BROKEN ARROW, Okla. — Shoppers are out in force this Memorial Day weekend, but they’re being very strategic about opening their wallets, according to a new survey by Retail-Me-Not.
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“What we’re seeing is more people are showing up for Memorial Day sales this year than they have in the past, but they’re bringing less money,” said Stephanie Carls with Retail-Me-Not.
The survey found 54% plan to shop, which is up from just 36% last year. However, the amount they plan to spend on average is down significantly.
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“The average spend dropped from $289 to $86, and that is a 70% decline. And that gap is, I think, something to pay attention to, because what we’re seeing is that consumers aren’t checked out. They’re just being more disciplined about how they are letting holidays and their spending, how much they’re going to let that holiday cost them. And we saw the same pattern with Easter, as well as the spending for Mother’s Day. So, this is becoming a very consistent behavior for the year,” said Carls.
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Broken Arrow mom Jenni Walker told 2 News Oklahoma that she anticipates at least checking out sales, but isn’t sure if she will be opening her wallet.
“My mom is coming in town from Minnesota here soon, so we probably will end up at the outlet mall, which is my guess to just walk around a little,” said Walker.
As for what those willing to spend are looking for, Carls said, “We asked what people are planning on buying, we had grills and outdoor cooking gear. This led at 28%. You have summer apparel, there was a 27%, home goods, 21%.”
One big-ticket item will see especially good discounts.
“You’ll see mattresses actually at the steepest discount of the year during Memorial Day weekend,” said Carls.
But retail experts caution you won’t likely find exceptional deals on tech gear or back-to-school clothes and gear. Those discounts are much more substantial later in the summer.
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