The number of Americans who stepped out or stepped onto their mobile devices for shopping this holiday season – from Thanksgiving Day to Cyber Monday, topped the estimates by the National Retail Federation (NRF) and Prosper Insights and Analytics.
Data shows that over 174 million Americans were engaged in shopped – either in stores or online, during the holiday period and which beat the estimate of 164 million shoppers made after the earlier survey.
The NRF report states that about 75% of the money spent during the period was for gifts when the average spending was $335.47. Older Millennials – aged between 25 to 34 years were the biggest spenders at $419.52.
“All the fundamentals were in place for consumers to take advantage of incredible deals and promotions retailers had to offer,” NRF President and CEO Matthew Shay said. “From good weather across the country to low unemployment and strong consumer confidence, the climate was right, literally and figuratively, for consumers to tackle their holiday shopping lists online and in stores.”
All of the channels of sales were made use of equally by consumers during the holiday week end which indicates that the investments that the retailers had made in technology had paid off. There were at least 64 million people who shopped both online as well as in the stores. There were more than 58 million Americans who only shopped online and more than 51 million who shopped only in stores. $82 more on the average compared to the online-only shopper, and $49 more on the average compared to the in-store only shopper was spent by the multichannel shopper.
77 million consumers cited Black Friday to be the most popular day for in-store shopping while Small Business Saturday was the preferred choice for 55 million consumers.
“This year, consumers 65 and older proved that online shopping isn’t just for Generation Z and Millennials,” Prosper Executive Vice President of Strategy Phil Rist said. “However, younger consumers (those under 34) are still savvy when it comes to online shopping and leveraged their smartphones the most to browse for the best deals from some of their favorite retailers.”
The survey has further showed that the shoppers are still in the mood to find great deals. Sale s have bene the primary driver for majority of the purchases made for 60 percent of those who spent, while 48 percent said that the deals this holiday season were better compared earlier this season.
The survey was conducted on 3,242 consumers and was run between November 25-26 and it carried a margin of error of plus or minus 1.7 percentage points.
(Adapted from Businesswire.com)