70% of Consumers to Shop This Holiday Weekend
Cyber Monday is expected to take half of all online spending this weekend.
Nov 20, 2018
NEW YORK – A study by Deloitte found that more than 70% of consumers plan to do some holiday shopping this Thanksgiving weekend. Shoppers are expected to spend an average of $420 between Thanksgiving Day and Cyber Monday—with 88% expected to spend more or the same than they originally intended.
On Thanksgiving Day, 26% of weekend shoppers plan to head to the stores and 29% will shop online. The day following, on Black Friday, 70% of the 1,200 adults surveyed plan to shop in the stores and 50% plan to do so online. But Cyber Monday may get the most attention: 73% plan to shop online and are expected to spend an average of $170 that day, which is higher than all other shopping days.
“People have responded to the early promotions that retailers have put in play to outdo the competition—from early Black Friday deals to free shipping—but the event still holds its place as a holiday tradition,” said Rod Sides, vice chairman of Deloitte LLP and U.S. retail and distribution leader in a press release. “Most people maintain the perception that the best deals are on Black Friday, but it’s also become a day for spending time with family and friends.”
It’s not surprising that the deals are the biggest reason people shop in the stores on Black Friday. Seventy-two percent of Black Friday shoppers plan to be in the stores before 9:00 a.m. and typically end up spending more than those who start later.
