Dozens of retailers responded to consumer demand by opening stores earlier than ever on Thanksgiving night, including Macy’s, Toys “R” Us, Walmart and Best Buy, to name a few. When asked about the fact that they opened on Thanksgiving for the first time ever, Macy’s President and CEO Terry Lundgren – who admitted to having only slept between 2 and 4 a.m. that morning – told CNBC about 15,000 people were waiting for doors to open last night, compared to 11,000 people last year when the store opened at midnight on Thanksgiving.
It’s clear: a side of shopping fits nicely with millions of Americans’ Thanksgiving Day diet. In all, 33 million people planned to shop in stores or online Thursday, but Black Friday still makes the most of the holiday shopping pie.
NRF President and CEO Matthew Shay joined CNBC’s Squawk on the Street this morning to discuss the impact these earlier openings could have on holiday sales, trends to expect over the weekend and more. Shay also explained some of the factors driving consumer sentiment and how retailers are responding to this mindset to attract shoppers over the holiday weekend. Watch the segment below.