Beauty Store Business magazine - January, 2020

Consumers Spend Big Over Thanksgiving Weekend, Cyber Monday

Fifty-five percent of holiday shoppers were expected to be in stores and online over Thanksgiving weekend, according to the National Retail Federation’s Thanksgiving Weekend Spending Survey, conducted by Prosper Insights & Analytics.

According to the survey, the average person shopping the holiday weekend was expected to spend about $381. Total spending for the weekend was projected to reach $51 billion—down from last year’s estimated $57 billion. Additionally, more than three-quarters of shoppers said they took advantage of retailers’ online and in-store promotions to buy non-gift items for themselves or their family.

Furthermore, holiday shoppers divvied their time and money as follows: 

  • The average person who shopped over the weekend spent $160 online, approximately 42% of their total average budget.
Close to half of shoppers shopped online on Black Friday; though 36% said they shopped online on Saturday.
  • Twenty-six percent of holiday shoppers were online on Thanksgiving Day.
Two in five smartphone owners said they used their smartphone to make purchase decisions over the Thanksgiving weekend.

More specifically, 86.9 million shoppers were in stores and online on Black Friday; nearly one-third shopped on Thanksgiving Day. Half shopped on Saturday and one-quarter were expected to shop on Sunday. Of those who shopped on Saturday, three-quarters of them said they did or planned to shop specifically for Small Business Saturday.

[Image: / Volker Kreinacke]