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Business, Retail

Record Consumer Turnout for Thanksgiving Holiday Weekend

A record 200.4 million consumers shopped from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million.

11/28/2023
WASHINGTON, D.C. – Earlier today, the National Retail Federation held a media call to release the 2023 shopping results of the five-day Thanksgiving holiday weekend. A record 200.4 million consumers shopped from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million.

Following the call, NRF President and CEO Matthew Shay joined CNBC “Squawk on the Street” co-anchor Sara Eisen and Senior Markets Commentator Mike Santoli to discuss the results and the health of the holiday consumer.

Thanksgiving Weekend Results:

Shay: “It was bigger than we expected but reflects the resilience of consumers and they're still out there. They're shopping, they're engaged in commerce. They were out there in a very big way this past weekend. The numbers are reflective of the strength in the consumer economy and consistent with our forecast of 3% to 4% growth this holiday season.”

Holiday Consumer Outlook:

Shay: “It's a long holiday season. We now have some of the largest shopping days behind us, but additional significant shopping days remain in the weekends leading up to the end of the year. There's a lot of room to run if consumers remain this resilient, providing what we expect to be a good holiday season.”

In-store vs. Online Shopping:

Shay: “The important thing to remember in the era of truly blended commerce is it's getting much more difficult to distinguish between purely in-store and purely online experiences. It speaks more to the convergence of retail that we've seen taking place across all channels.”

For more information about the 2023 winter holiday season, visit NRF’s Winter Holiday FAQ web page and Holiday 2023 by the numbers SlideShare.

As the leading authority and voice for the retail industry, NRF provides data on consumer behavior and spending for key periods such as holidays throughout the year.

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