The National Retail Federation recently released a survey showing a 9.1% increase in Thanksgiving weekend spending compared to last year, combining both in-store and online shopping. About 226 million people shopped over the Black Friday weekend, which is up from 212 million the previous year. This weekend includes Thursday, Friday, and Saturday, with Sunday’s sales still being projected at the time of the survey.
According to Reuters, the average amount spent per person during this weekend rose to $398.62, up from $365.34 last year. Total spending also increased, hitting around $52.4 billion from the previous year’s $44.5 billion.
The survey by the trade group found that department stores were the top destination for shoppers, with half of them visiting at least one over the weekend. The other shoppers visited discount retail stores and enjoyed checking out electronics stores.
Research company comScore reported that even before the anticipated Cyber Monday, online retailers were enjoying strong sales on Sunday. Online shopping surged by 26% during this year’s Black Friday, defying some analysts’ predictions that longer in-store hours would hurt online sales.
So, what’s next? Get ready for Cyber Monday!