More than 1.7 million Nevadans expected to shop over Thanksgiving weekend
Submitted by Jeff Munson on Fri, 11/25/2022 - 9:01am
After the traditional turkey day meal, Nevada consumers will kick off their Thanksgiving weekend by heading to local retailers in search of savings and this season’s most popular gifts. The long shopping weekend begins on Thanksgiving Day and is followed by a fury of shopping on Black Friday.
The weekend continues with Small Business Saturday and culminates with a day of online shopping on Cyber Monday. The Retail Association of Nevada (RAN) estimates that 1.7 million Nevadans are planning to shop over the four-day Thanksgiving weekend and Cyber Monday, a time when retailers offer big markdowns for bargain-hunting consumers. RAN forecasts Nevada's consumer retail sales for the holiday shopping season to grow by 8 percent this year to reach a record $6.5 billion.
RAN’s projections are based on nationwide survey data from the National Retail Federation (NRF), which estimates that over 166 million Americans are planning or considering to shop between Thanksgiving Day and Cyber Monday. Black Friday, as usual, is expected be the busiest day of the shopping weekend, with 69.0 percent of survey respondents planning to shop.
Some will even camp out overnight or wake up bright and early in order to secure doorbuster deals. Cyber Monday will be the second-busiest day of the extended shopping weekend, with 38.0 percent of shoppers planning to participate. The share of shoppers who would hit the stores on Thanksgiving Day, Small Business Saturday and the following Sunday were not released by the NRF.
Among consumers, 59.0 percent noted that the deals during the Thanksgiving weekend shopping event would be “too good to pass up” as their primary reason for shopping. Tradition was the second-most cited reason, with 27.0 percent of consumer responses, while 22.0 percent of respondents said “It’s something to do over the holiday weekend.”
Despite the rush of consumers that will hit the stores over Thanksgiving weekend, 60 percent of consumers have already started their shopping for the holiday season according to NRF. This became a popular trend in recent years and accelerated during the pandemic. Since 2011, the share of shoppers who have started their holiday shopping early increased 9 percentage points. Further, 18.0 percent of holiday shoppers have already completed at least half of their holiday shopping, up from 11.0 percent a decade ago.
RAN will be releasing their Thanksgiving weekend update next week.
