Favorable weather should ensure that people will be out on Friday, the survey says. And though more than two-thirds of households have started their shopping, less than 5% are done, it found. The larger the household and the younger the family members, the more likely its members will shop on Black Friday, ICSC says.
"With only a few days left to the traditional start of the holiday season, retail sales continue to improve as consumers begin their holiday shopping," says Michael Niemira, ICSC's chief economist and director of research, in a statement. ICSC expects same-store sales to increase 3% to 4% over November and December. Same-store sales in October rose by 4.1%, ICSC found. The survey predicts that J.C. Penney will fare especially well, with a same-store sales jump of 12%.
Meanwhile, National Retail Federation officials predict that about 130 million people will shop on Black Friday. The NRF predicts holiday shopping will increase 4.5% from the same period last year.
In a survey earlier this month, the NRF found that most consumers, 34.7% plan to make their purchases with check or debit cards. It also reported that only one in 20 consumers has finished their shopping.
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