Retailers Ramp Up For Holiday Shopping Competition

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Who would cut their family time short during the holidays just to save money while shopping? 

According to a Marketing Pilgrim, the answer is: a lot of people.

Major retailers are gearing up for “holiday wars” this season, amidst reports that consumers are willing to spend more and more often during the holiday season. If numbers never lie, retailers should be ignoring sentiment and looking to maximize profits all November and December long – Thanksgiving and Christmas Day included. Take the following stats into account:

The percentage of holiday shoppers grew from 15 percent in 2008 to 22 percent last year, according to AdAge. Marketing Pilgrim expects that number to reach 25 percent in 2012.

On RetailMeNot.com, consumers reported saving more on Thanksgiving than on Black Friday a year ago, and said they spent five percent more on the November’s final Thursday as well.

Amazon.com has taken an especially aggressive approach to the holiday season, launching a Black Friday Deals Week in an attempt to gain a leg up on the holiday competition.

And finally we’ve seen major retailers such as Target and even PayPal offer price-matching guarantees during the holiday season, in what is in many ways the ultimate attempt to attract consumers.

One Marketing Pilgrim quote sums up the current holiday retailer atmosphere best: “retailers who were vilified last year for daring to put profits above family time went laughing all the way to the bank when it opened the next day.”

We can expect to see that trend continue in 2012.

To read more holiday shopping stats and trends, click here.