“Our data tells us that this Thanksgiving holiday weekend will see robust store traffic with a record number of shoppers. ”
NRF President and CEO Matthew Shay
WASHINGTON, November 17, 2022 – An estimated 166. 3 million people are planning to shop from Thanksgiving holiday Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is almost 8 mil more people than last year and is the highest estimate since NRF began tracking this information in 2017.
“While there is much speculation about inflation’s impact on consumer behavior, our data tells us this Thanksgiving holiday weekend break will discover strong store visitors with a report quantity of consumers taking advantage of value pricing, ” NRF President and CEO Matthew Shay said. “We are optimistic that retail sales will remain strong in the weeks ahead, and retailers are ready to meet consumers however they want to shop with great products at prices they want to pay. ”
According to the survey, more than two-thirds (69%) of holiday shoppers plan to shop during Thanksgiving weekend this 12 months. The top reasons consumers plan to shop are because the deals are too good to pass up (59%), because of tradition (27%) or because it is something to do (22%) over the particular holiday.
Black Friday continues to be the most popular day to shop, along with 69% (114. 9 million) planning to store then, followed by 38% (63. 9 million) on Cyber Mon. Among the 114. nine million Dark Friday buyers, 67% say they expect to head to stores, up from 64% in 2021.
Similar in order to 2020 plus 2021, this year, 60% of vacation shoppers had started browsing and buying for the season as of early November. This particular consumer trend of earlier shopping was accelerated simply by the pandemic. In 2019, 56% associated with holiday customers had started their shopping around this time.
“While consumers continue to save the bulk of their holiday shopping for later in Nov and December, some of that spending has shifted into October, ” Succeed Executive Vice President associated with Strategy Phil Rist said. “This yr, 18% of holiday shoppers have completed at least half of their own holiday buying. While this is on par with this past year, it is upward from only 11% a decade ago. ”
Online search (43%) remains the most famous source associated with gift inspiration, followed by friends and family (35%) and within a retail store (31%). The top five gift categories customers intend to give are clothing (55%), adopted by present cards at 45%, toys at 37%, books/music/movies/video games at 33% and food/candy at 31%.
Gift cards remain a favorite gift item, with total spending expected to reach $28. 6 billion, compared along with $28. 1 billion in 2021. Similar to a year ago, holiday consumers plan to purchase between three to four gift cards plus spend an average of $51. 47 per card ($165. 87 per person). Consumers are most likely to purchase a gift card for a restaurant (27%), department store (26%) or bank-issued present card (25%). Another 10% plan in order to purchase a food delivery service gift cards such as DoorDash or Uber Eats.
For those purchasing for children, top playthings for boys this year include 1 . Lego, 2 . Hot Wheels, a few. cars and trucks, 4. PlayStation, 5. video games, 6. Pokémon, 7. Nerf, 8. electric/remote control cars, 9. dinosaurs, and 10. Xbox. For girls, the particular top toys are one Barbie, second . doll, three or more. L. O. L. dolls, 4. Lego, 5. makeup, 6. Squishmallows, 7. American Girl plus apparel (tied), 8. Disney-related items, nine. baby doll, and 10. cell phone and Magic Mixies (tied).
The survey of seven, 719 adult consumers has been conducted The fall of 1-8 and has a margin associated with error of plus or even minus 1 ) 1 percentage points.
NRF forecast previously this month that holiday sales throughout November plus December will certainly grow among 6% and 8% over 2021 to between $942. 6 billion dollars and $960. 4 billion. Last year’s holiday sales grew 13. 5% more than 2020 plus totaled $889. 3 billion dollars, shattering previous records. Holiday retail product sales have averaged an increase of four. 9% over the past 10 years, with pandemic investing in recent years accounting for considerable gains.
The Country wide Retail Federation, the world’s largest store trade association, passionately advocates for that individuals, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D. C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3. 9 trillion in order to annual GDP and supporting one within four U. S. jobs – 52 million working Americans. For over the century, NRF has been a voice for every retailer and every retail job, educating, inspiring plus communicating the particular powerful impact retail has on local communities and global economies. nrf. com
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