ICSC:

ATTN: Retail/Real Estate/Business Editors and Reporters

WHO: ICSC

WHAT: Consumer shopping behavior data for Thanksgiving weekend

WHEN: The 2024 ICSC Post-Thanksgiving Weekend Survey encompasses two surveys conducted online on November 29, 2024, and December 2, 2024, with a demographically representative U.S. sample of 1,009 and 1,011, respectively.

QUOTE: “Thanksgiving weekend showed clear signs that consumers are maintaining strong spending habits, with shoppers driving significant in-store and online traffic over the 5-day period. Cooling inflation rates and the opportunity to snag the best deals influenced a strong shopper turnout, and retailers who successfully balanced deals with value and experience captured consumer attention during the most central shopping weekend of the year. Despite the condensed period between Thanksgiving and Christmas, our Post-Thanksgiving Weekend Survey found that a majority of consumers have a substantial amount of shopping left to do – signaling strong momentum for the remainder of the season and ample opportunities for retailers to build on the success of this past weekend with consumers.”

- Tom McGee, President & CEO, ICSC

RESULTS:

• 207 million people – about 79% of all U.S. adults – shopped during the 5-day period between Thanksgiving and Cyber Monday, slightly higher than 75% who shopped during the same period in 2023.
• Consistent with 2023, 69% of shoppers spent on gifts for others, while 46% spent on dining and 22% spent on entertainment and activities.
• 57% of Thanksgiving weekend shoppers said they shopped just as much or more than in the past, similar to 56% who said the same in 2023.
• 68% of shoppers said the weekend as a whole remains just as important specifically for holiday purchases as it once was, even as deals become more spread out throughout the season.
• Brick-and-mortar stores remain integral to the shopping journey, with 78% of consumers making purchases either in-store or online for in-store pickup. Among those collecting orders at physical locations, 70% seized the opportunity to make additional purchases.
• While price sensitivities remain, fewer consumers felt limited by higher prices; 53% said they cut back on buying non-holiday items to save money for gifts, down 5 percentage points from 2023.
• This weekend prompted 70% of respondents to take advantage of promotions to buy items they previously delayed purchasing because the price had been too high.
• Of the shoppers who purchased non-holiday items, 82% leveraged deals to stock up on essentials, compared to 58% who purchased non-essential items.
• Retailers will remain busy during the remainder of the holiday season, as 60% of respondents said they still have a significant number of purchases to make.
• Black Friday still accounts for the largest share of purchases (39%) made over the 5-day weekend, followed by Cyber Monday (19%).

About ICSC

ICSC is the preeminent membership organization serving the commercial real estate and retail industries. The organization promotes and elevates the marketplaces and spaces where people shop, dine, work, play and gather as foundational and vital ingredients of communities and economies. ICSC produces experiences that create connections and catalyze deals; aggressively advocates to shape public policy; develops high-impact marketing and public relations that influence opinion; provides an enduring platform for professional success; and creates forward-thinking content with actionable insights–all of which drive industry innovation and growth. For more information, please visit www.ICSC.com.

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