Investing.com - The National Retail Federation reported Sunday
that total estimated spending over the Thanksgiving holiday weekend
fell from last year, as holiday shoppers took advantage of earlier
store openings on Thanksgiving Day.
The NRF said overall spending was expected to reach USD57.4 billion
for the weekend, down from USD59.1 billion in 2012, the first
decline in spending since 2009. Shoppers spent an average USD407
Thursday through Sunday, compared with around USD423 in 2012.
The group says earlier discounts led consumers to shop before the
weekend, while deep discounts pushed prices down.
The retail industry's main trade group said it still expects total
holiday sales through the year's end to increase by 3.9% to
On Thanksgiving Day, foot traffic was up 27% to almost 45 million,
compared to the 35 million people who shopped on the holiday last
year, as retailers opened earlier.
Thanksgiving Day "is now becoming a very critical part of the
overall weekend," Matthew Shay, president and chief executive of
the National Retail Federation said. "It's clear that people want
to be out that night, and retailers are responding."
Black Friday remained the largest shopping day, but foot traffic
increased by only 3.5% from last year to 92 million, the retail
Overall, more than 141 million shoppers visited stores and
retailers' websites from Thanksgiving through Sunday. In the same
period last year there were a combined 139 million shoppers, the
On average, consumers spent USD177.67 online, accounting for 44% of
their total weekend shopping.
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