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ICSC Predicts a Strong Black Friday
Retailers are gearing up for another successful Thanksgiving Weekend, as consumers plan to spend an average of $554.90 with $207.30 dedicated to holiday gifts, according to a new survey from the International Council of Shopping Centers (ICSC). Omnichannel retailers stand to benefit the most, with 93% of shoppers planning to spend with retailers that have both a physical and a digital presence.
Shoppers also plan to buy online and pick-up in store, with 77% indicating they are likely to spend additional money at that store or adjacent stores.
ICSC’s Tom McGee says, “It’s clear that having a strong physical and digital presence continues to drive sales – and Black Friday is no exception. This year’s survey results once again show that consumers want options, and will shop both in-store and online throughout the holiday season.”
A total of 71% of Thanksgiving Weekend shoppers will go to a shopping center or mall during the weekend, with Millennials – long-considered the “online” generation – leading the pack at 83%.
Non-shopping activities will also be a significant draw for consumers that weekend, with 89% of Thanksgiving weekend shoppers indicating they plan to go to malls or shopping centers to eat, see a movie, and partake in holiday-specific revelry like visiting Santa.
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