Shopping center association, ICSC, reported the Thanksgiving weekend period saw robust consumer traffic despite earlier promotional events leading up to the traditional beginning of the holiday shopping season.
Over the five-day period, the former International Council of Shopping Center reported that 78% of adults in the United States, or 201.5 million people, shopped and/or purchased, the same percentage as in 2021. Most (66% of shoppers surveyed) spent on holiday gifts, dining (46%) and holiday-related goods and services (25%).
Other results derived from ICSC’s online Thanksgiving Weekend research:
- 66% of holiday weekend shoppers, about 119.7 million adults, spent money at a physical store during the period, up 5% from the 2022 Thanksgiving weekend.
- 48% made purchases from Amazon or other pure-play online retailers.
- Shoppers cited the ability to physically see or touch merchandise (50%), browsing for new gift ideas (35%) and an overall preference for in-store shopping (34%) as primary motivations for visiting a store.
- Of those who shopped online, 63% cited convenience and half cited cheaper prices or better promotions as prompting their digital choices.
- Consistent with recent years, most purchasers spend money at discount department stores (61%), restaurants and dining operations (36%) and traditional department stores (31%), representing a switch in second and third positions.
- Most spending occurred on Black Friday, as consumers did 38.7% of their total weekend spending that day, while Cyber Monday accounted for 18.3% of spending.
- 54% of consumers shopped with small or locally owned community businesses to demonstrate support.
- 50% agreed they shopped just as much or more over the long weekend as they have in years past, with 67% saying the weekend remained just as important for their holiday shopping.
ICSC added that 73% of Thanksgiving weekend shoppers visited a shopping center during the period to browse, make purchases or engage in other activities and services.
“The early start to the shopping season didn’t stop people from shopping on Black Friday and throughout the holiday weekend, including Cyber Monday, and consumers indicated they still have more shopping to do,” said Tom McGee, ICSC president and CEO. “Discount department stores saw particularly strong traffic, and in-store shopping overall was positive as deals extended across the weekend. Not surprisingly, shoppers are seeking the best prices and deals and seem willing to wait until they can find them. “
