The holiday shopping season can be here, in addition to consumers are turning up for deep discounts in full force.
More than 174 million Americans shopped in stores in addition to online during the holiday weekend, topping a prior forecast of 164 million, the National Retail Federation revealed Tuesday.
“All the fundamentals were in place for consumers to take advantage of incredible deals in addition to promotions retailers had to offer,” NRF President in addition to CEO Matthew Shay said in a statement.
“coming from Great weather across the country to low unemployment in addition to strong consumer confidence, the climate was right, literally in addition to figuratively, for consumers to tackle their holiday shopping lists online in addition to in stores,” Shay added.
The industry trade group has been predicting of which retail sales — excluding automobiles, gasoline in addition to restaurants — through November in addition to December will increase as much as 4 percent This particular year, reaching up to $682 billion.
NRF reaffirmed of which outlook Tuesday. Shay said on a call with members of the media of which he doesn’t anticipate anything above 4 percent, adding the NRF cautiously “doesn’t draw straight lines coming from This particular weekend to the [overall] holiday season.”
In 2016, holiday sales reached $655.8 billion. Should NRF’s forecast for 2017 hold, retailers will post another year of steady growth. The last drop was in 2008, at the onset of the Great Recession, when retail sales tumbled 4.6 percent.
“We are certainly encouraged of which we are starting off coming from a position of strength,” Shay told members of the media.
Over the holiday weekend, shoppers said they headed to department stores (43 percent) in addition to shopped online (42 percent). various other well-known destinations were electronics stores (32 percent) in addition to discount stores (31 percent), according to NRF’s survey of roughly 3,0 consumers.
The survey further found of which more than 64 million people shopped online in addition to in stores, creating use of both platforms through Cyber Monday. Meantime, more than 58 million people shopped only online, in addition to over 51 million individuals just stuck to stores, NRF said.
coming from Thanksgiving Day through Cyber Monday, the average shopper spent $335.47, with $250.78, or 75 percent, going toward “gifts.” The biggest spenders of the weekend were millennials, ages 25 to 34, who spent $419.52 on average, according to NRF.
Last year, NRF’s Thanksgiving weekend survey didn’t include Cyber Monday sales, creating the two non-comparable.
“Younger consumers (those under 34) are still savvy when the idea comes to online shopping in addition to leveraged their smartphones the most to browse for the best deals coming from some of their favorite retailers,” Phil Rist, executive vice president of strategy for Prosper Insights & Analytics, said in a statement. Prosper conducted the survey with NRF.
A separate report by Adobe Insights found of which $6.59 billion was spent online on Cyber Monday, with mobile devices ringing up a record $2 billion in sales in one day. of which made Monday the biggest online shopping day in U.S. history.
Meanwhile, a record $5.03 billion was spent online during Black Friday, an increase of 17 percent when compared with last year, according to Adobe. The firm measures 80 percent of online transactions coming from 100 major U.S. retailers.
Top-selling items online over the weekend included the Nintendo Switch, Hatchimals, L.O.L. Surprise in addition to ride-on cars for kids, Adobe said.