Nearly 197 million Americans participated in shopping over the Thanksgiving holiday weekend, according to the National Retail Federation (NRF) and Prosper Insights & Analytics. This number, while slightly lower than last year’s record of 200.4 million, significantly surpassed the NRF’s initial projections of 183.4 million shoppers.
NRF President and CEO Matthew Shay said, “Thanksgiving weekend remains a crucial shopping period for both consumers and retailers. Despite a shorter shopping season this year and numerous early sales, shopper turnout exceeded expectations.”
Consumers embraced a mix of online and in-store shopping throughout the long weekend. The number of in-store shoppers rose to 126 million from 121.4 million in 2023. Online shopping saw a slight decrease, with 124.3 million shoppers compared to 134.2 million last year.
Black Friday continued its reign as the most popular shopping day, with 81.7 million shoppers hitting stores – the highest number since the pandemic. Online shopping peaked on Cyber Monday, attracting 64.4 million consumers. Mobile devices played a more prominent role in online shopping this year, with 63% of Cyber Monday shoppers using their phones to make purchases.
Department stores, online retailers, grocery stores, clothing stores, and discount stores were the top shopping destinations. Gift-giving remained a key focus, with 86% of shoppers buying presents and spending an average of $235, slightly higher than 2023. Popular gift categories included clothing, toys, gift cards, food and candy, and personal care items.
With a compressed holiday shopping season, nearly 38% of consumers took advantage of pre-Thanksgiving sales. However, half of their shopping lists remain unchecked, indicating continued spending activity in the coming weeks.
The NRF forecasts record-breaking holiday sales this year, projecting a growth of 2.5% to 3.5% over 2023, reaching a total of $979.5 billion to $989 billion.