An estimated 164 million shoppers will turn out online, in-store this weekend.
NORTH AMERICA–Although roughly 56 percent of U.S. holiday shoppers have already begun their seasonal shopping, millions are expected to turn out for the biggest holiday shopping weekend of the year.
According to the National Retail Federation’s preliminary Thanksgiving Weekend survey, an estimated 164 million shoppers (69 percent of Americans) are planning to shop or are considering shopping on Thanksgiving, Black Friday, Small Business Saturday/Sunday and Cyber Monday, a 10 percent increase compared to last year’s estimated 137.4 million shoppers.
“This year, we updated our survey to more accurately capture consumer behavior throughout the entire shopping weekend–Thanksgiving Day through Cyber Monday,” says Matthew Shay, president and chief executive officer, NRF. “Consumers will benefit from competitive promotions both in stores and online lasting the course of the weekend, allowing them to find the best gifts at the lowest prices.”
Of those who plan to or are anticipating they will shop online or in-store over the weekend, most consumers will shop on Black Friday (70 percent), though 20 percent say they will take advantage of retailers’ Thanksgiving Day deals. Meanwhile, a substantial 43 percent of consumers are expected to shop on Saturday and 21 percent on Sunday. On Monday, 48 percent expect to shop.
Furthermore, of those shopping, 66 percent said they’re doing to take advantage of deals and promotions retailers will offer, while 26 percent cited the tradition of shopping over Thanksgiving weekend and 23 percent stated it’s something to do over the holiday weekend. Another 23 percent also said it is when they begin their holiday shopping.
While many consumers will take advantage of the Thanksgiving Weekend deals, 31 percent of consumers will refrain from shopping that weekend. Of those not planning to participate, 52 percent won’t shop because they do not enjoy the experience and 51 percent say they never shop during Thanksgiving weekend. In addition, 46 percent said nothing would change their mind, but 27 percent said a good sale or discount on an item they want could get them to shop.