If you didn’t think the holiday shopping season was a fierce, competitive battle between retailers all over the United States then one glance at the growing Gray Thursday trend will open your eyes.
More retailers announced their intentions for Thanksgiving Day, a time when consumers traditionally swap credit cards and shopping bags for turkey, mashed potatoes and stuffing for the day. Sears, the fledgling department store, noted that it will be opening its doors at 6 p.m., an earlier time than last year’s 8 p.m. Black Friday launch.
This means that Sears will be joining its rivals Macy’s and Kohl’s. J.C. Penney, meanwhile, tried to outdo their adversaries by announcing it would open their doors at 5 p.m. on Thursday. Walmart and Target have not confirmed when they intend to open on either Thanksgiving or Black Friday.
“This holiday season is all about giving more to our members and because many like to start shopping well before Black Friday, we’re excited to open our doors early on Thanksgiving and offer other early access opportunities for them to shop and save,” said Leena Munjal, senior vice president, Sears Holdings, in a statement. “I’d also like to especially thank our seasonal associates and those who have volunteered to share part of the day serving our members on Thanksgiving.”
Indeed, the so-called “holiday creep” seems to be occurring earlier and earlier each year. Business analysts ponder why businesses just don’t stay open all day on Thanksgiving and completely forego the idea of launching a few hours before Black Friday, which some industry experts say will happen in a couple of years.
Retailers usually cite that the Internet is open 24 hours a day and seven days a week so these bricks and mortar establishments need to remain competitive.
According to Britt Beemer, founder of America’s Research Group, who spoke with the Los Angeles Times, no company will start at 4 p.m. because this would certainly be an encroachment by these enterprises. Since most families have Thanksgiving meals between 1 p.m. and 4 p.m., the consumer would be enraged if a Sears or a Macy’s would commence the holiday rush by mid-afternoon.
Nonetheless, it is another depiction of how intense the holiday shopping season has become since the financial crisis a few years ago when retailers feared consumers would hide their wallets because of concerns about their personal finances, the credit crunch and labor market.
Although many people may dislike the fact that consumers are shopping for stuff rather than spending time with family at home, there is a demand for this as shoppers stand outside in long lines for hours. Companies wouldn’t be doing this if they didn’t notice a demand for this move. Also, it can give employees some extra cash with incentive pay and bonuses.
There are some retailers, though, that are fighting off this urge to give up Thanksgiving. An array of retailers have led the charge to give employees time off and to allow consumers to actually be with their family on the special holiday. Some of these businesses include Costco, Barnes & Noble, Sam’s Club, Home Depot, Nordstrom, TJ Maxx and Marshall’s.
“We just feel our employees work hard, and it’s a holiday that typically is when friends and families get together,” said Richard Galanti, Costco’s chief financial officer, in a statement. “They deserve the day off.”
Perhaps these retailers are understanding public sentiment over this practice. A study released last month by RichRelevance discovered that more than one-third (36 percent) of Americans “hate” the idea of shopping on Thanksgiving and another quarter (26 percent) “dislike” it. Twelve percent like it.
Sure, the general public may detest the idea of shopping on a day like Thanksgiving, but maybe they’re too enticed by the 55 percent discount on a toaster. Last year, store traffic increased 27 percent on Thanksgiving.