Millennials More Likely than Boomers to Brave Black Friday Lines, hhgregg Survey Finds

Retailer says holiday shoppers are energized, educated yet weary heading into the holiday shopping season

INDIANAPOLIS--()--Make your list and check it twice, because the holiday shopping season is upon us. This year hhgregg (NYSE:HGG) – a leading appliance, electronics and furniture retailer – is monitoring how shopping habits and patterns are evolving as technology, trends and consumer purchasing mindsets shift. According to an hhgregg-commissioned survey of 3,500 shoppers across the U.S., Millennials are more likely to visit stores on Black Friday than Boomers (63 percent vs. 40 percent). Additionally, more people plan to shop on Cyber Monday (48 percent) than on Black Friday (47 percent), and many (26 percent) plan to visit 10 or more stores to complete their holiday shopping.

“We want to know better than anybody else what shoppers want this holiday season and what the trends will be, so we are ready for them online and in our stores,” said Dennis May, CEO of hhgregg. “This survey has given us advance insights into what people are looking for, allowing us to offer the best deals and selection to make absolutely sure that people love the gifts they purchase from hhgregg.”

Among the survey findings:

There is a generational divide despite many planning to shop on Thanksgiving, Black Friday and Cyber Monday:

  • 73 percent of shoppers find Black Friday frustrating and overwhelming; lines and crowds are top complaints
  • Four in 10 Millennials say that Black Friday is fun and gives them a rush
  • 58 percent of Generation X plans to shop on Cyber Monday compared to 56 percent of Millennials, and 37 percent of Boomers

Shoppers willing to search far and wide for the perfect holiday gift and price:

  • 60 percent of shoppers will use their mobile device to help them compare prices at multiple stores
  • 26 percent of shoppers will visit 10 or more stores to complete their holiday shopping
  • 56 percent of people say a technology item is #1 on their wish list
  • 65 percent of shoppers will complete their holiday shopping within the last two weeks before Christmas
  • Millennials plan to finish 65 percent of their holiday shopping on Black Friday and Cyber Monday alone

Spouses ranked #1 worst holiday gift givers, with dads and siblings not far behind:

  • Nearly 1/4 (24 percent) of people list their spouse/significant other as the worst holiday shopper in the family, followed by “dad” (18 percent) and “sibling” (18 percent)
  • 81 percent of shoppers plan to spend $100+ on gifts for their spouse/significant other, but half (50 percent) expect their spouse to spend less than $100 on them

Additional Findings:

  • 53 percent of people have re-gifted a holiday present
  • 73 percent of shoppers look for a gift the whole family can enjoy when holiday shopping
  • 84 percent of people prefer giving gifts than receiving them (93 percent of Boomers, 72 percent of Millennials)
  • The top items on holiday wish lists include clothing (14 percent), laptops (12 percent), HD televisions (11 percent) and tablets (10 percent)
  • 8 percent of shoppers said they would be willing to eat a spider if it meant they could skip to the front a Black Friday store line
  • After-Christmas deals continue to be attractive with 59 percent of respondents planning to shop during after-Christmas sales

“Having learned about the products at the top of shoppers’ wish lists, we’ve got everyone covered,” added May. “We’re offering deals like the iPad Air for $299, Samsung 55-inch smart TVs for $598, 4K TVs at up to 40 percent off and many more gifts that won’t hurt our customers’ wallets.”

hhgregg will open its stores at 4:00 p.m. this Thanksgiving, then close at midnight before opening again at 7:00 a.m. on Black Friday. In addition to doorbusters, hhgregg’s Black Friday Now promotion offers up to 40 percent off storewide for 10 days beginning Thursday, Nov. 20 through Saturday, Nov. 29. Online shoppers will find top brands at low prices at hhgregg.com featuring hourly deals on Thanksgiving, Black Friday and Saturday. Additionally, mobile shoppers can get deals on-the-go with hhgregg’s app for iOS or Android.

The hhgregg survey was conducted by Edelman Berland among 3,500 respondents 18 years and older via an online survey in November 2014.

To see more consumer survey results and for details on everything hhgregg is doing this holiday season, visit hhgregg.com. You can follow hhgregg on Twitter at @hhgregg or Facebook at facebook.com/hhgregg for the latest on Thanksgiving and Black Friday deals.

ABOUT hhgregg

Founded in 1955, Indianapolis-based hhgregg is a multi-regional retailer with 228 brick-and-mortar stores in 20 states. hhgregg's product assortment includes market-leading brands in consumer electronics, home appliances and technology, along with high-quality products for the home. The retailer's online presence (hhgregg.com) and mobile apps (iOS and Android) give consumers nationwide access to global and local lifestyle and home products. hhgregg ranked “Highest in Customer Satisfaction among the Largest Appliance Retailers” and “Highest Ranked Appliance Retailer Website” in the J.D. Power 2014 Appliance Retailer Satisfaction StudySM. For J.D. Power award information, go to www.jdpower.com. Additionally, hhgregg is recognized as one of Internet Retailer's Top 500 fastest growing retail e-commerce sites in 2014. Find hhgregg on Facebook at facebook.com/hhgregg and on Twitter at @hhgregg.

Contacts

Edelman
Emily Teeter
404-460-1495
emily.teeter@edelman.com
or
hhgregg
Jeff Pearson
317-816-1529
Jeff.Pearson@hhgregg.com

Release Summary

Leading appliance, electronics and furniture retailer hhgregg releases survey findings that point to shopping trends and consumer purchasing mindset for the holiday season.

Contacts

Edelman
Emily Teeter
404-460-1495
emily.teeter@edelman.com
or
hhgregg
Jeff Pearson
317-816-1529
Jeff.Pearson@hhgregg.com