Thanksgiving Holiday Shoppers Have Plenty Of Company
December 11, 2019
(Industry Intelligence Inc.)
– If you were one of those people who shopped during the Thanksgiving holiday, congratulations: You were joined by nearly 190 million people.
According to statistics from the National Retail Federation and Prosper Insights & Analytics, a record 189.6 million U.S. consumers shopped from Thanksgiving Day through Cyber Monday this year, an increase of 14% over last year’s 165.8 million.
Shoppers spent an average of $361.90 on holiday items over the five-day period, up 16% from $313.29 during the same period last year. Of the total, $257.33 (71%) was specifically spent on gifts. The biggest spenders were 25- to 34-year-olds at $440.46, closely followed by those ages 35-44 at $439.72.
“Americans continue to start their holiday shopping earlier in the year, and Thanksgiving is still a critical weekend for millions,” said NRF President and CEO Matthew Shay. “Whether they’re looking for something unique on Main Street, making a trip to the store or searching for the best deals from their mobile device, this is when shoppers shift into high gear. With the condensed holiday season, consumers are feeling the pressure to get their shopping done in time. Even those who typically wait until the last minute to purchase gifts turned out in record numbers all weekend long.”
Other findings from the report:
Around 124 million people shopped in stores while 142.2 million shopped on retailers’ websites. Meanwhile, 75.7 million did both. Consumers who shopped in both channels spent an average of $366.79, spending at least 25% more than those who shopped in only one or the other.
Black Friday was the busiest day for in-store activity, with 84.2 million shoppers, followed by Small Business Saturday (59.9 million), Thanksgiving Day (37.8 million), Sunday (29.2 million) and Cyber Monday (21.8 million). Of those shopping on Saturday, 73% were likely to shop specifically for Small Business Saturday.
For the first time, Black Friday topped Cyber Monday as the busiest day for online at 93.2 million shoppers compared with 83.3 million. Saturday followed at 58.2 million, Thanksgiving Day at 49.7 million and Sunday at 43.1 million.
Nevin Barich is the Consumer Products Analyst for Industry Intelligence, which can help YOU better address your own industry challenges. We invite you to come take a look at our service.Call us today at 310-553-0008 and we’ll schedule you for a 15-minute demo.