De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Thanksgiving Deals Draw Record Number of Shoppers, Says NRF
Sales from Thanksgiving through Cyber Monday attracted nearly 190 million shoppers, 14 percent more than last year.
Washington—A record number of shoppers flocked to sales from Thanksgiving through Cyber Monday this year and spent more than last year, according to a survey by the National Retail Federation and Prosper Insights & Analytics.
The survey shows nearly 190 million million U.S. consumers shopped online or in stores over the five-day period, a 14 percent increase over 166 million last year.
But, how much did they spend and what did they buy?
Read on to find out as National Jeweler outlines the survey’s findings, which NRF executives divulged in a conference call late Tuesday morning.
How much did shoppers spend?
According to the survey, consumers spent an average of $361.90 on holiday items over the five-day period, 16 percent more than the $313.29 spent last year, with 71 percent ($257.33) being spent on gifts.
The 25- to 34-year-old shoppers were the biggest spenders at $440.46, followed by shoppers ages 35-44 at $439.72.
Where did they shop?
The survey noted 124 million people shopped in stores while more, 142 million, shopped online.
Shoppers who bought things both online and in stores spent at least 25 percent more ($366.79) than those who shopped through only one channel.
Department stores were the top shopping destinations, cited by 50 percent of those surveyed.
Clothing stores came in second at 36 percent, followed by grocery stores at 34 percent, electronics stores at 32 percent, and discount stores at 29 percent.
When did they shop?
The busiest day for in-store shopping was Black Friday, with sales luring 84 million shoppers, followed by Small Business Saturday with 60 million.
As for Saturday shoppers, 73 percent were likely to shop specifically for Small Business Saturday, according to the survey.
Thanksgiving Day shoppers totaled 38 million, while 29 million shoppers hit stores Sunday.
Cyber Monday came in fifth place, with 22 million shoppers.
This year was the first time Black Friday (93 million shoppers) topped Cyber Monday (83 million) as the busiest day for online shopping.
Saturday sales drew 58.2 million shoppers online, followed by 49.7 million Thanksgiving Day and 43.1 million Sunday.
Who was shopping?
Men and younger consumers are usually the shopping procrastinators, NRF CEO Matt Shay said on Tuesday’s call, but not so this year.
The survey found 87 percent of shoppers under 25 hit stores in the five-day period from Thanksgiving to Cyber Monday this year, up from 69 percent last year.
For men, 73 percent were out shopping, compared with 65 percent last year.
How about online sales?
“The growth in online retail sales is a tide that lifts everybody,” Phil Rist, Prosper’s executive vice president of strategy, said in a press release announcing the survey results.
For online shoppers, free shipping was the biggest draw to make a purchase they were otherwise hesitant about, according to 49 percent of respondents, up from 42 percent last year.
Being able to buy online and pick up in-store, also known as BOPIS, was another top reason, cited by 20 percent of respondents, up from 15 percent last year.
Limited-time sales and promotions were factors for 38 percent of respondents, while 21 percent cited a user-friendly website or app.
Shoppers hunting for a bargain looked to emails from retailers, 39 percent, just ahead of advertising circulars and online search, which tied at 38 percent.
Mobile devices were used by 75 percent of respondents to research products, compare prices, and make purchases, compared with 66 percent last year.
What did they buy?
Apparel took the top spot for gift purchases at 58 percent, followed by toys at 33 percent, electronics at 31 percent, books, music, movies, and video games at 28 percent, and gift cards at 27 percent.
Consumers, on average, finished 52 percent of their shopping during the five-day period, compared with 44 percent during the same weekend last year. (However, it's worth noting that Thanksgiving was six days earlier in 2018.)
The survey also found 39 percent of shoppers believe deals will get better as the holiday season continues.
Will the tariff negotiations affect holiday sales?
The impact of the current tariffs was not felt this holiday weekend, Shay said on the call.
He noted 80 percent of consumers are aware of, and concerned about, the impact of tariffs on consumer prices, but said shoppers are still out there buying and behaving confidently.
“We know that up to this point, consumers have paid nearly $40 billion in increased prices because of existing tariffs,” said Shay.
“We’re hopeful that we see some positive resolution to trade conversations that are taking place in a number of places now.”
Shay warned against trying to “armchair-quarterback things,” and instead let the situation play out.
Holiday retail sales are expected to increase between 3.8 percent and 4.2 percent year-over-year, with sales totaling as much as $730.7 billion, according to an earlier NRF survey.
The NRF surveyed 6,746 adult consumers from the Wednesday before Thanksgiving through Cyber Monday.
The Latest
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.