Survey: 45% of Consumers to Shop Black Friday Weekend

New York City A hefty 45% of consumers reported that they plan to shop on Black Friday or during the weekend after Thanksgiving, according to a survey commissioned by International Council of Shopping Centers, (ICSC) and Goldman Sachs and conducted by Opinion Research Corp.

The survey, conducted between Nov. 20, through Nov. 23, found that consumers who plan to shop will frequent discounters, most with 81% of holiday shoppers heading to a discount store on the Black Friday weekend, department stores followed at 78%, with electronics (63%) coming in third.

“These results are somewhat surprising on many fronts,” said Michael P. Niemira, ICSC chief economist. “The percentage of shoppers who plan to take advantage of those holiday bargains rose appreciably from the prior year (45% vs. 36% in 2007) and, secondly, so too did the share of consumers who will be shopping for themselves (81% vs. 69% in 2007). “These results further underscore how pent-up demand can be triggered by the right set of promotions and events, but also how some potentially strong sales days can co-exist with a weak underlying sales trend.”