Shoppers to Black Friday: We Are Going to Spend Less This Year
Chicago, IL – Brad’s Deals, the leading website for shopping deals and advice, conducted a survey finding that 29% of Black Friday shoppers estimated they will spend more than $500 this Black Friday versus 32% last year.
“In a time where it seems like the world is ending every other week, shoppers are more weary than last about opening their wallets this Black Friday,” said Brad Wilson, founder of BradsDeals.com. “Our shoppers have said loud and clear that more of them are going to spend less and less of them are going to spend more, which is not a great sign for retailers.”
10% of shoppers estimated that they will spend less than $100 this year, versus 14% last year.
Shoppers aren’t spending less due to the abundance of deal sites, Wilson added. Despite the concern and uncertainty over the recession, there has been a counter-intuitive decline in US household savings rates. Recently above 7%, the highest in a very long time, they have dropped to 3.6% of disposable income in September, though that is still less frugal than the 1-2% we saw from 2005-2007.
The poll also concluded that 68% of Black Friday shoppers will shop offline. Of these shoppers, 78% will purchase electronics, while 67% will purchase apparel and 44% purchase toys.
Brad Wilson is the Founder & Editor-in-Chief of BradsDeals.com, a free consumer resource. Staffed by a team of expert editors and bargain-hunters, Brad’s Deals publishes daily handpicked deals and maintains a list of over 4,000 active online coupon codes and printable in-store coupons valid at over 2,000 top retailers including Target, Best Buy, Sears and Walmart. Many coupons and deals are made available exclusively to the Brad’s Deals audience by retailers.
BradsDeals.com is home to BlackFriday2011.com and CyberMonday2011.com.