers are heading out in pursuit of Black Friday deals this year compared to previous years, PwC's 2019 Holiday Outlook report shows. Back in 2015, 59% of consumers said they planned to shop on Black Friday, but only 36% of shoppers said the same in 2019. In fact, 49% of shoppers plan to shop after Black Friday week.
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For consumers looking for Thanksgiving deals, 32% of shoppers will purchase goods online, 17% of shoppers will buy goods in-store and 22% said they will use both channels. Meanwhile, nearly 24% of consumers don't plan to shop on Thanksgiving at all, per the PwC report emailed to Retail Dive.
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Consumers expect to spend $1,284 on average during the 2019 holiday season, according to PwC. Men plan to spend more than women ($1,458 compared to $1,131), people in cities will spend more than those in suburban or rural towns ($1,485 compared to $1,323 and $1,041, respectively), and parents will spend more than childless consumers ($1,528 compared to $950), PwC found.
Dive Insight:
PwC's report calls into question how much Black Friday influences consumers to shop over Thanksgiving weekend. A previous report from the National Retail Federation predicted that younger shoppers plan to seek out deals during Thanksgiving weekend.
The PwC study also found that consumers anticipate spending more during the holidays this year than previous surveys found. While Tinuiti survey respondents expected to spend at least $500 over the holidays, the NPD Group's survey placed holiday spending at $740.
Additionally, PwC's report adds context to consumers' relationship between their attitude and their spending habits. A previous OpenX Technologies report found consumers plan to spend more during the holiday season despite their economic worries. Plus, consumers are becoming more lax about adding credit card debt to have happy holidays. PwC respondents who were optimistic planned to spend $1,561 during the holidays, compared to pessimists who expect to spend $1,152.
