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Sharp deals lure holiday shoppers

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WASHINGTON — Retailers used strong deals and promotions to attract more than 154 million shoppers over the Thanksgiving weekend, according to an annual survey by the National Retail Federation (NRF) and Prosper Insights & Analytics.

“It was a strong weekend for retailers but an even better weekend for consumers, who took advantage of some really incredible deals,” NRF president and chief executive officer Matthew Shay said in a statement. “In fact, over one-third of shoppers said 100% of their purchases were on sale.”

According to the survey, spending over Thanksgiving averaged $289.19 per person, down slightly from the comparable period last year. Gift purchases comprised 74% of that total, NRF said. Clothing and clothing accessories were the gifts of choice for half of the shoppers buying gifts over the four-day weekend, NRF noted. Toys were purchased by one-third of the gift buyers. Thirty percent bought electronics. Gift cards were purchased by 20% of the weekend’s gift buyers.

NRF found that 44% shopped online and 40% shopped in-store over the weekend. Black Friday, as the day after Thanksgiving is known, was the most popular day to shop, both online and in-store, according to the survey, which asked 4,330 consumers about their Thanksgiving shopping plans. The survey, conducted November 25 and November 26, did not cover consumers’ plans for Cyber Monday, which was ­November 28.

Deals were cited as a prime motivator of shoppers who spent a record $3.39 billion for online purchases on Cyber Monday, the busiest day of the year for internet shopping. That figure represents a jump of about 10% from last year, as online shopping continues to make up for slower spending in stores, according to Adobe Digital Insights.

The rate of growth on Cyber Monday, however, was slower than for Black Friday and Thanksgiving, when sales grew 21.6% and 11.5%, respectively. This was mainly due to a lower sales base a year ago for those two days, said Adobe, which collects data by measuring 80% of all online transactions from the 100 biggest U.S. retailers.


ECRM_06-01-22


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