Shoppers are preparing to troop out in huge numbers for the upcoming five-day holiday shopping weekend, from Thanksgiving through Cyber Monday.
To make sense of it, National Retail Federation hosts interviewed Katherine Cullen, NRF’s director of retail and consumer insight, to share survey research and talk about how holiday shopping trends have changed in recent years.
Here are a few top-line highlights from NRF’s latest Retail Gets Real podcast featuring Katherine Cullen:
- In November and December, consumers say they will spend about $40 more than last year for an average $1,048 for their entire list of gifts.
- Overall, NRF expects up to a 4.2% increase this year in holiday consumer spending
- Retailers began sales promotions earlier this year.
- More than half of the 165 million shoppers expected this weekend have at least already begun holiday shopping.
- Though Black Friday had been the traditional start of the holiday shopping season, technology has changed that. Thanks to the ease of smartphone shopping and online with computers, more shoppers start on Thanksgiving and wrap up the first holiday rush on Cyber Monday.
- Though younger shoppers are more likely to use their phones, most say they also like shopping in stores.
- Increasingly, all shoppers are trying multi-channel shopping at stores, with a computer or their smartphone, depending on which method is most convenient.
- Clothes and accessories together with gift cards are among the most popular gifts for adults.
- Barbie dolls continue as the perennial favorite of girls while PJ Masks action figures are popular with boys.
- Some online shoppers are in a hurry. About a third of online shoppers age 35 and under ask for same-day delivery, twice the number compared to 2015.