A survey from the National Retail Federation and Prosper Insights & Analytics projects a record 186.9 million consumers are planning to shop from Thanksgiving Day through Cyber Monday.
The total is up by more than 3 million shoppers from the then-record 183.4 million intended shoppers in 2024, according to NRF.
Although sought-after promotions will span the entire five-day period, Black Friday retains its popularity during the Thanksgiving weekend, with 70% of shoppers intending to visit stores. Four in 10 shoppers expect to engage with stores on Cyber Monday. Some 36% plan to shop on Saturday. Eight in 10 such shoppers will consider spending with local businesses on Small Business Saturday.
As of early November, 58% of consumers said they had started their holiday shopping, in line with the past five years. On average, holiday shoppers had completed around 26% of their planned purchasing, NRF stated.
Top items consumers plan to gift this holiday season are clothing and accessories (selected by 50%), gift cards (43%) and toys (32%). In their shopping, 41% of consumers will use online search for shopping inspiration, 35% will use friends and family, 28% will use retail store sales floors and 23% will use wish lists.
Gift card spending will increase this year. NRF noted that total gift card spending is likely to reach $29.1 billion, up from $28.6 billion in 2024. Consumers expect to purchase three to four gift cards and spend an average of $171.32 per person on them, the survey indicated.
For the fifth consecutive year, debit cards were the most popular payment method for purchasing holiday gifts, at 44%, followed by credit cards at 37% and cash at 16%. At the same time, 59% of consumers plan to use digital wallets and apps, consistent with the past few years.
NRF forecasts that holiday spending will surpass $1 trillion for the first time during the November and December holiday selling season, with sales predicted to grow between 3.7% and 4.2% versus 2024, suggesting a total spend of between $1.01 trillion and $1.02 trillion.
“The holidays are an important part of many consumers’ budgets, and that trend is especially true this season,” said Katherine Cullen, NRF vice president of industry and consumer insights. “As a record number of shoppers are expected this Thanksgiving weekend, retailers are prepared to meet the needs of consumers with great value and convenience.”
Phil Rist, Prosper Insights and Analytics executive vice president of strategy, added, “Many Americans consider shopping to be an important part of their Thanksgiving holiday and one of the best ways to get deals on gifts. Of those planning to take advantage of sales, over half say it’s because the deals are too good to pass up. Others point to the tradition or simply say they like to start their holiday shopping during the long weekend.”
