Retailers Await a Super Duper Saturday
Some call it Super Saturday. Others call it Panic Saturday.
In any case, the last Saturday before Christmas this year is expected to see a super turnout of shoppers scrambling for last-minute gifts. Nearly 142 million consumers plan to shop that day, according to the latest survey from the National Retail Federation and Prosper Insights & Analytics.
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That’s a significant increase from the last time Super Saturday fell on Dec. 23, when 126 million consumers were expected to shop on that day in 2017, according to the NRF.
In recent years Super Saturday has emerged as the biggest revenue-generating day of the year for retailers, surpassing even Black Friday. If Christmas fell on a Sunday, Super Saturday would be designated as on the prior weekend.
“Traditionally, Super Saturday marks the final major shopping holiday of the year,” NRF president and chief executive officer Matthew Shay said in a statement Wednesday. “While most consumers still have plenty of shopping left to do, retailers are prepared both online and in stores with gifts, decorations and other items that people need to make this season fun and memorable.”
Retailers expect mediocre revenue gains this holiday season, in the 2 to 4 percent range on average. But the calendar this year works in their favor, with a full weekend before Christmas Day, which falls on a Monday.
NRF and Prosper surveyed 7,973 adult consumers about their holiday shopping plans from Dec. 1 to 6. The survey has a margin of error of plus or minus 1.1 percentage points.
According to the findings, about 53 million people, or 37 percent of Super Saturday shoppers, expect to shop exclusively in stores this year, up from about 44 million, or 28 percent last year, and 58 million, or 41 percent, plan to shop both online and in stores. Around 31 million (22 percent) plan to shop exclusively online.
As of early December, holiday shoppers have picked up 49 percent of the items on their shopping lists. For those who still have more than half of their shopping remaining, 36 percent indicated they are still figuring out what to buy.
NRF believes many consumers are holding out for better deals. So far, price promotions, according to sources contacted by WWD, have been largely pre-planned and running on schedule, and not driven by desperation to move product. Right now retailers are in the midst of a post-Cyber Monday shopping lull, which occurs each year, and expect to regain momentum 10 to 14 days before Christmas.
In November, 85 percent of Thanksgiving weekend shoppers said they expected the deals during the rest of the holiday season to be the same or better than Thanksgiving weekend.
“This year Super Saturday is truly aligned for last-minute shoppers,” said Prosper Insights & Analytics executive vice president of strategy Phil Rist. “A majority of consumers also plan on purchasing their last gift in the week leading up to Christmas.”
Popular destinations where consumers will finish their shopping include online (49 percent), department stores (38 percent), discount stores (28 percent), clothing and accessories stores (26 percent), and grocery stores (19 percent).
So far the top gifts consumers have purchased are clothing (50 percent), toys (34 percent), gift cards (27 percent), books and other media (24 percent), and personal care or beauty items (23 percent).
Retailers could see continued momentum after Christmas Day well into January as gift cards get redeemed for merchandise and returns are made. According to NRF/Prosper, 70 percent of consumers said they plan to shop in the week following Dec. 25.
NRF expects spending for the holiday, which the organization defines as November and December, to grow between 3 and 4 percent over 2022, totaling $957.3 billion to $966.6 billion. Last year, holiday sales totaled $929.5 billion.
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