More than 165 million Americans shopped either in stores or online over Thanksgiving weekend (from November 22 to 26), surpassing the 164 million that said that they were planning on shopping in advance of the holiday.
The average shopper spent $313.29 (€277.69) on gifts and other holiday items over the five-day period, down from $335.47 during the same period last year, according to the National Retail Federation (NRF).
The biggest spenders were older millennials and 'Generation Xers' (those aged 35-44 years old), which averaged $413.05 worth of spend.
Speed of Change
“For several years, we’ve been talking about the dynamic nature of the retail industry and the speed of change necessary to meet the consumer demand,” commented NRF President and CEO Matthew Shay.
“This year’s research clearly shows that the investments made by retailers are paying off in a big way. Over the last couple of days, what I heard in discussions with retail CEOs across all categories and segments was very positive, driven by macro conditions of low unemployment and rising wages combined with the right mix of merchandise at great prices."
The NRF found that 89 million consumers shopped both online and in stores over the weekend, up nearly 40% on the same period last year. Multichannel shoppers also outspent the single-channel shopper by up to $93 on average.
"This is a very strong emotional start to the holiday season and a positive indicator of where we are headed over the next month," Shay added.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine
