Shop ’til you drop | Record number of shoppers expected to hit stores, on-line retail sites
If you’re not too busy sleeping off a hefty Thanksgiving meal or catching the plethora of sports options this week, steals and deals are to be had at retailers both local and national.
Yes, the Black Friday shopping holiday, which seems to expand from just one day each year, is set for this Friday, with Small Business Saturday to follow.
According to the National Retail Federation, a record 183.4 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the NRF and Prosper Insights & Analytics annual survey. Officials said that figure is up from the previous record of 182 million in 2023, and more than 18 million dating back five years ago.
“Even though holiday shopping continues to pull forward, some of the busiest shopping days of the year are during the five-day Thanksgiving weekend,” said NRF Vice President of Industry and Consumer Insights Katherine Cullen in a release. “Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season.”
Officials said while consumers will distribute their shopping over various channels through the holiday weekend, Black Friday remains the most popular day to shop, with 72% (131.7 million) planning to head out to stores or shop online. About 65% of Black Friday shoppers expect to specifically shop in stores that day, officials said. Cyber Monday is the second most popular day, attracting 39% (72.3 million) of those planning to shop.
NRF data showed that the top reasons consumers plan to shop during this five-day period are because the deals are too good to pass up (57%), it is tradition (28%) and they like to start holiday shopping over Thanksgiving weekend (24%).
“Younger shoppers are most likely to take advantage of Thanksgiving weekend deals this year, with 89% of young adults between 18-24 planning to shop over the weekend,” Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist said in a release. “The social aspect of holiday shopping is also enticing to this age group, and they are most likely to shop because it’s a group activity that can be enjoyed with friends and family (20%).”
Of those who stated in the survey that they are currently planning to shop during the holiday weekend, 51% said they could be convinced to do so if items they want are on sale, if they are offered free shipping, or if friends or family members invite them, according to survey results.
In early November, NRF forecasted that holiday spending is expected to reach record levels during November and December, and will grow between 2.5% and 3.5%, totaling $979.5 billion to $989 billion.
The survey asked 8,135 adult consumers about their holiday shopping plans. It was conducted Nov. 1-7 and has a margin of error of plus or minus 1.1 percentage points.
As for which national retailers will have the best deals this holiday weekend, data according to WalletHub sees JC Penney, Macy’s, Belk, Kohl’s, and Walmart round out the top-five in terms of average percent discount.
‘Season of Small Business’
Readers of The Breeze may notice the paper is a thicker this week, as the community paper offered partners a special rate to run new or larger ads in the Black Friday edition, resulting in the paper being about 33% larger.
“A portion of the proceeds from the advertising promotion will be donated to a local food pantry,” Breeze Newspapers Publisher Ray Eckenrode said.
For the numerous locally-owned and operated businesses in Cape Coral, Black Friday and Small Business Saturday are great opportunities for residents to check out and support owners who live and play in the Cape.
Lots of small businesses in the South Cape will be among those participating in the holiday event, offering discounts and deals for the day or weekend.
South Cape Hospitality and Entertainment Association spokesperson Shannon Quinn said the organization hopes residents will get out to support their neighbors.
“Shopping small in Cape Coral during the holidays not only helps you find unique gift, but it strengthens the local economy,” Quinn said. “By supporting our neighbors, we keep the heart of our community thriving. Every purchase makes a big difference to a small business, from helping them create jobs to supporting local families. It’s also an investment in the character and charm of our city. When you shop local, you’re giving back in more ways than one.”
Nationally, the message from the Small Business Administration is one of encouragement to shop, dine, and entertain at local small businesses on Nov. 30.
Small Business Saturday is an annual event founded by American Express and celebrating its 15th anniversary in 2024. This year marks the kickoff of SBA’s second annual holiday campaign, the “Season of Small Business.”
“Small Business Saturday has become America’s call to action to support the backbone of our economy and heart of our communities — our small businesses,” said head of the SBA, Administrator Isabel Casillas Guzman, in a release. “America’s incredible entrepreneurs create jobs, drive innovation, and strengthen our communities, shaping the unique character of neighborhoods across America. This year, as we continue to enjoy an unprecedented Small Business Boom, I encourage everyone to ‘Gift Big and Shop Local’ by supporting local businesses and the millions of hardworking Americans behind them.”
SBA’s “Season of Small Business” will continue through December and “encourages consumers to support small businesses throughout the holiday season.”
SBA has supported Small Business Saturday since 2011 to help drive consumer spending at independently owned small businesses in the wake of the financial crisis. The day is dedicated to celebrating local businesses that create jobs, help boost the economy and enhance neighborhoods around the country. According to American Express, the projected total reported spending among U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday since its founding has reached an estimated $201 billion.