Thanksgiving weekend shoppers top 141 million, spend $57 billion
Between the feasting and the football this Thanksgiving weekend, millions of Americans packed into stores and checked their electronic devices 鈥� sometimes at the same time 鈥� for good deals.
By the end of the day Sunday, more than 141 million adults will have taken part in this annual celebration 鈥� critics say frenzy 鈥� of consumerism, spending on average $407.02 on clothes, video games, sporting goods, jewelry, and other gifts, as well as items for themselves.
Total retail spending for the four-day period is estimated to reach $57.4 billion, according to a National Retail Federation (NRF) survey released Sunday.
The per-person spending amount is slightly less than last year鈥檚 figure ($423.55) and the overall figure could end up a bit lower than 2012 as well.
This reflects the state of economy 鈥� consumer confidence, stock market, housing market, etc. 鈥� NRF officials say.
鈥淪hoppers on average are doing some belt-tightening,鈥� says Pam Goodfellow of Prosper Insights & Analytics, which conducted the survey. 鈥淭hey鈥檙e really watching what they spend.鈥�
They鈥檙e also watching for the discounts offered by bricks-and-mortar stores as well as commercial websites. This year, that鈥檚 becoming even more competitive. One reason: a traditional holiday shopping season that鈥檚 six days shorter than last year, when Thanksgiving Day was Nov. 22.
This competition is also reflected in a weekend blitz that鈥檚 become a five-day deal 鈥� stretching from Thanksgiving Day itself through 鈥淏lack Friday鈥� and 鈥淪mall Business Saturday鈥� to 鈥淐yber Monday.鈥�
Thanksgiving Day shopping 鈥渉as evolved from a fad to a tradition,鈥� says NRF president and chief executive officer Matthew Shay. 鈥淚t鈥檚 become a critical part of the overall weekend.鈥�
That鈥檚 certainly true for retailers, if not for individuals and families more used to spending the day at home, gathered around the TV to watch the Macy鈥檚 Thanksgiving Day Parade and football as the aroma of a roasting turkey fills the house.
While Black Friday was still the most popular day to take advantage of good deals (92 million shoppers this year), the number of Americans who hit the stores on Thanksgiving Day rose to 45 million, compared to 35 million last year.
Meanwhile, the number of online shoppers has been going steadily upward as well 鈥� to 59 million adults this year.
鈥淥nline shopping over the Thanksgiving weekend continues to be more popular as retailers tout special holiday savings through their mobile apps and websites,鈥� says Ms. Goodfellow. 鈥淲ith limited budgets this year, holiday shoppers will continue to make very thoughtful decisions about when and where they shop the remainder of the season, making sure to compare prices and keep up with retailers鈥� advertisements for special sales.鈥� 聽
That may be especially true of younger shoppers (ages 18-34). More than 76 percent shopped or planned to shop over the long weekend 鈥� a higher percentage than any other age group. That鈥檚 a demographic most likely to be armed with a smart phone or tablet to hunt out the best deals as they join the crush at discount and department stores.
The retail federation organization expects 132 million shoppers to go online 鈥淐yber Monday,鈥� up from 119 million in 2012.
That won鈥檛 be the end of it, of course.
鈥淲ith only a few weeks until the big day, retailers will continue to aggressively promote their in-store and online offerings, looking to entice today鈥檚 very budget-conscious and value-focused shopper,鈥� says Mr. Shay.
