A record 1.9 million Nevadans are projected to participate in post-Thanksgiving shopping this year, a 3.7 percent increase 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 is expected to peak on Black Friday and continue throughout the Thanksgiving weekend and into Cyber Monday.
“Consumers are once again proving they are the backbone of the U.S. economy this holiday season,” said Bryan Wachter, Senior Vice President of the Retail Association of Nevada. “With nearly 1.9 million Nevadans expected to shop over Thanksgiving weekend, it’s a clear reminder that consumer 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 Thanksgiving Day and Cyber 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 to be 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’s total of $955.6 billion.
Key motivators for consumers shopping over the Thanksgiving weekend include competitive discounts, which were cited by 57 percent of shoppers, followed by tradition at 28 percent. Younger consumers, particularly those aged 18-24, exhibit the highest intent to shop, with 89 percent planning to participate, according to Prosper Insights and Analytics.
