“BLACK FRIDAY” SHAPING UP TO BE RETAIL BONANZA NEW ARG/UBS SURVEY REVEALS 48.9% SAY THEY WILL SHOP BLACK FRIDAY
CHARLESTON, SC – The day after Thanksgiving will give retailers the biggest sales boost in U.S. history heading into the busy holiday shopping season, according to new research released from America's Research Group/UBS.
"The last Friday in November will be incredible for every retail category, even those not normally seen as selling Christmas gifts," said Britt Beemer, Chairman and CEO of America’s Research Group. "The highest number of people in 20 years of conducting shopping surveys said they will shop on Black Friday. This is 'incredible.'"
The findings were based on a survey conducted the first weekend in November and released now. The survey also showed that of the nearly 50% shopping, 65% - also the highest number in the 20 years of America's Research Group's Christmas Shopping Surveys - will shop early bird specials on Black Friday.
"As more and more shoppers look to holiday weekends to do their shopping, Black Friday this year should break every shopping record," Beemer said. ARG research has been 100% correct in its holiday shopping research over its 20-year history of taking these surveys. Even though the Survey showed that people will spend less this year – at 54% this is also the highest number ever - of that number many more will choose to hit the stores on Black Friday.
This year is different, too, because for the first time nearly half of respondents – again, the highest number ever - expect stores to be short-handed – BUT – for the first time, too, the rudeness factor is kicking in: a whopping 46.1% - again the highest in survey history – said they will leave if forced to wait in line.
Also on Black Friday, based on survey results, expect shoppers to use credit cards far less than they have ever done so up until this time. Last year, 2 in 5 or 38.5% used credit cards to pay for Christmas gifts. This year that number is reduced in half with only 15.8% using credit cards this year.
The ARG/UBS research consisted of 1000 telephone interviewed November 5 to 7, 2010 at ARG headquarters in Charleston, SC. The error factor is plus or minus 3.8%. The next ARG/UBS shopping survey will be conducted following Black Friday. The surveys will continue every week through the shopping season. America’s Research Group, one of the nation’s foremost consumer research and strategic marketing firms, marked its 30th anniversary in 2009. CEO Britt Beemer is a key resource and advisor to leading brands and top retailers. He is author of The Customer Rules, published by McGraw-Hill.
UBS Global Equity Research provides the broad global perspective and in-depth analysis that institutional investors need to make good investment decisions. With more than 600 analysts, associates, strategists and economists in EMEA, APAC and the Americas, UBS covers approximately 85% of the world market capitalization – over 3,300 companies worldwide across 46 different markets. In addition to UBS’s disciplined fundamental research, clients also rely on UBS for corporate and expert access to give them the insight they need, when they need it.