In the NRF’s annual holiday survey,* conducted with Prosper Insights & Analytics, a record 183.4 million people will shop in-store and online from Thanksgiving Day (November 28) through Cyber Monday (December 2) this year. The figure is up from the previous 182 million set in 2023 and 18.1 million more than in 2019.
“Even though holiday shopping continues to pull forward, some of the busiest shopping days of the year are during the five-day Thanksgiving weekend,” NRF Vice President of Industry and Consumer Insights Katherine Cullen said. “Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season.”
The top reasons consumers surveyed said that they would shop for the holidays between November 28 and December 2 are that the deals are too good to pass up (57 percent), it is tradition (28 percent) and they like to start holiday shopping over Thanksgiving weekend (24 percent ).
While consumers will spread their shopping across channels throughout the five-day holiday weekend, Black Friday remains the most popular day to shop. 72 percent of consumers (131.7 million) plan to shop in-store or online, and about two-thirds (65 percent) of Black Friday shoppers expect to shop in-store that day. Cyber Monday is the second most popular day, attracting 39 percent (72.3 million) of those planning to shop.
The trend of early holiday shopping continues, with 58 percent of consumers starting as of early November. On average, holiday shoppers have completed one-quarter (25 percent) of their planned purchases.
“Younger shoppers are most likely to take advantage of Thanksgiving weekend deals this year, with 89 percent of young adults between ages 18-to-24 planning to shop over the weekend,” Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist said. “The social aspect of holiday shopping is also enticing to this age group, and they are most likely to shop because it’s a group activity that can be enjoyed with friends and family (20 percent).”
Of those not planning to shop during the holiday weekend, half (51 percent) said they would if items they wanted were on sale, offered free shipping or if friends or family invited them.
Earlier this year, the NRF forecasted that holiday spending will reach record levels during November and December and grow between 2.5% and 3.5%, totaling $979.5 billion to $989 billion.
Methodology: The National Retail Federation (NRF) survey asked 8,135 adult consumers about their holiday shopping plans from November 1 to 7. The margin of error is plus or minus 1.1 percentage points. To learn more, go here. To learn more, go here.
