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A record 186.9 million customers are expected to shop from Thanksgiving Day through Cyber Monday this year, according to a survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics.
“The holidays are an important part of many consumers’ budgets, and that trend is especially true this season,” says Katherine Cullen, NRF vice president of industry and consumer insights. “As a record number of shoppers are expected this Thanksgiving weekend, retailers are prepared to meet the needs of consumers with great value and convenience.”
Black Friday remains the most popular day to shop, with 130.4 million (70%) of shoppers, followed by Cyber Monday, with 73.9 million, 40% of shoppers expected to shop online. 67 million shoppers, 36% are expected to shop on Saturday and of those, 80% say they are considering shopping to support Small Business Saturday.
“Many Americans consider shopping to be an important part of their Thanksgiving holiday and one of the best ways to get deals on gifts,” says Prosper Insights & Analytics executive vice president of strategy Phil Rist. “Of those planning to take advantage of sales, over half say it’s because the deals are too good to pass up. Others point to the tradition or simply say they like to start their holiday shopping during the long weekend.”
As of early November, 58% of consumers said they have already started their holiday shopping. On average, holiday shoppers have completed around one-quarter, 26%, of their planned purchases by this time.
The top items consumers plan to gift are clothing and accessories (50%), gift cards (43%) and toys (32%). The leading sources of inspiration continue to be online search (41%), friends and family (35%), within a retail store (28%) and wish lists (23%).
Around two-thirds of shoppers plan to give this season, with the top ways including donating financially to a charity or cause (32%), donating items to a charity or cause (31%) or purchasing from retailers or brands that donate to social causes (20%).
NRF also forecasted holiday spending numbers this year, reporting an expected $1 trillion to be spent during November and December.
