Majors

NRF: 174M Americans Shopped Over Thanksgiving Weekend

MajorsNov 28, 2017

NRF: 174M Americans Shopped Over Thanksgiving Weekend

This exceeded the National Retail Federation’s expectations, as consumers took advantage of deals and good weather.

Washington--More than 174 million Americans shopped in stores and online between Thanksgiving Day and Cyber Monday, according to the National Retail Federation.

This beat the NRF’s initial estimate that 164 million people would shop over the weekend.

This year marked the first that the National Retail Federation included Cyber Monday data in its final review of the weekend, which, combined with a new methodology for gathering numbers, means that it cannot make comparisons to previous years.

Though the NRF did not release total sales numbers for the weekend, it said overall, it was a strong start to the holiday season for retailers.

In a conference call Tuesday, CEO Matthew Shay attributed retailers’ performance to a number of factors: positive consumer sentiment, the overall health of the macro economy, favorable weather across the country and an investment from retailers in both the in-store experience and technology.

Shay also added that for first time in several years, there were no disruptive external factors, like the so-called fiscal cliff, a government shutdown, elections or Brexit, looming over the weekend.

These positive results from the NRF mirror what many jewelers told National Jeweler Monday morning when asked how the start of the holiday shopping season went for them.

According to the NRF, among those who shopped over the weekend, 60 percent said they were mostly driven to shop by the sales. Forty eight percent said the deals they saw this weekend were better than those earlier in the season, which indicates that retailers were ready with the right inventory mixes at good prices, Shay said.

The average spend per person over the five-day period was $335.47.

The demographic that spent the most was the 25- to 34-year-old age group at $419.52. Interestingly, 50 percent of that age group was shopping at department stores, either in store or online.

Fifty eight million consumers shopped exclusively online, 51 million shopped exclusively in store and 65 million did both. The multichannel shopper spent $82, or 32 percent more, on average than the online-only shopper, and $49, or 17 percent more, on average than the in-store shopper.

Top shopping destinations included department stores (43 percent), online retailers (42 percent), electronic stores (32 percent), clothing and accessories stores (31 percent), and discount stores (31 percent).

Some of the most popular gifts purchased included clothing or accessories (58 percent), toys (38 percent), books and other media (31 percent), electronics

(30 percent) and gift cards (23 percent).

The most popular day for in-store shopping was Black Friday followed by Small Business Saturday. The top two days consumers shopped online were Cyber Monday and Black Friday.
RELATED CONTENT: The 10 Days Predicted to be the Busiest This Holiday Season
Looking ahead, Shay said he expects a strong holiday season, between the success of this weekend and the four full weekends of shopping left.

Still, according to the NRF, 91 percent of shoppers still have more shopping to do and 90 percent of them expect promotions to be the same or better as the holiday season progresses.

“A big key (to meeting expectations) is going to be capturing the momentum that we’ve seen over the last few days, turning that consumer interest into actual sales,” Shay said. “To make that happen, I think we’ll see retailers focusing on their inventory management, pulling all the levers that they can in all areas so ensure they’ve got the right product in the right place, the merchandising mix, the pricing mix, the marketing.”
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Kimberly Adams Russell
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEO

Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.

Birth of Venus necklace
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ Necklace

As a token of womanhood, this necklace depicts when Venus was born from the sea.

Lauren K Mosaic necklace
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms  

Show your mother some love with a piece of fine jewelry.

Header image w logo.jpg
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a Tradeshow

Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.

Kyle Edward Fine Jewelry
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury Store

The company’s Easton location will remain open.

Weekly QuizMay 09, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these seven questions.
Take the Quiz
Las Vegas Antique Jewelry and Watch Show Bracelets
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch Show

Sponsored by the Las Vegas Antique Jewelry and Watch Show

Vikki Tobak
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ Exhibition

Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.

national-jeweler-top-image-v1.jpg
Brought to you by
Rio’s Reimagined Podcast: For the Love of Jewelers

Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.

Cynthia Erivo, Zendaya, Lewis Hamilton at the Met Gala
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met Gala

Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.

Rendering of M.S. Rau pop-up shop in Aspen, Colorado
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen

M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.

Vhernier Calla necklace rose gold and ebony
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler Vhernier

The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.

The six Couture Luminaries designers 2024
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up Couture

The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.

Sylvester Stallone watch auction
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s Watches

The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.

Models Wearing Venetian Link Bracelets and Necklaces
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New Collection

The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.

Jewelers of America logo
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler Scholarship

The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.

Rolex and Hallmark logos
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark Application

The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.

Anglo American executive Benny Oeyen
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen

The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.

Opening of Malabar Gold & Diamonds store in Naperville Illinois
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. Showroom

The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.

Ben Bridge Jeweler Logo
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate Scholarship

It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.

Mug shots of murder suspects Michael McCormack and Charles Robinson Shay
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado Jeweler

Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.

Five Platinum Pieces
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight Program

PGI partnered with four new and seven returning designers for its annual platinum capsule collection.

Kristie Nicolosi
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board Again

Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.

Karina Brez Bit of LUV Bracelet
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the Derby

Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.

Stock image of handcuffs and gavel
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian Families

The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.

Horizon Campaign Collage
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection

“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.

Pandora jewelry
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1

The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.

Glenn Lewis
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68

The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy