Survey: Black Friday shoppers will spend more green

With only three days until Black Friday, many retailers and e-tailers are ramping up their efforts to draw in consumers. There is a good reason for that: according to a recent poll from Maritz Research consumers will spend a lot of money this Black Friday.

by Kristina Knight

maritz%20research.jpg That money will be spent both on and offline.

According to the poll 37% of respondents said they planned to shop on Black Friday; that is an increase of 3% over 2006 numbers. Consumers to shop on Black Friday say they will spend more than $700 this holiday season. That is also an increase over 2006, when Black Friday shoppers reported they would spend just over $630 for the holiday season.

Which demographics are expected to hit the stores this Friday? The survey found that 59% of Gen Y shoppers will hit stores and 46% of Gen X will shop. However, only about 23% of Baby Boomers are expecting to shop this Friday and only about 20% of the Silent Generation will purchase holiday gifts.

"Black Friday shoppers are looking for discounts, and retailers have already started slashing prices - earlier than ever before," said Gloria Park Bartolone, vice president, Maritz Research's Retail Group. "If retailers can hit the mark with discounts that appeal to Gen X, Gen Y and those with larger household incomes, they might be able to capture more of the larger spend Black Friday shoppers are planning to make. That could make for a better start to what might be a 'blue' Christmas for retailers."