Regardless of age, it is a time for celebration and shopping. But who is going to be shopping after eating turkey on Thanksgiving and who is going to be staying at home?
According to Socratic Technologies
- 20% plan to shop in stores on Thanksgiving Day
- 31% on Black Friday
- 34% Millennials will shop on Thanksgiving, with 51% in malls and stores on Black Friday
- 29% Gen Xers will shop on Thanksgiving, 36% on Black Friday.
- 23% Boomers on Black Friday
- 8% Retirees on Black Friday.
It is a generational issue with Retirees and Boomers staying home and Millennials shopping in stores. The reason is over the last few years, shopping at home online has revolutionized holiday shopping. More and more people are choosing to shop online, available 24 hours a day, over the hustle and bustle of shopping malls.
In any event, of those going out on Black Friday it will comprise 40 percent of total holiday spending, while over 33% will be done online. WOW. Look at that change folks. MerchantZoom Inc can help you process your payments online safely.
- 60% of Millennials will wait till the week leading up to Christmas
- 54% of Gen Xers
- 35% percent of Boomers
- 27% percent of Retirees.
- As age increases shopping in-store during peak shopping days decreases.
In an effort to improve in-store user experience and boost sales, brick and mortar businesses need to invest in the latest payment technologies including Apple Pay and Android Pay. MerchantZoom Inc can help you with that.
The younger generations will be driving in-store purchases during peak shopping days this holiday season and merchants need to be prepared to accept these emerging mobile payments options. If you don’t take mobile payments they could be offended.
- Average Budget $753
- Millennials $865 (mobile payments)
- Retirees $646 (not mobile payments)
Word on the street is the average household will add $956 (Fox News 11/21/2016) to their credit card debt this season over-all. So credit cards are king over cash this year.
Headquartered in Pinole California, MerchantZoom, Inc. was founded by Wally Arakozie. Previously employed by one of the largest merchant processing companies here in California for nearly a decade. Since the company’s beginnings MerchantZoom, has grown into a reputable national merchant provider. Along with delivering state of the art technology and competitive rates, MerchantZoom, thrives on personalized local customer service and support. In order for your business to ZOOM!
759 Appian Way Ste 1A Pinole, CA 94564
Content Release Date Nov 21, 2016 – MerchantZoom Inc.