AuctionsMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
SurveysNov 28, 2018
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
weekend included department stores (42 percent), online retailers (38 percent), apparel stores (30 percent), grocery stores (30 percent), discount stores (29 percent) and electronics stores (27 percent).
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.
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.
More on Surveys
The Latest
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Weekly QuizMay 09, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, 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.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
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.
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler VhernierThe branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up CoutureThe six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s WatchesThe highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New CollectionThe “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler ScholarshipThe Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark ApplicationThe Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
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.
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. ShowroomThe Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate ScholarshipIt will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
