According to a National Retail Federation (NRF) survey conducted by Prosper Insights & Analytics over the weekend, more than 131 million (54.8%) shoppers plan to go online today, “Cyber Monday,” up from the 129 million who participated last year.
“Despite record-breaking online shopping Thanksgiving Day and Black Friday, holiday shoppers aren’t done yet; we expect Cyber Monday to be bigger than ever,” said NRF President/CEO Matthew Shay.
When asked how they plan to shop on Cyber Monday, 24.8 million (18.9%) said they will use their mobile device, a 22% increase from the 20.4 million last year and a drastic leap from only 3.7 million in 2009. Mobile retailing continues to grow every year as consumers increasingly rely on their smartphones and tablets to research and purchase products. And, retailers are eager to meet consumer demand from these savvy customers as more than half (54.7%) of retailers surveyed in Shop.org’s November eHoliday survey said they invested in optimizing their mobile websites prior to the holiday season.
Some Shoppers Wait for Cyber Monday
According to NRF’s Thanksgiving weekend survey results, 42.1% of shoppers indicated they shopped online at some point over the weekend, and according to Shop.org’s eHoliday survey, Thanksgiving weekend shoppers had numerous online deals to choose from. But recently-released data indicates retailers may have saved the best online deals for last: Shop.org’s eHoliday survey found that eight in 10 (81.4%) online retailers will offer specific Cyber Monday deals.
“An extremely promotional Thanksgiving weekend got consumers excited about the holiday shopping season and on the lookout for more great deals and prices,” said Prosper’s Consumer Insights Director Pam Goodfellow. “Shoppers are still checking off their gift lists and millions will use Cyber Monday to hunt for remaining items while staying in line with their budgets.”
While the traffic in store may have been up over the weekend, consumers also spent more time online, too. According to the survey, four in 10 (42.1%) indicated they shopped online over the weekend, or approximately 59 million shoppers.
Of those, the average person spent $177.67 online over the weekend, or approximately 43.7 of their total weekend spending, up from 40.7% last year. NRF also asked shoppers which days they shopped online–more than one-quarter (26.5%) of holiday shoppers said they shopped online on Thanksgiving Day, and nearly half (47.1%) shopped online on Black Friday. Additionally, 35.7% shopped online on Saturday and 24.5% have shopped or will shop online on Sunday.
Those who shopped bricks-and-mortar locations tended to do so even earlier this year.
One-quarter (25.4%) of holiday shoppers say they were at stores by 8 p.m. on Thanksgiving night; nearly four in 10 (37.3%) were at stores by midnight, up from 28% percent last year. Early hours aren’t for everyone however—more than one-third (35.8%) didn’t arrive at stores until 10 a.m. or later.
Millennials Love Black Friday
Thanksgiving weekend deals are especially enticing to young people. More than three-quarters (76.2%) of 18 to 34 year olds shopped or planned to shop over the holiday weekend–higher than any other age group–with Black Friday being the most popular day (70.9%).
Bestselling merchandise over the weekend included apparel, electronics, and books, DVDs and video games. Nearly six in 10 (57.5%) bought clothing and clothing accessories, 37.7% bought electronics, 34.5% bought toys, and 36.1% bought books, CDs, DVDs and video games. Additionally, 29.6% bought gift cards and 16.9% purchased jewelry items.
More than 76 million (54.2%) shoppers visited their favorite department store over the weekend, and nearly 55 million (38.9%) visited discount stores. Additionally, 32.2% (45 million) shopped at electronics stores and 28.7%, or 40 million, went to clothing or accessories stores for gifts.
Additionally, slightly fewer people (76.4% vs. 79.6%) this year said they took advantage of retailers’ online and in-store promotions to buy non-gift items.
According to the survey, almost half (49.2%) of holiday shoppers over the weekend sought out information about promotions and sales via advertising circulars, and one-third (33.0%) conducted online searches to find the best deals. Additionally, 36.8% made sure to keep track of emails from retailers, 16.4% reviewed retail companies’ Facebook accounts for information, and 12.2% browsed stores to find bargains and sales.
About the Survey
The survey, conducted November 29 to 30 by Prosper Insights & Analytics for NRF, polled 4,464 consumers and has a margin of error of plus or minus 1.5%. www.nrf.com.