Retailers: Holiday shopping down over weekend
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There was a little less activity in stores throughout the United States over the holiday weekend as early holiday promotions and the continued growth of online shopping contributed to a 5.2-percent drop in shopper traffic from Thanksgiving Day through Sunday, according to a key retailers’ organization.
According to its Thanksgiving Weekend Shopping Survey, the National Retail Federation (NRF) said there were 133.7 million unique holiday shoppers, down from 141.1 million in 2013.
The NRF said an improving economy also kept more shoppers home.
“A strengthening economy that changes consumers’ reliance on deep discounts, a highly competitive environment, early promotions and the ability to shop 24/7 online all contributed to the shift witnessed this weekend,” NRF President and CEO Matthew Shay said in a statement. Shay called this an “evolutionary change in holiday shopping by both consumers and retailers, and (we) expect this trend to continue in the years ahead.”
According to the survey, the average person who shopped or intended to shop during the weekend spent about $381, down 6.4 percent from $407 last year. Meanwhile, total spending is expected to reach $50.9 billion, down from last year’s estimated $57.4 billion. Additionally, more than three-quarters (77.2 percent) of survey respondents said they took advantage of retailers’ online and in-store promotions to buy non-gift items for themselves or their family, similar to last year’s 76.4 percent, the survey revealed.
But even today, Cyber Monday, the NRF expected a slight drop in online sales. A separate survey revealed that 126.9 million shoppers planned to shop online today, down from the 131.6 million who had planned to do the same last year on the Monday after Thanksgiving.
But Shay said online shopping extends well beyond Cyber Monday.
“For today’s shopper, every day is ‘Cyber Monday,’ and consumers want and expect great deals, especially online, throughout the entire holiday season – and they know retailers will deliver,” he said. “Retailers will still offer unique deals exclusive to Cyber Monday, but consumers also know shopping on Cyber Monday won’t be their last chance to find low prices and exclusive promotions.”
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