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WASHINGTON — An estimated 197 million shoppers participated in the Thanksgiving to Cyber Monday holiday weekend, according to the National Retail Federation (NRF) and Prosper Insights & Analytics. While the figure falls slightly below last year’s record of 200.4 million, it far exceeded NRF’s initial projection of 183.4 million.
“Thanksgiving weekend retains its prominence among holiday spending events and continues to play a significant role in the holiday season for both consumers and retailers,” said NRF President and CEO Matthew Shay. “Even with this year’s shortened shopping period and the multitude of early sales promotions from retailers, this past weekend exceeded expectations in terms of the sheer volume of shoppers.”
The weekend saw robust in-store traffic, with 126 million consumers shopping in stores, up from 121.4 million last year. Black Friday, the most popular day for in-store shopping, drew 81.7 million shoppers, the highest number since the pandemic, while 61.1 million visited stores on Saturday. While slightly down overall, online shopping still attracted significant numbers, with 124.3 million consumers shopping online, compared to 134.2 million in 2023.
Cyber Monday continued to dominate online shopping, drawing 64.4 million consumers. Mobile shopping surged to new heights, with 63% of Cyber Monday online shoppers using their mobile devices, up from 55% last year.
The top shopping destinations over the five-day period included department stores (42%), online (42%), grocery stores (40%), clothing and accessories stores (37%), and discount stores (32%). Holiday gifts remained the focus for most shoppers, with 86% purchasing gifts and spending an average of $235 — $8 more than last year. Popular categories included clothing and accessories (49%), toys (31%), gift cards (27%), and personal care items (23%).
The NRF forecasts record holiday spending this year, with projected growth of 2.5% to 3.5% over 2023, totaling $979.5 billion to $989 billion. While 38% of shoppers began buying during the week before Thanksgiving, 52% still have holiday purchases left to make.
“Whether it’s tradition, the deals, or simply an activity with friends and family, consumers continue to embrace Thanksgiving holiday weekend shopping,” said Phil Rist, Prosper’s Executive Vice President of Strategy. “Retailers are making it easier than ever for shoppers to cross items off their lists.”
The findings are based on a survey of more than 3,000 adults conducted from Nov. 27 to Dec. 1. The margin of error is plus or minus 1.8 percentage points.
