July 29, 2020
Thanksgiving Day is slowly returning to a national holiday from the retail ecosystem. Big box stores Best Buy and Target are joining Walmart in not being open on Nov. 26.
“We can all agree that, so far, 2020 has turned out differently than what we might have expected,” Best Buy said in a statement. “And now, the holiday season at Best Buy, including Thanksgiving Day, is going to look different, too.”
Indeed, consumers looking for door specials on big screen televisions, computers, soundbars and DVD/Blu-ray Disc movies will have to wait 24 hours for Black Friday deals. Best Buy, which has been open on Thanksgiving since 2013, reiterated that consumers can still shop on BestBuy.com and via the Best Buy app on Turkey Day.
The announcement follows last week’s disclosure that retail sales are up 255% in the current quarter compared with a year ago — driven by purchases of computers, appliances and tablets.
“Although this holiday season may certainly look different, we’re ready to once again be there for our customers how, when and where they need us, during the most exciting time of the year,” the retailer said.
Target, like other chains, is accommodating the Thanksgiving Day closure by offering special deals before and after Nov. 26.
“This year more than ever, a joyful holiday will be inseparable from a safe one, and we’re continuing to adjust our plans to deliver ease, value and the joy of the season,” said CEO Brian Cornell.
Walmart, which was the first major retailer to change it Thanksgiving Day operations, has been a perennial home entertainment retail leader over the Black Friday holiday weekend, which typically began with special deals on Thanksgiving.
That decision was in tandem with corporate announcing plans to spend $428 million on special cash bonuses to store, club, distribution center and fulfillment center associates for their ongoing contributions during the coronavirus pandemic.
“We know this has been a trying year, and our associates have stepped up,” said John Furner, CEO of Walmart U.S. “We hope they will enjoy a special Thanksgiving Day at home with their loved ones.”
Regardless, brick-and-mortar sales on Thanksgiving Day have been waning, up just 2.3% in 2018, according to First Data, with an average ticket amount of $60, a $1 increase over 2017.
Adobe Analytics contends retail trends continue push e-commerce. A record $9.4 billion was spent online by the end of Cyber Monday (Dec. 2) in 2019, up 19.7% from 2018. It was the largest online shopping day of all time in the U.S., topping $7.9 billion spent in 2018.