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NRF: A record 197 million consumers shopped between Thanksgiving and Cyber ​​Monday

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A quick dive:

  • The National Retail Federation announced Tuesday that it was a record high since the trade group began tracking in 2017. 196.7 million people made purchases online and in stores during the holidays between Thanksgiving and Cyber ​​Monday. That’s an increase of 17 million people compared to 2021, according to the NRF.
  • Specifically, on Black Friday, about 72.9 million shoppers were in stores, up from 66.5 million in 2021. Seventy-seven percent of Saturday shoppers told the NRF they support Small Business Saturday, according to a survey of 3,326 adult consumers.
  • However, data from the foot traffic analytics company Placer.ai showed that Black Friday store visits were down year-over-year across most categories and retailers. Attendance at indoor malls was down 2.3%, and major retailers like Walmart, Costco and Target were also down multiple percentage points compared to 2021. Meanwhile, discount and dollar stores are up 1.1%, and the beauty and spa industry is up 14.6% year-over-year, according to Placer.ai.

Dive Insight:

The NRF said the latest holiday shopping season shows the average consumer is still spending despite macroeconomic challenges.

“Thanksgiving weekend is a tradition cherished by many American families,” NRF President and CEO Matthew Shay said in a statement. “As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible. Retailers have responded accordingly by offering shoppers a season of convenient shopping, matching online and in-store sales and promotions to satisfy their customers at every interaction.”

Shoppers spent an average of $325.44 on holiday shopping over the weekend, up from $301.27 last year. Clothing, toys and gift cards were among the most purchased gifts, according to the trade group’s survey.

While the NRF notes that the number of online shoppers grew at a slower rate compared to last year (up 2%) compared to in-store retail (up 17%), the survey found that the most popular destinations for shoppers during this period there were Internet (42%), department stores (42%), grocery stores and supermarkets (40%), and clothing and accessories stores (36%).

The conclusion for the group was that holiday shopping is starting earlier than before.

“It’s a clear trend that things are starting earlier,” Shay said on Wednesday’s call. “Retailers understand that consumers are starting the season earlier. And as a result, we’re seeing changes in holiday inventory, in what’s available, in how promotions and discounts are offered.”

More than half (56%) of consumers surveyed said they took advantage of early holiday deals before Thanksgiving, and 24% did so before November 16.

https://www.retaildive.com/news/record-number-shopped-black-friday-cyber-monday-thanksgiving/637563/ NRF: A record 197 million consumers shopped between Thanksgiving and Cyber ​​Monday

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