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Finance News - Holiday Sales Expected to Grow Between 8.5% and 10.5%1

Holiday Sales Expected to Grow Between 8.5% and 10.5%

  • Marina Avramovic
  • December 16, 2021

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.

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Marina Avramovic

Marina is a content writer and a film-maker who spends most of her time in front of the computer, writing articles and blog posts on various subjects, learning fictional languages or editing avant-garde movies. This compulsive penchant for learning new ways of dreaming and writing became her dream job. When she's not obsessing about work she tries to cook, read dystopian novels and go on adventures with her dog.

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