ICSC: 207 million Americans shopped over Thanksgiving weekend
The vast majority of American adults shopped during the five-day period between Thanksgiving and Cyber Monday, a slight increase from last year.
That’s according to new data from commercial real estate and retail membership organization ICSC, which reported that 207 million people, or 79% of all U.S. adults, bought items either in-store or online during the period. In 2023, 75% of all U.S. adults reported doing so.
Consistent with 2023, 69% of shoppers spent on gifts for others, while 46% spent on dining and 22% spent on entertainment and activities. Nearly six-in-10 (57%) Thanksgiving weekend shoppers said they shopped just as much or more than in the past, similar to 56% who said the same in 2023. Sixty-eight percent of shoppers said the weekend after Black Friday as a whole remains just as important specifically for holiday purchases as it once was, even as deals become more spread out throughout the season.
ICSC found that brick-and-mortar stores remained integral to the shopping journey, with 78% of consumers making purchases either in-store or online for in-store pickup. Among those collecting orders at physical locations, 70% seized the opportunity to make additional purchases.
While price sensitivities remain, fewer consumers felt limited by higher prices over the five-day period. More than half (53%) said they cut back on buying non-holiday items to save money for gifts, down five percentage points from 2023.
[READ MORE: Black Friday online sales break records]
“Thanksgiving weekend showed clear signs that consumers are maintaining strong spending habits, with shoppers driving significant in-store and online traffic over the five-day period,” said ICSC president and CEO Tom McGee. “Cooling inflation rates and the opportunity to snag the best deals influenced a strong shopper turnout, and retailers who successfully balanced deals with value and experience captured consumer attention during the most central shopping weekend of the year. Despite the condensed period between Thanksgiving and Christmas, our Post-Thanksgiving Weekend Survey found that a majority of consumers have a substantial amount of shopping left to do – signaling strong momentum for the remainder of the season and ample opportunities for retailers to build on the success of this past weekend with consumers.”
Other insights from ICSC’s data include the following:
- The weekend prompted 70% of respondents to take advantage of promotions to buy items they previously delayed purchasing because the price had been too high.
- Of the shoppers who purchased non-holiday items, 82% leveraged deals to stock up on essentials, compared to 58% who purchased non-essential items.
- Retailers will remain busy during the remainder of the holiday season, as 60% of respondents said they still have a significant number of purchases to make.
- Black Friday still accounts for the largest share of purchases (39%) made over the five-day weekend, followed by Cyber Monday (19%).
