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NRF: 164M+ Consumers Expected to Shop Thanksgiving Weekend
If the number holds true, though, it would be a decrease from last year’s reported 174 million.
Washington—More than 164 million people are planning to shop over Thanksgiving weekend, according to a survey released from the National Retail Federation and Prosper Insights & Analytics.
Conducted from Oct. 29 to Nov. 7, the survey asked 7,516 consumers about their shopping plans for Thanksgiving Day, Black Friday, Small Business Saturday, Sunday and Cyber Monday.
If this year’s estimate of 164 million shoppers out during those days holds true, it would be a decrease from the final number—174 million—that the NRF reported after the weekend concluded last year.
This year, not surprisingly, Black Friday is predicted to remain the busiest shopping day of the long holiday weekend, with an estimated 71 percent of consumers, or 116 million people, indicating they plan to shop on the day, the NRF said.
Meanwhile, 46 percent, or 75 million, will take advantage of online deals on Cyber Monday, 41 percent (67 million) are expected to shop on Small Business Saturday—with 78 percent of those saying they will do so specifically to support their local small businesses—21 percent (34 million) are predicted to shop on Thanksgiving Day, and 20 percent (32 million) said they will shop on Sunday.
Of those who said they will shop over the holiday weekend, 65 percent said they’ll take advantage of deals and promotions, while 26 percent said it has to do with the tradition of shopping over Thanksgiving weekend, 23 percent said it’s something to do over the holiday weekend and 23 percent said it’s when they start their holiday shopping.
Interestingly, the NRF also noted a “change in how the younger consumers see the weekend,” Prosper Insights Executive Vice President of Strategy Phil Rist said.
“Compared to older generations, younger consumers under the age of 35 are more likely to be attracted by the social aspects of shopping over the weekend or by the fact that it is a family tradition.”
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