A report done by Bankrate.com released Wednesday shows that most Americans are taking a pass on shopping during Black Friday and Cyber Monday this year. According to the report, only 40 percent of Americans are planning to shop on Black Friday while only 28 percent plan do brave the crowds and do their shopping in store. The remainder plan to do their shopping via the Internet.
What’s behind the decision to not show up for what is typically considered the best day of the year for huge discounts on big dollar items and holiday deals? The option to get deals even earlier.
“Traditional Black Friday has a bit of a bad rap to the casual shopper” Bankrate analyst Jeanine Skowronksi explains. She cites the several horror stories that have surfaced in the news and online over the last several years as a likely deterrent “that’s making them inclined to stay away on that particular day.”
Beyond the risk of being trampled by a mob in a Wal-Mart, the extended length of the holiday shopping season also play a large role in consumers avoiding Black Friday. Many retailers have begun offering Black Friday deals as early as November 1st, relieving consumers of the urgency to travel to stores the day after Thanksgiving.
“People have become conditioned to looking for deals and discounts before Black Friday and right after Christmas,” Skowronksi said. “It’s more like the deal will come to them, than they need to be aggressive and get the deal.”
Out of those who plan on spending on Black Friday, Bankrate.com anticipates that 54 percent of Millennials will venture to stores, while only 45 percent of 30 to 49 year olds and 35 percent of 50 to 60 year olds are planning on shopping either in stores or online.
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