The big debate this year among big-box retailers is not whether they will open on Thanksgiving but whether they keep their stores open all night.
On one side is Target, which said Monday it will join Best Buy and Macy's, which have closed their stores in the overnight hours in recent years. They have found less payoff in staying open during the wee hours when traffic dwindles now that their stores are open earlier on Thanksgiving evening.
On the other side is Kohl's, J.C. Penney and Toys 'R' Us, which are sticking with their open all-night hours this year as they have done the last several years.
Staffing during the overnight hours may not be worth it not only because the stores can be dead but also because consumers can now access most of those same deals online at any hour of the day, said Neil Saunders, managing director of GlobalData Retail.
"Staying open all night is not very economical," he said. "If you're not getting the sales, it's not worth it. It also shows that Black Friday is not as important as it once was."
The retailers who continue to pull all-nighters are trying to hang onto every sale they can amid a difficult retail environment, Saunders said. Those retailers also tend to be inching their store opening times on Thanksgiving an hour earlier this year.
"Some of the ones who are struggling are doing that," he said. "They are desperate to get people into the stores and to get people spending."
Toys 'R' Us, which said Monday it will open at 5 p.m. on Thanksgiving and won't close until the following night, recently filed for bankruptcy.