An estimated 164 million people are planning to shop Thanksgiving Day through Cyber Monday, according to a survey from the National Retail Federation and Prosper Insights & Analytics.
The survey found that of those planning to shop during the long holiday weekend 21% (34 million) plan to shop on Thanksgiving Day, but Black Friday will remain the busiest day with 71% (116 million) planning to shop.
In addition, 41% (67 million) are expected to shop on Small Business Saturday, and 78% of those say they will do so specifically to support small businesses. On Sunday, 20% (32 million) are expected to shop. The shopping weekend will wrap up on Cyber Monday when 46% (75 million) are expected to take advantage of online bargains.
“Whether it’s heading to the stores after finishing their turkey or going online on Cyber Monday, consumers will be shopping all weekend and retailers will be ready to meet the demand,” said Matthew Shay, NRF president and CEO. “Retail is a vibrant, dynamic and competitive industry, but one thing is certain— consumers are the winners no matter which day or which way they shop.”
Of those shopping this year, 65% said they are doing so to take advantage of deals and promotions retailers will offer, while 26% cited the tradition of shopping over Thanksgiving weekend and 23% said it is something to do over the holiday weekend and the same number said it is when they start their holiday shopping.
The survey, which asked 7,516 consumers about their shopping plans, was conducted October 29 to November 7 and has a margin of error of plus or minus 1.2 percentage points.