$hopping by the millions! Thankgiving holiday a big boon to retailers

Millions go shopping
Photo credit Getty Images - Jovanmandic

The National Retail Federation expects over 35-million consumers to shop online and in-stores on turkey day, up 3.5 million from last year. NRF spokesperson Katherine Cullen says over the course of the five-day weekend, which includes Cyber Monday, 165-million Americans will shop.

“Starting Thanksgiving day and continuing all the way through Cyber Monday," said Cullen.  "This is in-line with what we have seen the last couple of years and actually a few more people are planning to turn out."  

Cullen says younger consumers are more likely to use the weekend to shop compared to older generations. Almost 9 percent of those under the age of 25 say they plan to shop, adding there is more to it than just enticing bargains.

"These younger consumers really like these social activities," Cullen says. "It's something to do with family and friends that they may not see all the time. Something to get out of the house and go do together with others."

Cullen says the preference for online shopping and brick and mortar stores is split, but just slightly more than half are setting foot in a store first.

"You have people who love to shop online. They like the convenience. But they also really like the in-store experience and doing something with (their) family.”