Americans are itching to get back into their holiday traditions this year—including the traditional post-Thanksgiving shopping blitz.
why it matters: Black Friday and Cyber Monday aren’t the seismic economic and cultural events they used to be, and supply-chain issues have taken a toll on things this year, but retailers are hoping shoppers return after a year of isolation. Will come – and spend big.
- Katherine Cullen, a senior director at the National Retail Federation, tells Nerdshala, “the feeling of wanting to last year” is an important motivator right now.
By numbers: According to an NRF survey conducted earlier this month, around 158 million people are expected to shop in stores or online between now and Monday.
- That’s nearly 2 million more than people who participated in post-Thanksgiving shopping last year, but 7 million fewer than the same weekend in 2019.
yes but: Retailers still expect a big increase in overall sales, as more people plan to spend more.
- in a separate study from NPD Group34% of buyers say they plan to spend more and buy more gifts because of family and social interactions.
big picture: black friday lost Word’s meaning Years ago sales days were multiplied by earlier in the year.
- Holiday shopping especially kicked off earlier this year as stores and brands warned people to be ahead of any inventory issues caused by supply chain delays.
- Major retailers including Amazon, Target, Walmart and Best Buy also started running Black Friday promotions and value pledge as early as October.
what to watch: According to NRF, of those planning to shop tomorrow, 64% (69.1 million) say they are likely to visit a store, up from 51% last year.
- with that line up NPD Group FindingsAbout six out of ten people say they feel comfortable making a personal purchase after vaccines are widely distributed.