Predictions from the National Retail Federation (NRF) annual forecast of holiday retail sales, in November and December, consumer sales will be between $727 billion and $730 billion.
165.3 million | Number of people who say they are likely to shop between Thanksgiving Day through Cyber Monday
“The tradition of Thanksgiving weekend holiday shopping has become a five-day event with consumers spending money in stores, supporting local small businesses, and online with their mobile devices and computers,” NRF President and CEO Matthew Shay said. “Even as people are starting to purchase gifts earlier in the season, consumers still enjoy finding good Thanksgiving deals and passing time shopping with family and friends over the long holiday weekend.”
The number of consumers considering shopping between Thanksgiving and Cyber Monday
39.6 million | Number of consumers considering shopping on … Thanksgiving Day
114.6 million | … Black Friday
66.6 million |… Small Business Saturday
33.3 million | … Sunday
68.7 million | … Cyber Monday (online shopping)
Younger consumers are more likely to shop over the Thanksgiving weekend
Among those ages 18-24, 88 percent say they are likely to shop and particularly enjoy the social aspect.
84 percent of those ages 25-34 plan to shop. That compares with 69 percent of holiday shoppers overall.
“While the long weekend always draws shoppers of all ages to take advantage of the irresistible deals and promotions that retailers are offering, we’re seeing a change in how the younger consumers see the weekend.” Prosper Insights Executive Vice President of Strategy Phil Rist said. “Compared to older generations, younger consumers under the age of 35 are more likely to be attracted by the social aspects of shopping over the weekend or by the fact that it is a family tradition.”
Of those planning to shop, there is an almost even split of people who plan to start their shopping in-store (47 percent) compared with those who plan to start online (41 percent). Those under 25 are even more likely to say they expect to start shopping in-store (52 percent).
The top reasons consumers are planning to shop during Thanksgiving Weekend
65% | The deals are too good to pass up
28% | Traditional time when survey participants start holiday shopping
22% | Something to do over the holiday
21% | It’s a group activity with friends/family
Top reasons that can cause non-shoppers to shop during the Thanksgiving Day weekend
26% | A sale or discount
12% | A family member or friend invites them to shop
11% | If they were sure the items they want are available
11% | Free shipping offer