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Holiday shoppers in US set to spend big

  • Author:Linki
  • Source:https://www.chinadaily.com.cn
  • Release on:2019-11-28
Holiday shoppers in US set to spend big

American shoppers are expected to spend up to $730 billion during Thanksgiving, Black Friday, Cyber Monday and Christmas this year, and much of it will be done online, according to a poll by the National Retail Federation (NRF).

The annual holiday spending bonanza, which the NRF tracks from Nov 1-Dec 31, is a time-honored tradition that is as much a part of the holiday season for many Americans as eating turkey with their families.

More than 165 million people will shop in stores and online during the busiest shopping days of the year – the five days between Thanksgiving Day on Nov 28, through Cyber Monday on Dec 2. They could spend more than $7 billion online on Black Friday alone (topping last year's total), experts say.

"The tradition of Thanksgiving weekend holiday shopping has become a five-day event with consumers spending money in stores, supporting local small businesses, and online with their mobile devices and computers," NRF President and CEO Matthew Shay said in a statement.

The NRF, which polled 7,917 adult consumers for the survey, found that 56 percent of consumers had already begun their holiday shopping by the first week of November, about the same as the past few years.

That was up from 48 percent who had already started at the same point a decade ago. On average, consumers had completed 24 percent of their shopping, the highest level in the history of the survey and up from 16 percent in 2009. Only 4 percent had completely finished shopping.

Shay added: "The holiday season has grown far beyond the period between Thanksgiving and Christmas. Thanksgiving is still a hallmark of the season, and there's billions of dollars in shopping still to come."