What’s next for U.S. retailers after the Thanksgiving shopping weekend
Summary
During the Thanksgiving shopping weekend, which ended on Cyber Monday, U.S. shoppers actively looked for deals despite concerns about the economy. Both online and in-store sales increased, with a significant growth in online shopping. The National Retail Federation anticipates holiday sales to rise compared to last year.Key Facts
- Thanksgiving weekend is considered the unofficial start to the holiday shopping season.
- Online sales during Cyber Week reached $44.2 billion, a 7.7% increase from the previous year.
- Cyber Monday saw $14.25 billion in online spending, making it the biggest online shopping day of the year.
- Online shopping now makes up 30% of total holiday sales, compared to 15% in 2012.
- More than 235,000 people visited the Mall of America on Black Friday, the highest on record for the mall.
- Black Friday's overall sales grew by 4.1% from the previous year, with a significant 10.4% increase in online sales.
- The National Retail Federation expects holiday season sales to be between $1.01 trillion and $1.02 trillion, up 3.7% to 4.2% from last year.
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