A record 186.9 million U.S. consumers plan to shop for the holidays from Thanksgiving Day (November 27) through Cyber Monday (December 1) this year, up 1.9 percent from the previous record of 183.4 million last year. This statistic is based on a survey conducted by the National Retail Federation (NRF) in collaboration with Prosper Insights & Analytics.
“The holidays are an important part of many consumers’ budgets, and that trend is especially true this season,” NRF VP of Industry and Consumer Insights Katherine Cullen stated. “As a record number of shoppers are expected this Thanksgiving weekend, retailers are prepared to meet the needs of consumers with great value and convenience.”
While retailer promotions will span the five-day holiday weekend, Black Friday (November 28) remains the most popular day to shop, with 70 percent of shoppers (130.4 million). The second most popular day remains Cyber Monday, with 40 per cent (73.9 million) of consumers expected to shop after Thanksgiving. Of the 36 percent (67 million) of potential Saturday shoppers, 80 percent of those surveyed are considering shopping to support local businesses and Small Business Saturday (November 29).
“Many Americans consider shopping to be an important part of their Thanksgiving holiday and one of the best ways to get deals on gifts,” Prosper Insights & Analytics Executive ViP of Strategy Phil Rist said. “Of those planning to take advantage of sales, over half say it’s because the deals are too good to pass up. Others point to the tradition or simply say they like to start their holiday shopping during the long weekend.”
As of early November, 58 percent of consumers said they had already started their holiday shopping, aligning with the last five years. On average, consumers shopping during the holiday period have completed roughly one-quarter (26 percent) of their planned purchases.
The top items that surveyed respondents plan to gift this year are clothing and accessories (50 percent), gift cards (43 percent) and toys (32 percent). The leading sources of inspiration continue to be online search (41 percent), friends and family (35 percent), in-store (28 percent), and wish lists (23 percent).
Total gift card spending is expected to reach $29.1 billion, up from $28.6 billion in 2024, with those surveyed planning to purchase between three and four gift cards and expect to spend an average of $171.32 per person. Restaurants remain the most popular gift card (27 percent), followed by bank-issued cards (25 percent), department stores (25 percent), and coffee shops (20 percent).
For the fifth consecutive year, debit cards (44 percent) remain the most popular payment method for purchasing holiday gifts, followed by credit cards (37 percent) and cash (16 percent). Fifty-nine percent of those surveyed plan to use digital wallets and apps, in line with recent years.
About two-thirds (67 percent) of respondents plan to “embrace the spirit of giving” and engage in at least one charitable activity, with the top ways to give including donating financially to a charity or cause (32 percent), donating items to a charity or cause (31 percent) or purchasing from retailers or brands that donate to social causes (20 percent).
The NRF survey asked 8,000 adult consumers about their holiday shopping plans. It was conducted from October 31 to November 6.
Earlier this month, the NRF forecast that holiday spending will surpass $1 trillion for the first time during November and December, with sales expected to grow between 3.7 percent and 4.2 percent over 2024. The amount translates to a total spending range of $1.01 trillion to $1.02 trillion.
