Holiday weekend kick-off: Traffic up, spending down
December 2, 2013,
Washington D.C. - Shoppers turned out in greater numbers this Thanksgiving weekend, but a combination of deep discounts and budget-mindedness resulted in lower overall sales for the period, according to the National Retail Federation.
Prosper Insights & Analytics polled consumers over the weekend for NRF and found traffic on Thanksgiving Day itself grew 27% over last year as nearly 45 million shoppers, or 31.8% of holiday shoppers, chased after deals. By the end of the weekend, more than 141 million shoppers had shopped, up 1.6% compared to last year.
On average, shoppers spent $407.02 from Thursday through Sunday, down 3.9% from last year. Total spending is estimated to reach $57.4 billion, lagging last year's figure by 2.7%.
"With only a few weeks until the big day, retailers will continue to aggressively promote their in-store and online offerings, looking to entice today's very budget-conscious and value-focused shopper," said Matthew Shay, NRF president and ceo.
Other data points from the survey:
- More than three-quarters (76.2%) of 18-34 year olds shopped or planned to shop over the holiday weekend - higher than any other age group - with Black Friday being the most popular day (70.9%).
- One-quarter (25.4%) of shoppers said they were at stores by 8 p.m. on Thanksgiving night.
Nearly four in 10 (37.3%) were at stores by midnight on Thanksgiving, up from 28.0% last year.
More than one-third (35.8%) didn't arrive at stores on Black Friday until 10 a.m. or later.
- Four in 10 (42.1%) shopped online over the weekend, with an average online spend of $177.67, or approximately 43.7% of their total weekend spending. That was up from 40.7% last year.
NRF is still standing by its project that sales for the overall holiday season will rise 3.9%.