Thanksgiving Shopping Quickly Becoming Holiday Tradition for Millions of Americans
Even the post-turkey coma couldn’t keep a good shopper down as millions of people across the country lined the sidewalks late Thursday night and by midnight on Black Friday to stock up on discounted toys, laptops, tablets, apparel, and more.
“Like pumpkin pie and football, Thanksgiving Day shopping is quickly becoming a holiday tradition for millions of Americans,” said NRF President and CEO Matthew Shay. “Steady streams of shoppers have already flooded outlets, malls and other stores throughout the country and shopped online from the convenience of their couch to kick off the holiday season; it’s evident retailers’ promotions have really struck a chord with those looking for the perfect gift – either for themselves or for others.”
NRF estimates that holiday sales will increase 4.1 percent this year to $586 billion. NRF’s holiday sales forecast is based on an economic model using indicators like housing data, unemployment and previous monthly retail sales reports and includes retail industry sales from November and December. NRF will release the results of its Black Friday survey on Sunday, November 25th.
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation.