MINNEAPOLIS (WCCO) — A nationwide survey shows more consumers will stay home the day after Thanksgiving.
The survey from Accenture shows only 44 percent of shoppers will hit the stores for Black Friday deals, down from the 47 percent last year. Furthermore, the survey showed consumers will spend either the same or less money this year.
“I do think people will be spending less money,” said shopper Lisa Nyberg. “A lot of my friends and family have mentioned they’ll be cutting back this year. I keep saying I’m going to cut back, but by the looks of it that’s not going to happen.”
Forty-six percent of people surveyed said they’re cutting their holiday spending because of the cost of groceries.
“Groceries are outrageous,” said Nyberg. “A lot of my friends and family have sat down with their kids and prepared them. They told them it’s not going to be Christmas like it used to be.”
NewsRadio 830 WCCO’s Edgar Linares Reports
The survey shows 43 percent of consumers plan to use online retailers. Electronics giant Best Buy plans to have online specials for at-home shoppers.
“I think the economy really hasn’t turned around yet,” said shopper Marty Hogen. “People are still concerned.”
The survey also warns retailers to be prepared for precision shoppers, who get in and get out quickly. The Accenture study finds consumer spending will be “careful” and “controlled.”
Despite the survey’s findings, some retailers at the Mall of America are confident consumer spending will be at least equal to last year.
“The shopping at this store is up,” said Tim Nelson of Hockey Minnesota. “We have three stores in the mall. Two of them are up right now. We expect the dollars will be up on Black Friday.”