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Nov 28, 2011

Black Friday Shoppers Spend Record $52 Billion

PrintBlack Friday Shoppers Spend Record $52 Billion  


Number of early bird shoppers highest in survey history

With midnight openings and Black Friday specials, shoppers were out in force, spending record amounts in stores and online last weekend, according to a National Retail Federation (NRF) survey conducted by BIGresearch.

A record 226 million shoppers visited stores and websites over Black Friday weekend, up from 212 million last year, according to the survey. NRF’s definition of Black Friday weekend includes Thursday, Friday, Saturday and projected spending for Sunday. The survey estimates number of shoppers, not people.

The average holiday shopper spent $398.62 this weekend, up from $365.34 last year. Total spending reached an estimated $52.4 billion. Additionally, shoppers also checked out retailers’ deals online, spending an average of $150.53 on the Web – 37.8 percent of their total weekend spending.

“Stuffed to the brim from their holiday meals and eager to shop, more consumers than ever turned out for retailers’ Black Friday promotions, a promising sign for the economic recovery,” says NRF President and CEO Matthew Shay. “After an historic holiday weekend, retailers know the holiday season is far from over and will continue to look for ways to keep excite holiday shoppers and build on the momentum we’ve seen thus far.”

The survey found 28.7 million people shopped online and at stores on Thanksgiving Day – up from 22.2 million last year. More people than ever before also shopped online and in stores on Black Friday, as 86.3 million shoppers braved the crowds that day alone.

More than 24 percent of Black Friday shoppers were at the stores by midnight on Black Friday, either waiting for stores to open or visiting retailers who opened on Thanksgiving evening.

Lured by promotions on everything from winter apparel to tablet devices, shoppers definitely stocked up on discretionary gifts this year. More than half (51.4 percent) bought clothing and clothing accessories, and gift buyers were also drawn to promotions on electronics and computer-related accessories over the weekend. Nearly four in 10 (39.4 percent) bought electronic items, up from 36.7 percent last year. Additionally, shoppers stocked up on home décor (21.3 percent), gift cards (23.1 percent), toys (32.6 percent), and jewelry (21.8 percent).

Scouring deals from discount stores to grocery stores, shoppers visited a variety of retailers over the weekend. The most popular shopping destinations once again were at department stores (48.7 percent) and discounters (37.5 percent). Additionally, consumers also shopped at clothing stores (24.6 percent), drug stores (14.0 percent) and grocery stores (23.8 percent), electronics stores (30.8 percent) and craft or fabric stores (7.9 percent.) As retailers leverage their websites to offer deals for online holiday shoppers, more people logged onto retailers’ websites over the weekend (35.2 percent vs. 33.6 percent last year).
 

For the first time, NRF asked how shoppers would use their smartphones and tablets. More than 25 percent of Americans with tablet devices said they did or will purchase items with their devices, and 37.4 percent will or have researched products and compared prices with their tablets. Overall, 57.1 percent said they have or will use their tablet devices to shop for gifts this weekend.
 

The survey, conducted Nov. 24-26 by BIGresearch for NRF, polled 3,826 consumers and has a margin of error of plus or minus 1.6 percent.

 








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