Eyeing holiday sales, more US retailers to open on Thanksgiving Day

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SummaryMacy's Inc and a slew of other US retailers are opening on Thanksgiving for the first time ever in a bare-knuckled brawl for a bigger slice of overall holiday sales.

be cold and dry which are the two things you want for foot traffic over Black Friday weekend."

At Macy's flagship store in New York City, five hundred employees will be working on Thanksgiving Day. The store, two blocks from the Empire State Building and one of the Big Apple's most visited tourist sites, will be open for 26 straight hours, starting on Thursday at 8 p.m. EST, spokeswoman Elina Kazan said.

INCOME GAP

While U.S. home prices and stock market gains have many upper-income shoppers feeling more confident, data from ConsumerEdge Research's tracking study indicates that there may have been a sharp pullback in consumer spending so far this month.

Low-income shoppers, who often face dismal work prospects and struggle to make ends meet, have been hard hit this year by a reduction in government food stamp benefits.

High earners are better off, but they are concerned about rising healthcare costs and the prospect of yet another U.S. government debt fight on Capitol Hill early next year. They also worry that home and stock prices may be topping out and that the job market may not see further gains.

"They're not rushing out on huge shopping sprees," said ConsumerEdge analyst Peter Reidhead. "We'd be surprised if a strong upswing in December can offset the weak November results and the shorter shopping cycle."

A new survey from Deloitte suggests that fewer shoppers will hit stores on Thanksgiving and Black Friday this year versus last year.

Among holiday weekend shoppers, 13 percent plan to shop in stores on Thanksgiving, down from 23 percent last year, according to the online survey of 1,000 consumers.

Black Friday has for years been the official kickoff of holiday shopping season and is still is predicted by ShopperTrak to be this year's biggest day of the season for sales and traffic. This year, 53 percent of survey respondents said they planned to shop the on the day after Thanksgiving - down from 63 percent in 2012.

Holiday weekend shoppers also said they planned to split their budget evenly between online and in-store purchases.

"Thanksgiving is the fastest growing day for e-commerce during the holiday season," said Andrew Lipsman, comScore's vice president of marketing and insights. "There is a broader cultural norm where people feel it's OK to shop on Thanksgiving."

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