Thanksgiving Day: To Close or Not To Close, That Is The Question

by Intrepid Payment Processing
Turkey Bird SignThe scenario reads as the follows: simply put, what are some of the issues of retailers who wish to either close or open on Thanksgiving Day? How do customers feel about this? Is there really a profit to be made by staying open, especially with Black Friday and a weekend following the day after?Our post below covers these above issues in an attempt to find out, “Is it really worth staying open on Thanksgiving Day?”
Stores That Close On Thanksgiving DayTraditionally speaking, Thanksgiving is one of the most awaited holidays celebrated in the United States. Other than for food-related items, not much gift buying is actually done on that day.

This is a day to gather with loved ones, eat fine meals and excitedly watch the fall football games. Watching the Thanksgiving Parades televised during the day are other time-honored traditions still kept by many segments of the population. In addition, people are still traveling en route to reach their cherished destination by dinner time.

Re-thinking retail marketing strategies include simply offering really low prices, great value, unique products, significant discounts and rebates and the convenience of shopping online from major outlets.

Recent statistics offer diverse facts.

  • 92.1 million customers shopped on Black Friday in 2013.
  • The average amount spent from Thanksgiving Day to the following Sunday is $407–down 4 percent from 2013.
  • Online buying on Thanksgiving Day was up by .05 percent or 248.7 million customers.
  • Shoppers that were physically in the stores by 5 p.m. on Thanksgiving Day were down by 4.9 percent.

Shoppers in certain geographical regions have different shopping preferences than other parts of the country. Further broken down by age groups, you have even greater revealing figures.

That said, millennials lead with 13 percent more purchases than adult shoppers on the Thanksgiving weekend–but not on Thanksgiving Day.

Stores That Remain Open On Thanksgiving Day

In recent years, some retail stores have inculcated the masses with a need to begin their Christmas holiday shopping not only on Black Friday, but on what some consider a sacred holiday to be enjoyed with our family and loved ones–Thanksgiving Day itself.

Hoping to take away some buying power from other closed retailers, those merchants who prefer to stay open on Thanksgiving Day find that total sales made on that day, as opposed to what it cost to stay open, simply was not worth it in some cases.

Knowing that many major stores open the very following day and that their laptop or digital device is only a credit card away from the eagerly awaited sales, takes away from the need of having to run out on one of the busiest days of the years to make lines and get crushed by other shoppers.

This past year, Thanksgiving Day and Black Friday saw record-breaking online retail sales generated by a growth in mobile sales. That said, Black Friday online sales were 63.5 percent higher than those that took place on Thanksgiving Day. Who really wants to go to the stores, and fight it out with others? We don’t, and we doubt that you do either.

Copyright 2015 Intrepid Payment Processing