With only two days left before Christmas, millions of consumers are expected to flock to stores and online retailers to finish their holiday shopping. According to a survey by the National Retail Federation (NRF) and Prosper Insights & Analytics, nearly 142 million shoppers plan to shop on Super Saturday, the last Saturday before Christmas, which falls on 23rd December this year. This is a significant increase from the last time Super Saturday was on 23rd December, when 126 million shoppers were expected in 2017.
NRF President and CEO Matthew Shay said that Super Saturday marks the final major shopping holiday of the year, and that retailers are ready to offer a variety of gifts, decorations, and other items to make the season fun and memorable. He also said that holiday spending is expected to reach record levels this year, growing between 3% and 4% over 2022, totalling $957.3 billion to $966.6 billion, according to NRF’s holiday forecast.
The survey, which asked 7,973 adult consumers about their holiday shopping plans, found that more shoppers are opting to buy in-person this year, as Super Saturday is closer to the Christmas holiday. About 53 million (37%) Super Saturday shoppers expect to shop exclusively in stores this year, up from 44 million (28%) last year, while 58 million (41%) plan to shop both online and in stores, and 31 million (22%) plan to shop exclusively online.
The survey also revealed that holiday shoppers have picked up about half (49%) of the items on their lists as of early December, and that many are still looking for the best deals and the perfect gifts. About 36% of those who have more than half of their shopping remaining say they are still figuring out what to buy, and 85% of Thanksgiving weekend shoppers said they expected the deals during the rest of the holiday season to be the same or better than Thanksgiving weekend.
Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist said that this year Super Saturday is truly aligned for last-minute shoppers, and that most consumers also plan to buy their last gift in the week leading up to Christmas. He added that popular destinations where consumers will finish their shopping include online (49%), department stores (38%), discount stores (28%), clothing and accessories stores (26%), and grocery stores (19%).
The survey also showed that the top gifts consumers have purchased so far include clothing (50%), toys (34%), gift cards (27%), books and other media (24%), and personal care or beauty items (23%). Additionally, most consumers (70%) say they plan to shop in the week following Dec. 25, mainly to take advantage of holiday sales and promotions (48%), use gift cards (26%), and return or exchange unwanted gifts and holiday items (16%).
NRF Chief Economist Jack Kleinhenz said that the November results reported by the U.S. Census Bureau today show that holiday season retail sales are on track to meet NRF’s forecast, and that consumers’ strength and capacity to spend are evident. He attributed the robust holiday shopping to jobs and wage gains, falling energy prices, and lower inflation for goods, which have helped consumers make smart decisions about their purchases.