An estimated 197 million consumers shopped over the five-day holiday weekend from Thanksgiving through Cyber Monday, according to an annual survey by the National Retail Federation (NRF) and Prosper Insights & Analytics.
The 197 million total is the second-highest number in the survey’s history, trailing only last year’s 200.4 million. NRF initially expected a total of 183.4 million shoppers.
“Thanksgiving weekend retains its prominence among holiday spending events and continues to play a significant role in the holiday season for both consumers and retailers,” NRF President and CEO Matthew Shay said. “Even with this year’s shortened shopping period and the multitude of early sales promotions from retailers, this past weekend exceeded expectations in terms of the sheer volume of shoppers.”
According to NRF’s tally, 126 million consumers shopped in-store (up from 121.4 million in 2023), while online shoppers totaled 124.3 million. That’s down from 134.2 million last year.
Despite assertions that Black Friday isn’t quite what it used to be, it remains the top dog of holiday shopping — for in-store and online shopping. NRF said 81.7 million shopped in stores on that day. That was up from 76.2 million in 2023 and the highest number since the pandemic. Meanwhile, 87.3 million shopped online, down from 90.6 million last year.
Saturday was the second-biggest day for in-store shopping, with 61.1 million consumers paying a visit to brick-and-mortar retail.
Cyber Monday is still the second most popular day for online shopping, NRF said. It attracted 64.4 million shoppers vs. 73.1 million in 2023. A majority (63%) of Cyber Monday online shoppers used mobile devices — up from 55% in 2023.
Top shopping destinations during Thanksgiving weekend were department stores (42%), online (42%), grocery stores and supermarkets (40%), clothing and accessories stores (37%) and discount stores (32%).
“Whether it’s tradition, the deals or simply an activity with friends and family, consumers continue to embrace Thanksgiving holiday weekend shopping,” Prosper Executive Vice President of Strategy Phil Rist said. “Additional offerings like free shipping, a limited sale or promotion or a positive review helped convince most shoppers to move items from their shopping carts to the purchase finish line.”
Most shoppers were focused on holiday gift-buying: 86% of shoppers during the five-day period bought gifts, spending $235, on average, or $8 more than in 2023. Top gifts included clothing and accessories (bought by 49% of those surveyed), toys (31%), gift cards (27%), food and candy (23%) and personal care or beauty items (23%).
NRF, which defines the holiday season as Nov. 1 through Dec. 31, has forecast that holiday spending will reach record levels, growing 2.5% to 3.5% vs. 2023, totaling $979.5 billion to $989 billion.