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Report: 164M Plan to Shop During Thanksgiving Holiday

Report: 164M Plan to Shop During Thanksgiving Holiday

According to an annual survey released by The National Retail Federation, an estimated 164 million people are planning to shop from Thanksgiving Day through Cyber Monday.

The survey found that of those planning to shop during the long holiday weekend, 21 percent (34 million) plan to shop on Thanksgiving Day, but Black Friday will remain the busiest day with 71 percent (116 million) planning to shop.

Forty-one percent (67 million) are expected to shop on Small Business Saturday, and 78 percent of those say they will do so specifically to support small businesses. On Sunday, 20 percent (32 million) are expected to shop. The shopping weekend will wrap up on Cyber Monday, when 46 percent (75 million) are expected to take advantage of online bargains.

“Whether it’s heading to the stores after finishing their turkey or going online on Cyber Monday, consumers will be shopping all weekend and retailers will be ready to meet the demand,” says Matthew Shay, president and chief executive officer, NRF. “Retail is a vibrant, dynamic and competitive industry, but one thing is certain–consumers are the winners no matter which day or which way they shop.”

This year, 65 percent are shopping to take advantage of deals and promotions retailers will offer, while 26 percent cited the tradition of shopping over Thanksgiving weekend. Twenty-three percent said it is something to do over the holiday weekend, and the same number said the weekend is when they start their holiday shopping.

“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,” says Phil Rist, executive vice president, strategy, Prosper Insights. “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.”

The survey, which asked 7,516 consumers about their shopping

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