While in-store shopping reports varied widely amid the decline of Black Friday “doorbuster” deals, the National Retail Federation (NRF) is calling this Thanksgiving weekend one for the record books.
On a call with members of the media today, the NRF and Prosper Insights & Analytics said that a record number of consumers shopped during the five-day holiday weekend this year from Thanksgiving to Cyber Monday. According to the report, 196.7 million shoppers hit stores and online sales this year, up from 179.8 million in 2021.
“The Thanksgiving holiday shopping weekend is a tradition treasured by many American families,” says NRF President and CEO Matthew Shay. “As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible. Retailers have responded accordingly, offering shoppers a season of buying convenience, matching sales and promotions across online and in-store channels to accommodate their customers at each interaction.”
Notably, physical retail saw a 17% increase in shoppers this year with nearly 123 million customers, up from approximately 105 million last year.
“It is important to note that while some may claim that retail sales gains are the result of higher prices, they must acknowledge the historic growth in consumers who are shopping in-store and online during the long Thanksgiving holiday weekend and into Cyber Monday,” Shay says. “It is consumer demand that is driving growth.”
According to consumers surveyed over the weekend, 31% said that toys were a part of their holiday shopping haul.
