NRF Expects Record Number of Shoppers Over Holiday Weekend
Though consumers have started holiday shopping earlier, the organization still predicts a busy Thanksgiving weekend for retailers.
An estimated 182 million shoppers will hit stores and online sales from Thanksgiving Day through Cyber Monday this year, according to the annual survey released Thursday by NRF and Prosper Insights & Analytics.
That’s 15.7 million more people than last year and the highest estimate since NRF began tracking this data in 2017.
“The Thanksgiving holiday weekend marks some of the busiest shopping days of the year, as consumers enjoy the tradition of shopping for the perfect gifts for friends and loved ones,” said NRF President and CEO Matthew Shay.
“Retailers have been preparing for months for this occasion. They are stocked and ready to help customers find the gifts and other items they want at great prices during the entire holiday season.”
The survey found that nearly three-quarters (74 percent) of holiday shoppers plan to shop during the five-day holiday weekend, up from 69 percent in pre-pandemic 2019.
The top reasons for shopping this weekend are “the deals are too good to pass up” at 61 percent and “tradition” at 28 percent.
The most popular day to shop is still Black Friday with 130.7 million people (72 percent) planning to shop that day, up from 69 percent last year.
In the No.2 spot is Cyber Monday with 71.1 million people (39 percent) expected to shop that day, slightly higher than last year (38 percent).
As in past years, shoppers are getting an early start on their holiday gift lists this year with 59 percent of those surveyed saying they already began shopping as of early November.
On average, shoppers said they already completed one-quarter of their planned purchases.
“Early shopping is a trend we have been tracking for several years, and this year, there is evidence the deals and promotions from October resonated with consumers,” said Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist.
“More than 40 percent of shoppers say they took advantage of retailers’ October sales to shop specifically for holiday gifts, décor and other seasonal items.”
Gifts are the purchases shoppers are most likely to have made so far, the survey found, with nearly half (48 percent) stating they’ve already bought gifts for others, while 18 percent have bought decorations and 17 percent have bought a gift for themselves.
Though early shopping has been trending in recent years, the holiday weekend is still expected to include some of the busiest shopping days of the year, NRF said.
In its holiday forecast released earlier this month, NRF said it expects spending to reach record levels this November and December, growing between 3 to 4 percent to a total of $957.3 billion to $966.6 billion.
The Latest
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.