130 million people will shop! US Thanksgiving weekend spending will hit a record high!

Recently, the National Retail Federation (NRF) and Prosper Insights & Analytics released sales forecasts for the 2023 Thanksgiving weekend (from Thanksgiving to Cyber ​​Monday). Driven by the doubling of the number of online and physical store shoppers, U.S. consumer spending on Thanksgiving weekend will hit a new high.

According to the National Retail Federation (NRF), about 130 million Americans plan to shop over Thanksgiving weekend this year, nearly 16 million more than last year and the highest number since 2017. Overall, nearly three-quarters (74%) of holiday shoppers plan to shop over the five-day Thanksgiving weekend, up 69% from 2019 before the pandemic.

Specifically, Black Friday will be the peak of the shopping frenzy, with 72% planning to shop on this day, up from 69% in 2022. Cyber ​​Monday is the second most popular shopping day, attracting 39% of people, slightly higher than last year's 38%.

According to the NRF survey, the primary factor driving American consumers to shop during Thanksgiving weekend is great discounts (61%), followed by traditional customs (28%).

As of early November, about six in ten (59%) holiday shoppers have already started browsing and purchasing items to get a head start on their shopping. On average, holiday shoppers have already completed a quarter (25%) of their planned purchases.

Additionally, nearly half (48%) of holiday shoppers have already purchased gifts so far, with another 18% having purchased decorations and 17% having bought gifts for themselves.

The "2023 Thanksgiving Weekend Purchasing Intentions" survey released by ICSC found that American consumers expect to spend $130 billion over this year's Thanksgiving weekend, an increase of 4% from last year.

Phil Rist, executive vice president of Prosper Insights & Analytics, also noted that more than 40% of U.S. consumers took advantage of October promotions to buy gifts, decorations and other holiday items.

Editor ✎ Nicole/

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