A record 183.4 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to an annual survey from the National Retail Federation (NRF) and Prosper Insights & Analytics.
The number is up from the previous record of 182 million in 2023.
“Even though holiday shopping continues to pull forward, some of the busiest shopping days of the year are during the five-day Thanksgiving weekend,” NRF Vice President of Industry and Consumer Insights Katherine Cullen said. “Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season.”
Consumers said they plan to spread their shopping across different channels throughout the holiday weekend, though Black Friday remains the most popular day to shop, with 72% (131.7 million) planning to make purchases that day. 65% of Black Friday shoppers expect to shop in stores. Cyber Monday is the second most popular day, attracting 39% (72.3 million) of those planning to shop, according to the survey.
“The top reasons consumers plan to shop during this five-day period are because the deals are too good to pass up (57%), it is tradition (28%) and they like to start holiday shopping over Thanksgiving weekend (24%),” said the NRF.
“Younger shoppers are most likely to take advantage of Thanksgiving weekend deals this year, with 89% of young adults between 18-24 planning to shop over the weekend,” Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist said. “The social aspect of holiday shopping is also enticing to this age group, and they are most likely to shop because it’s a group activity that can be enjoyed with friends and family (20%).”
Of those who are not currently planning to shop during the holiday weekend, 51% said they could be convinced to do so if items they want are on sale, if they are offered free shipping or if friends or family members invite them to go shopping.
The NRF also reported that consumers plan to spend more than ever this holiday season, according to new polls and research. Shoppers are expected to spend $902 per person for the holidays, which is about $25 per person more than last year’s amount and $16 higher than the previous record set in 2019. Consumers plan to spend the most on gifts for family, friends and more ($641 of the $902), an increase from $620 in 2023. The remaining $261 will be spent on other seasonal items such as food or candy, decorations, greeting cards and other holiday items.