There are fewer holiday shopping days after a late Thanksgiving this year, and that is a good situation for retailers, according to Marshal Cohen, chief retail adviser for market research, analytics and consumer shopping behavior specialist Circana.
Noting that consumers have the same number of friends, family and others to buy gifts for as they would with a longer stretch between Thanksgiving and Christmas, Cohen said the compressed post-Thanksgiving holiday shopping period should result in a more frenzied purchase environment, especially for physical stores.
“It presents an opportunity for marketers,” Cohen said. “The good thing about fewer shopping days leading up to Christmas is that the frenzy level is intensified. More frenzy means more excitement and more impulse shopping. And impulse shopping is critical to retail growth, particularly at brick-and-mortar stores.
“While online shopping may be less affected due to shipping deadlines, the frenzy continues to build in physical stores,” he continued. “With fewer days to shop, consumers are more likely to make spontaneous purchases, contributing to retail growth during the holiday season.”
Cohen noted that the traditional pattern of holiday shopping has shifted, with three spending peaks — early fall retail promotions, Thanksgiving weekend and a December stretch prior to Christmas — separated by lulls. More than 20% of holiday shoppers won’t start until sometime in December, he said.
“The shorter shopping period between Thanksgiving and Christmas does not dampen consumer spending,” Cohen said. “Instead, it intensifies retail opportunity. Retailers and manufacturers must strategize to capture the attention of consumers during the limited shopping days and make the most of this retail frenzy. When there is less urgency to shop from a value-driven, deal-seeking consumer, with few hot products being sought out, the holiday timing frenzy becomes retail’s best friend.”
