FOR IMMEDIATE RELEASE
November 21, 2024
Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org
1.9 Million Nevadans Expected to Shop
Over Thanksgiving Weekend
Record-High Consumer Activity Projected
A record 1.9million Nevadans are projected to participate in post-Thanksgiving shopping this year, a 3.7percentincrease from last year, according to the Retail Association of Nevada (RAN). While 58 percent of consumers have already taken advantage of early holiday promotions,completing an average of 25 percent of their planned purchases, shopping activity isexpected to peak on Black Friday and continue throughout the Thanksgivingweekend and into Cyber Monday.
"Consumersare onceagain proving they are the backbone of the U.S. economy this holiday season," saidBryanWachter, Senior Vice President of the Retail Association of Nevada. "With nearly 1.9 millionNevadans expected to shop over Thanksgiving weekend, it’s a clear reminder thatconsumer spending drives our economy forward."
RAN’s projections, based on survey data from the National Retail Federation (NRF), align with national trends,with over 183 million Americans planning to shop between ThanksgivingDay andCyber Monday. Black Friday is anticipated to remain the most popular shopping day, with 72 percent of respondents intending to shop. Additionally,over two-thirds of Black Friday shoppers plan to visit brick-and-mortar stores. Cyber Monday is expected tobe the second most-active day, with 39 percent of consumers planning online purchases. Overall,nationwide holiday spending is forecasted to reach record spending levels, ranging from $979.5 to $989 billion. This is set to mark an increase of 2.5 to 3.5 percent from last year’stotal of $955.6 billion.
Key motivatorsfor consumers shopping over the Thanksgivingweekend includecompetitive discounts, whichwere cited by 57 percent of shoppers, followed bytraditionat28 percent. Younger consumers,particularly those aged 18-24, exhibit the highest intenttoshop,with 89 percent planningto participate, according to Prosper Insightsand Analytics.