Holiday shopping is off to a strong start, with 183.4 million people expected to shop online or in stores from Thanksgiving and Black Friday through Cyber Monday. This projection, from the National Retail Federation and Prosper Insights & Analytics, sets a record, surpassing last year’s 182 million.
Just the Facts:
• Top Days for Shopping: Black Friday leads with 72% of shoppers participating, followed by Cyber Monday at 39%.
• Spending Priorities: 58% of shoppers started their holiday shopping by early November, completing about 25% of their planned purchases.
• Demographics: Young adults aged 18-24 are most likely to shop during the weekend, with 89% planning to participate.
• Key Motivations: Discounts (57%) and tradition (28%) are driving shoppers this weekend.
By the Numbers:
• Holiday Spending Forecast: Predicted to reach $979.5 billion to $989 billion for November and December, reflecting a 2.5%-3.5% increase from last year.
• Survey Details: Based on responses from 8,135 consumers, conducted from Nov. 1-7 with a margin of error of ±1.1 percentage points.
Why It Matters: Weekend-after Thanksgiving shopping has always been used as an economic marker. If consumer spending is up during this traditional week of shopping, it is an indicator that consumers are feeling optimistic about the economy.
How You Can Prepare:
• Plan Purchases: Take advantage of deals throughout the weekend, particularly on Black Friday and Cyber Monday.
• Leverage Online and In-Store Options: Retailers are offering a mix of both to suit varied preferences.
• Stay Budget-Conscious: With deals driving purchases, set a spending limit to make the most of your holiday shopping.
What’s Next: Retailers will monitor spending patterns this weekend as an indicator of overall holiday sales performance. Watch for updates on Cyber Monday outcomes and year-end sales trends.
B.T. Clark
B.T. Clark is an award-winning journalist and the Publisher of The Georgia Sun. He has 25 years of experience in journalism and served as Managing Editor of Neighbor Newspapers in metro Atlanta for 15 years and Digital Director at Times-Journal Inc. for 8 years. His work has appeared in several newspapers throughout the state including Neighbor Newspapers, The Cherokee Tribune and The Marietta Daily Journal. He is a Georgia native and a fifth-generation Georgian.
