U.S. Stores Refused To Remain Opened On the Day of Thanksgiving including Barnes & Noble (NYSE:BKS) and Home Depot (NYSE:HD)
‘Holiday Creep’ is going to hit the markets soon this year. This is when the customers shop well before time, with Jingle Bells playing in the background, knowing that the shops will be closed soon. As per news, the Christmas décor will arrive in the market a bit earlier, and hence it is advised that the customers buy for their Christmas decorations before the stores run out of them.
People of America have kind of followed the hint and have started making their purchases. According to the news, they started piling up and stocking the decorations as early as the month of September.
The latest data reports released by PayPal also supports this, as the company has seen a 62.81 percent increase in the transaction deals starting from 30th September- 6pm to be more precise.
Not only had this, but the next day, October 1, 2014, also seen a rise in online shopping deals made through smartphones. It will not be wrong to say that October 1st was the biggest online shopping day of the year; most of the transactions were made during the 11am to 1pm time slot, which makes completely sense because that is the time when most of the companies, universities and other corporate sector units have their lunch break.
But wait, this is not all. The most astonishing figures were revealed by the accountants of PricewaterhouseCoopers. The company conducted an annual survey on around 2,200 consumers (US), and the results showed that 49 percent of them planned on hitting the stores (either online or physically) on the day of Thanksgiving in order to look for the best deals in town.
These last minute shoppers will have a pretty large array of shops to select from. Moreover, there is high chance that these customers will beat the crowds of Black Friday and get better deals.
Kmart said that their shop will open at around 6am in the morning of holiday, and it will remain opened for straight 42 hours because of their bonanza annual sales. As for Macy’s and Kohl’s, the store plans on starting its day at around 6 p.m. on the day of Thanksgiving. Wal-Mart Stores Inc. (NYSE:WMT), on the other hand, will remain opened all day long: however, its black Friday will start at 6 p.m.
Although holiday creep is putting much pressure on the store owners and big retailers, but most of them have planned to go by the tradition and remain closed on the Thanksgiving Day so that their workers can enjoy the day with their families. The stores that will remain closed include Barnes & Noble (NYSE:BKS), American Girl, HomeGoods, Costco, DSW (NYSE:DSW), Bed Bath and Beyond (NASDAQ:BBBY), BJ’s Wholesale Club, GameStop (NYSE:GME), Dillard’s (NYSE:DDS), Crate & Barrel, Burlington Coat Factory, Home Depot (NYSE:HD), Jo Ann Fabrics, Marshalls, Pier 1, Sur Ja Table and many more.
Where some customers plan on stocking things up in lieu of black Friday, others are of the view that this constitutes as Thanksgiving consumerism.