Although retail industry analysts have been generally looking for increased shopping activity this holiday season, a survey from Consumer Reports predicts less activity for the day after Thanksgiving.
The day after Thanksgiving is widely seen as one of the largest shopping days of the year and can be seen as setting the tone for this year's holiday shopping season. Credit union and other card issuers benefit from the additional interchange income that heavier shopping seasons bring.
The survey found that some 102 million Americans intend to hit the mall on Black Friday or on the three days following.
"Although that's still a lot of shoppers, it's roughly 16 million less than last year," the magazine said when announcing the survey findings.
Consumer Reports found that 24% of shoppers plan to hit the stores on Black Friday itself and that same number plan to shop in stores on the following Saturday or Sunday, but the percentage of those who intend to shop online that weekend has remained steady, the magazine said.
"Shopping over Thanksgiving weekend is a sport for many people, and despite the downturn, you can count on long lines, crowds, and traffic," said Tod Marks, Consumer Reports senior editor and resident shopping expert. "But retailers are desperate for sales and consumers are likely to see deep discounts not only on Black Friday but throughout the holiday season. So there's no sense of urgency."