Once the turkey dinner is done this Thanksgiving weekend, Nevada consumers will begin flocking to shopping destinations to hunt for Thanksgiving Day and Black Friday deals, the Retail Association of Nevada reports.
“The shopping marathon will continue into Small Business Saturday (Nov. 30) and conclude with the final round of sales on Cyber Monday,” (Dec. 2) the association said in an announcement last week.
“The Retail Association of Nevada estimates that 1.65 million adults in the Silver State are planning or considering to shop over the four-day Thanksgiving weekend and Cyber Monday, a time when retailers seek to boost sales by offering an abundance of deals,” the statement continued.
Based on National Retail Federation (NRF) survey data, the Retail Association of Nevada projects up to $593 million will be spent across Nevada over Thanksgiving weekend and Cyber Monday, a 5.5 percent increase from the estimated $562 million spent a year ago.
“Nevada retailers are preparing for a robust holiday shopping season,” Bryan Wachter, senior vice president of Retail Association of Nevada. “Small retailers play a vital role in our state’s economy, and all Nevadans will see a benefit from these strong holiday spending trends.”
The Retail Association of Nevada projections are based on nationwide survey data from the National Retail Federation (NRF), which estimates that over 165 million Americans are planning or considering to shop at stores or online outlets between Thanksgiving Day and Cyber Monday.
Black Friday, as usual, will be the busiest day of the shopping weekend, with 69.3 percent of shoppers planning to camp out or wake up at the crack of dawn to find the best deals of the holiday season, the association said in its news release. Cyber Monday will be the second-busiest day of the extended shopping weekend, with 41.6 percent of shoppers planning to make a purchase.
A growing trend involves shoppers hitting stores on Thanksgiving Day. About a quarter of shoppers on Thanksgiving weekend (24 percent) plan to shop on the holiday itself, which is up from about 20 percent in recent years. Additionally, 40.3 percent of shoppers plan to participate in Small Business Saturday and another 20.1 percent plan to shop on Sunday.
Two-thirds of consumers cited the deals offered during the Thanksgiving weekend and Cyber Monday as the reason they will shop, making it the primary reason for shopping during that period.
Tradition was the second-most cited reason, with 28.0 percent of consumer responses. Consumers this year are shopping at brick and mortar stores at a higher rate than the past few years.
According to the NRF survey, 47.0 percent of Thanksgiving weekend consumers will begin their shopping in-store, while 41 percent will check online for deals first.