Spending down some for holiday weekend; small businesses do well
According to the National Retail Federation, there were more people than ever before shopping from Thursday-Sunday – about 2 million more this year, to 141 million – yet overall spending was down.
The NFR said shopping totaled $57.4 billion during the four-day holiday, or about $407.02 per person, down from $423.35 a year ago.
In another report, it was a successful Small Business Saturday.
According to the 2013 Small Business Saturday Consumer Insights Survey, released today by the National Federation of Independent Business and American Express, consumer awareness of Small Business Saturday across the U.S. jumped to 71 percent from 67 percent during the same period a year ago. Of those aware, 46 percent said they shopped on Small Business Saturday.
With awareness up, the end result was increased spending at small businesses. This year, consumers who were aware of Small Business Saturday reported spending $5.7 billion with independent merchants on the day, an increase of 3.6 percent from a strong $5.5 billion in 2012.
As for the NRF’s report about the weekend shopping:
More than 141 million unique shoppers have already or will have shopped by the end of the big Thanksgiving weekend, up from 139 million over the same time frame last year. For those who shopped multiple times over the weekend, the survey found more than 248 million waited in line, took advantage of big discounts offered throughout the mall and shopped on retailers websites, up from 247 million shoppers last year.
According to a National Retail Federation survey conducted by Prosper Insights & Analytics over the weekend, traffic on Thanksgiving Day itself grew 27 percent as nearly 45 million shoppers, or 31.8 percent of holiday shoppers, took advantage of special “turkey day” savings offers, up from 35 million in 2012. Black Friday was the biggest day: more than 92 million people shopped (65.2 percent) for apparel, electronics and more, up from nearly 89 million last year.
The NRF did say that the results don’t necessarily mean sales will be down overall for the entire two-month holiday season. It still forecasts a 3.9 percent increase overall compared to 2012.