BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

Blame Millennials For Thanksgiving Day Shopping

Following
This article is more than 9 years old.

There have been volumes written about the new trend of Thanksgiving Day shopping, but the simple fact is that it's happening because people want it to. Not the retailers, like Wal-Mart and Target, but the shoppers--specifically, millennial shoppers.

Three quarters of the people who shopped on Thanksgiving Day in 2013 will do so again this year. The total number of Turkey Day shoppers is down, from 23.5% to 18.3%, according to the National Retail Federation (NRF). But it's still a lot of folks willing to spend money on a day that many think is sacrosanct.

For those looking to point fingers, there is one age group in particular more likely to turn out for Thanksgiving Day shopping: Millennials.

According to the NRF, nearly 80% of 18-24 year olds will or may shop over the weekend, the highest of any age group. Specifically, nearly one-quarter will shop on Thanksgiving Day, down slightly from 27.8% last year.

Older shoppers may be up in arms about store openings on Thanksgiving day but half of all U.S. consumers between 18 and 34 think all-day shopping on Thanksgiving is a swell idea, according to a new survey by LoyaltyOne. And they're likely to head to the malls.

It may come as a surprise to some, but this very digital generation born roughly between 1980 and 2000, still prefer to shop in physical stores.

“For younger shoppers, shopping on Thanksgiving and Black Friday is as much a social experience as it is a buying mission,” said Prosper’s Principal Analyst Pam Goodfellow. “While these shoppers may not have the biggest holiday budgets or the longest shopping lists, they still enjoy the ‘tradition’ of heading out with friends and family on two of retail’s most exciting shopping days.”

These aren't just kids either. Older millennials are young adults, many with new families and homes. This is the group most likely to need the kinds of deals and discounts being offered by retailers. It's a perfect combination of youth, need and desire for social connection -- the kind that will open stores on Thanksgiving Day for many years to come.

Follow me on Twitter or LinkedInCheck out my website