Why a Turkey-Day Timeout Is Good for Retailers

In recent years, many retailers have opened on Thanksgiving Day, in an effort to jump-start Black Friday sales. However, the choice to open or remain closed on this holiday has always been hotly contested. Retailers such as Target and Walmart announced earlier this year that they will close this Thanksgiving.

As it stands, 83% of U.S. adults are in support of retailers closing on Thanksgiving to give all workers a holiday. Eighty percent of respondents will also be likely to shop at retailers in the future if they choose to make Thanksgiving a holiday for all.

Upon a closer look at the figures, adults aged 55 and up are clearly both the most in support of retailers who close for the holiday and the most likely to shop at these retailers in the future. Notably, younger adults are the most opposed, with only 59% supporting retailers who will close. The 18 to 24 age group is also roughly twice as likely as any of their counterparts (age group-wise) to say they wouldn’t shop at a retailer whose doors are closed on Thanksgiving Day.

Americans who are financially better off than they were before the pandemic are also the most supportive of retailers taking a Turkey Day time-out.

Perhaps some of the support for closing on Thanksgiving comes from an overall shift in shopping intention. As the data show, those who are spending less this holiday season are also the most in support of the Thanksgiving Day closures. This suggests that some shoppers may be prioritizing quality time over material purchases this year. 

But holidays aside, those who are generally shopping in stores more than they usually would this time of year are the most likely to shop at a retailer who closes for Thanksgiving. This suggests that while stores may fear losing revenue, consumer intent tells a different story: that in fact, stores may financially benefit from closing on Thanksgiving, after all. 

Both Walmart and Target favorable consumers are just as likely to shop at a retailer who closes on Thanksgiving Day. Ultimately, both retailers may stand to gain from a closure.