A robust stock market and high levels of consumer confidence means good news for retailers this holiday season. But that doesn’t mean Black Friday will be a blow-out.
Holiday spending is expected to double this year over last, according to an annual report from Brand Keys, a New York-based brand loyalty and customer engagement research consultancy.
“Generally good economic news has consumers signaling a 4% increase in their holiday spend this year to an average of $936 per household,” said Robert Passikoff, founder and president of Brand Keys.
The survey also found that consumers have adopted new shopping patterns when it comes to the holidays and calendar events, particularly the winter holidays. Last year, 41% of consumers reported shopping before Black Friday. This year that number has increased significantly, with just over half the consumers (51%) reporting they had already shopped or intended to do so before Black Friday, a shopping period known as ‘Black November.’
“Super Saturday has overtaken Black Friday in actual sales,” noted Passikoff. “So while Black Friday represents a retail raison d’être, it is…