This Thanksgiving weekend may see record 183.4 mn shoppers: NRF

Fifty-seven per cent of consumers plan to shop all over this five-day period because the bargains are too good to pass up, 28 per cent feel it is a tradition, and 24 per cent are likely to begin holiday shopping over Thanksgiving weekend, said the report.

Black Friday continues to be the most popular day to shop, with 72 per cent of consumers (131.7 million) planning to visit stores or shop online throughout the course of the five-day holiday weekend. Sixty-five per cent of Black Friday customers anticipate making in-store purchases on that day. Thirty-nine per cent (72.3 million) intend to shop on Cyber Monday, as it is the second most popular day.

The trend of early holiday shopping continues with 58 per cent of consumers having already started their holiday shopping as of early November. On average, holiday shoppers have completed one-quarter (25 per cent) of their planned purchases, the report added.

Half (51 per cent) of those who do not currently have plans to shop over the holiday weekend stated that they might be persuaded to do so if the things they desire were on sale, if they were offered free delivery, or if friends or family invited them.

“Even though holiday shopping continues to pull forward, some of the busiest shopping days of the year are during the five-day Thanksgiving weekend. Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season,” said Katherine Cullen, vice president of Industry and Consumer Insights of NRF.

“Younger shoppers are most likely to take advantage of Thanksgiving weekend deals this year, with 89 per cent of young adults between 18-24 planning to shop over the weekend,” said Phil Rist, executive vice president of strategy at Prosper Insights & Analytics “The social aspect of holiday shopping is also enticing to this age group, and they are most likely to shop because it’s a group activity that can be enjoyed with friends and family (20 per cent).”

NRF earlier this month forecast that holiday spending is expected to reach record levels during November and December and will grow between 2.5 per cent and 3.5 per cent, totalling $979.5 billion to $989 billion.

The survey gathered insights from 8,135 adult consumers about their holiday shopping plans.

Fibre2Fashion News Desk (SG)