The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
Fewer Consumers Shopped Over Thanksgiving Weekend, NRF Says
More than 165 million Americans were spending money in stores or online, down from the 174 million in 2017.
Washington—More than 165 million Americans shopped in stores or online during the Thanksgiving holiday weekend, according to the National Retail Federation and Prosper Insights & Analytics.
Prosper Insights performed a survey on behalf of the NRF, asking 3,058 consumers about Thanksgiving weekend and Cyber Monday shopping plans on Nov. 24 and 25.
While the final shopper turnout figure is more than the 164 million predicted in the NRF pre-holiday survey, it is a 5 percent decrease when compared with last year.
The NRF speculated that with more days to shop before Christmas this year, consumers were not feeling the need to spend money over Thanksgiving weekend and are taking their time.
Additionally, according to insights released by ShopperTrak, visits to brick-and-mortar retail stores and shopping centers were down 1 percent in the combined two-day period of Thanksgiving Day and Black Friday when compared with last year. On Black Friday specifically, foot traffic was down 1.7 percent.
ShopperTrak said this slight traffic variance is consistent with results over the past few years.
When it came to how much shoppers were spending, the NRF’s survey shows that the average shopper spent $313.29 on gifts and other holiday items over the five-day span from Thanksgiving to Cyber Monday, 69 percent of which went specifically to gifts.
The biggest spenders were older millennials (those in their early 30s) and Generation Xers who are 35 to 44 at $413.05.
RELATED CONTENT: Millennials Expected to Spend the Most This Holiday Season
Additionally, a new trend popped up among younger consumers.
Members of the Gen Z demographic and younger millennials spent an average of $149 on gifts for themselves—more than any other generation.
Consumers also increasingly were shopping omnichannel, with more than 89 million people indicating they shopped both online and in stores, a nearly 40 percent increase from last year. What’s more, the “multichannel shopper,” as the NRF identified them, outspent the single-channel shopper by an average of $93.
Top purchases over the weekend included apparel (57 percent), toys (34 percent), books and video games (29 percent), electronics (26 percent) and gift cards (20 percent).
Not surprisingly, the most popular day to shop online was Cyber Monday, as indicated by 67.4 million shoppers, followed by Black Friday with 65.2 million shoppers.
The most popular day for in-store shopping was Black Friday with more than 67 million shoppers, followed by Small Business Saturday with 47.4 million shoppers.
Top shopping destinations during the
As mentioned before, there is less of a rush this shopping season with more days allowing for chances before Christmas.
On average, consumers have more than half (56 percent) of their holiday shopping remaining, according to the NRF survey. A vast majority of consumers (92 percent) said they think the strong deals seen over Thanksgiving weekend will continue or improve throughout the rest of the season.
The NRF did not offer any final sales numbers for the weekend, but it’s been reported that a record $6.22 billion was spent online on Black Friday while $3.7 billion was spent online Thanksgiving Day.
The NRF forecasts that holiday spending will increase between 4.3 and 4.8 percent over last year.
The Latest
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.