Nearly 7 in 10 Americans said they are planning to or considering shopping over the Thanksgiving holiday weekend, according to a survey from the National Retail Federation.
For the first time in the survey, the numbers include Cyber Monday in addition to Thanksgiving Day, Black Friday, Small Business Saturday and Sunday.
“This year, we updated our survey to more accurately capture consumer behavior throughout the entire shopping weekend— Thanksgiving Day through Cyber Monday,” said Matthew Shay, NRF president and CEO. “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.”
Of those considering shopping the long holiday weekend, the survey found that 20% plan to shop on Thanksgiving Day (32 million) but Black Friday will remain the busiest day with 70% planning to shop the day after Thanksgiving (115 million). In addition, 43% are expected to shop on Saturday (71 million), with 76% saying they will do so specifically to support Small Business Saturday. On Sunday, 21% expect to shop (35 million) and 48% are expected to shop on Cyber Monday (78 million).
Of those shopping, 66% said they’re doing so to take advantage of deals and promotions retailers will offer, while 26% cited the tradition of shopping over Thanksgiving weekend and 23% said it’s something to do over the holiday weekend. Another 23% said it is when they start their holiday shopping.
According to the survey, 56% of Americans have already started their holiday shopping, but most still have a long way to go. Only 12% of consumers have completed at least half of their shopping, while only 2% have finished all of their holiday shopping.
While many consumers will take advantage of deals over Thanksgiving weekend, 31% will refrain from shopping that weekend. Of those not planning to participate, 52% won’t shop because they do not enjoy the experience and 51% say they never shop during Thanksgiving weekend.
The survey, which asked 7,439 consumers about their shopping plans, was conducted October 31 through November 7 and has a margin of error of plus or minus 1.2 percentage points.