Shopping, giving expected to rise Thanksgiving Weekend
Thanksgiving comes with much excitement, not only for the massive amounts of food being served, but for the sales that come thereafter.
According to the National Retail Federation, winter holiday shopping is expected to increase this year for a variety of reasons.
Consumers say they will spend an average of $1,007.24 during the holiday season this year, up 4.1 percent from the $967.13 they said they would spend last year, according to the latest NRF study.
“The holidays are just around the corner and consumers are ready to shop,” NRF President and CEO Matthew Shay said. “Confidence is near an all-time high, unemployment is the lowest we’ve seen in decades and take-home wages are up. All of that is reflected in consumers’ buying plans. Retailers expect strong demand this year and are prepared with a wide array of merchandise while offering strong deals and promotions during the busiest and most competitive shopping season of the year.”
Thanksgiving Weekend has become much bigger than the traditional Black Friday, which is when people line up for hours outside stores, some in the middle of the night, to get the best deals. Black Friday is not the only time you can find good deals though. Small Business Saturday, Cyber Monday, and Giving Tuesday are newer traditions that allow consumers to celebrate their local retailers, support their community, and find great holiday deals.
BestBlackFriday predicts that 180 million people will shop online or in-store during the 2018 Thanksgiving Weekend. If the predictions are true, that would be 6 million more people than last year.
What used to be known as the day to get up early and storm the doorways for the best deals is changing. Sure, the door buster sales are still there, but many retailers are offering some Black Friday Deals as early as a week in advance and a growing amount of Black Friday shopping is done online. Another growing phenomenon is for retailers to be open Thanksgiving Day, a change that either pleases or irks some shoppers.
A prediction by DEALERSCOPE says that e-commerce sales will more than likely go up by double-digits. They also say that in 2017, more than 50% of online transactions went through Amazon, and that number is expected to rise in 2018.
Small Business Saturday
Small Business Saturday was created in 2010 by American Express to recognize the importance that small business to brings to every community.
BigCommerce says that of all registered businesses in the United States, small businesses make up 99.7% of them.
If you are a small business owner in Northwest Arkansas, Tulsa, or Little Rock wanting to participate in Small Business Saturday, here are some tips. You can find great tips and resources on the American Express Small Business Saturday website.
Cyber Monday is where you can find all the best online deals for big and small retailers. Some stores will begin their deals on Black Friday or the day after, but you can usually find the best deals on Monday. This retail holiday has grown so much that it’s not uncommon for websites for even some of the biggest retailers to lag because of the high-volume traffic.
BestBlackFriday predicts that Cyber Monday sales will reach, if not exceed, $725 million dollars. This would be a 10.02 percent increase over last year’s sales. They also predict that Cyber Monday will be the most popular holiday of Thanksgiving weekend, with Black Friday in second. While other retail experts say Black Friday will still be king of the retail weekend, we predict this will soon not be the case.
After a weekend full of shopping, Giving Tuesday is a great way to give back to your community or local organizations. As a company, we are dedicated to helping our local communities and that’s why we think it’s vital to include Giving Tuesday in our predictions blog every year.
With $300 million already raised online in more 150 countries, GivingTuesday works to help charities, individuals, and organizations.
WholeWhale predicts that 2018 donations will exceed last years by 21%, equaling a total of $331 million.
Whether you volunteer at your local charity or donate to an organization, be sure to give back this Giving Tuesday!
All of us here at On Time Logistics wish you a happy and safe Thanksgiving weekend!