Consumers will be busy this holiday weekend
More than 164 million consumers (69 percent of Americans) plan to shop or will consider shopping between Thanksgiving and Cyber Monday.
The statistic, released by the National Retail Federation and Prosper Insights & Analytics, reflects consumer insight regarding shopping on Thanksgiving Day, Black Friday, Small Business Saturday, Sunday and Cyber Monday, according to a press release.
"This year, we updated our survey to more accurately capture consumer behavior throughout the entire shopping weekend — Thanksgiving Day through Cyber Monday," NRF President and CEO Matthew Shay said in the release. "Consumers will benefit from competitive promotions both in stores and online lasting the course of the weekend, allowing them to find the best gifts at the lowest prices."
Despite some earlier reports that Cyber Monday would be the busiest, the NRF expects Black Friday to be the biggest shopping day of the holiday weekend, with 70 percent of consumers planning to shop that day. Just about 20 percent will be shopping on turkey day and 42 percent will likely shop on Saturday.
According to the survey, 56 percent have already started their holiday shopping, but most still are from from finished.
The survey polled 7,439 consumers about their shopping plans and was conducted Oct. 31-Nov. 7.
Topics: Consumer Behavior
Companies: National Retail Federation