The International Council of Shopping Centers (ICSC) reported the results of its post-Thanksgiving weekend survey, which showed that over half of respondents (56 percent) noted that they shopped just as much or more than in the past, an increase of 6 percent from its 2022 survey.

Overall, 75 percent of U.S. adults – or 195.6 million people – shopped over the five days beginning on Thanksgiving Day (November 24) and ending Cyber Monday (November 27), in line with 78 percent in 2022, with 70 percent of respondents, noting the holiday weekend remained just as important a shopping period as in year’s past.

“As consumers continue to hunt for the best deals and promotions, major shopping events like Black Friday and Cyber Monday remain important despite discounts extending throughout the holiday season. Our Post-Thanksgiving Weekend Survey revealed that consumers turned out to shop both in-store and online. While economic factors may be changing some consumer behaviors, shoppers are still spending, and retailers can expect to benefit from a strong holiday season,” stated Tom McGee, president and CEO of ICSC.

Other findings in the ICSC 2023 survey include:

  • Over two-thirds (68 percent) of respondents purchased gifts for others, while 43 percent spent money on dining and 22 percent on entertainment and activities;
  • Two-thirds of respondents said they still had a “significant” amount of holiday shopping to do despite shopping over Thanksgiving weekend;
  • About 66 percent of respondents who shopped over the Thanksgiving weekend spent money at a brick-and-mortar store, consistent with 2022 and up five percentage points from 2021;
  • Of those who shopped at a physical store, 41 percent of respondents said in-store shopping is their preferred method, up from 34 percent who said the same in 2022;
  • Discount department stores remained the most popular destination for respondents (50 percent), down from 61 percent in 2022. Dollar/variety stores (29 percent), apparel, footwear, and accessory retailers (26 percent), electronics stores (25 percent), and health and beauty (24 percent) rose in popularity.

*The 2023 ICSC Post-Thanksgiving Weekend Survey includes two surveys the Council conducted online on November 24, 2022, and November 27, 2023, with a demographically representative U.S. sample of 1,007 and 1,004 consumers, respectively.

Photo courtesy Carolina Herrera