FOR IMMEDIATE RELEASE November 30, 2023
Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org
Nevada Shoppers Contribute $609.0 Million Over Thanksgiving Weekend and Cyber Monday Record 200.4 million Americans Hit Stores in Nationwide Shopping Spree During Thanksgiving weekend and Cyber Monday, Nevada saw a surge in consumer activity, with an estimated $609.0 million spent by 1.9 million people on gifts, decorations and various merchandise, according to the Retail Association of Nevada (RAN). Across the nation, a record-breaking 200.4 million Americans engaged in Thanksgiving weekend shopping, a 1.9 percent increase from the previous year and the highest number of shoppers in recorded history. The number of shoppers exceeded the National Retail Federation's (NRF) initial estimate of 182.0 million shoppers by 10.1 percent. According to the NRF, shoppers over the five-day period that included Cyber Monday spent an average of $321.41, with $226.55 allocated toward gifts and holiday items. NRF survey data revealed that 121.4 million U.S. consumers opted for in-store shopping, a 1.1 percent decline from 2022. Conversely, online shopping activity climbed 3.1 percent to 134.2 million consumers. Black Friday was the peak day for in-store purchases with 76.2 million shoppers and for online shopping with 90.6 million consumers making virtual purchases. Cyber Monday was the second most-popular day for online shopping with 73.1 million consumers making purchases.
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Fifty-five percent of Thanksgiving weekend purchases were driven by sales and promotions, up from 52.0 percent in 2022, according to the NRF survey. Additionally, 31.0 percent of consumers noted that a limited-time sale or promotion influenced their purchase decisions, a rise from the previous year’s 29.0 percent. In response to heightened holiday demand, retailers strategically offered sales and promotions throughout the season, with 55.0 percent of consumers taking advantage of early holiday sales. Approximately 35.0 percent of shoppers engaged in pre-Thanksgiving shopping (Nov. 16-22). As of the Thanksgiving weekend, 85.0 percent of consumers had begun their holiday shopping, with 48.0 percent having completed approximately half of their shopping list. Top shopping destinations included online platforms (44.0 percent), grocery stores and supermarkets (42.0 percent), department stores (40.0 percent), clothing and accessories stores (36.0 percent) and electronics stores (29.0 percent). The most popular gifts purchased during the five-day period were clothing and accessories (bought by 49.0 percent of those surveyed), toys (31.0 percent), gift cards (25.0 percent), books, video games and other media (23.0 percent), and personal care or beauty items (23.0 percent). While brick-and-mortar retail outlets saw their fair share of shoppers over the 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 $38.1 billion during Cyber Week (Thanksgiving Day through Cyber Monday), an 8.0 percent increase from a year ago. This total comprised $9.8 billion on Black Friday, a 7.5 percent uptick from 2022, and a record-breaking $12.4 billion on Cyber Monday, up 9.7 percent from the previous year. RAN projected a 4.0 percent growth in consumer retail sales in Nevada during this year's holiday shopping season, which would equate to a record $6.4 billion. On the national level, holiday consumer spending was projected to increase between 3.0 percent and 4.0 percent, according to the NRF. The traditional holiday shopping season spans November and December.
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