Thanksgiving Weekend and Cyber Monday Shopping Brings in Estimated $606 Million from NV Consumers

FOR IMMEDIATE RELEASE December 5, 2022

Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org

Shopping Over Thanksgiving Weekend and Cyber Monday Brings in Estimated $606 Million from Nevada Consumers Consumers Spent an Average of $229 on Gifts After the Thanksgiving meal wrapped up and everyone finished catching up with loved ones, consumers across Nevada flocked to stores and online retailers to find the best deals. In the Silver State, the Retail Association of Nevada (RAN) estimated that over 1.8 million people spent a total of $606.5 million on gifts, decorations and other merchandise over the Thanksgiving weekend and on Cyber Monday.

“Early sales are here to stay with more than half of consumers embracing the longer holiday shopping season this year,” said Bryan Wachter, Senior Vice President of RAN. “This has been a trend we have watched over several holiday seasons, and with high inflation and supply chain disruptions, consumers are taking advantage of these sales to help their dollars go further while ensuring they are able to get this year’s hot gifts.”

Nationwide, an estimated 196.7 million consumers shopped over the five-day shopping period, marking a 9.4 percent increase from 2021 and the highest number of shoppers in tracked history. Shoppers over the five days spent an average of $325.44, with $229.21 going toward gifts and holiday items, according to survey data from the National Retail Federation (NRF).

During the Thanksgiving weekend shopping period, an estimated 122.7 million U.S. consumers shopped in-store, up 17.0 percent from 2021, while 130.2 million consumers shopped online (+2.0 percent), according to NRF survey data. The busiest day of the shopping weekend for instore purchases came on Black Friday, when an estimated 72.9 million consumers hit the stores. Black Friday was also the most popular day for online shopping, with 87.2 million consumers making purchases that day from behind a screen. Cyber Monday came in second for online shoppers with an estimated 77.0 million consumers.

Consumer behavior has shifted over the years as shoppers are eager to start their holiday shopping earlier and earlier. In response, many retailers have begun offering holiday deals and discounts even before Thanksgiving weekend. In 2022, an estimated 56.0 percent of shoppers 1 of 2

had taken advantage of early holiday sales prior to Thanksgiving weekend. Among the early bargain hunters, 24.0 percent began shopping before November 16, while 36.0 percent shopped during the week leading up to Thanksgiving. Phil Rist, Executive Vice President of Strategy of Prosper Insights & Analytics, said that the average consumer is roughly 47.0 percent complete with their holiday shopping for 2022.

Top purchases over the Thanksgiving shopping weekend included apparel (purchased by 50 percent of consumers), toys (31 percent), gift cards (27 percent), books and video games (24 percent), food and candy (23 percent) and electronics (23 percent), according to the NRF. While brick-and-mortar retail outlets saw their fair share of shoppers over Thanksgiving weekend, many consumers conducted their shopping via the internet. According to an analysis

by Adobe Digital Insights, online sales in the U.S. reached $35.3 billion during Cyber Week (Thanksgiving Day through Cyber Monday), a 4.1 percent decrease from a year ago. That total included $9.1 billion on Black Friday and $11.3 billion on Cyber Monday, which was up 5.6 percent shy of last year. ###

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