According to the NRF (National Retail Federation), holiday sales during November and December are expected to grow between $843.4 billion and $859 billion (8.5% and 10.5%, respectively). In other words, Americans will spend an average of $997.73 on Black Friday and Thanksgiving.
Moreover, according to NRF’s survey, almost 2 million people plan to shop from Thanksgiving to Cyber Monday. NRF’s CEO, Matthew Shay, believes this will be the “record-breaking holiday season,” with Thanksgiving Day playing a significant role.
On that note, the average selling price also grew by 12%. Still, in spite of the increase, retailers expect to have a good holiday season.
To sum it up, about 158.3 million people plan to go shopping during the Thanksgiving weekend, and 30.6 million people intend to do their online or in-store shopping on Thanksgiving Day. What’s more, 65% of people plan to return to in-store shopping (50% more than last year).
Furthermore, 108 million Americans are expected to splurge their credit cards on Black Friday. For comparison, in 2020, Americans spent $9 billion on Black Friday sales.
In-store shopping will also play a significant role, given that 64% of Americans are planning to do in-store shopping (51% more than last year). And according to WalletHub, the average Black Friday discount will amount to 32%.
When it comes to Cyber Monday (November 29) and Small Business Saturday (November 27), 62.8 million, i.e., 58.1 million Americans plan to go on a shopping spree during said events.
