NRF: Digital options stretch holiday shopping

The National Retail Federation reported on Nov. 30, 2021, that 2021 Black Friday sales exceeded expectations, with 179.8 million shoppers making in-store and online purchases over the holiday weekend. The NRF expects these increases to continue, based on early data culled from the association's October and November surveys, NRF analysts stated.

NRF President and CEO Matthew Shay acknowledged soft openings made it difficult for retail analysts to measure 2021 holiday spend, especially with Black Friday and Cyber Monday deals beginning as early as October and November and consumers shopping earlier in the season.

"Retailers have adapted and enticed customers with a number of incentives throughout November," Shay said." The Thanksgiving holiday weekend remains a significant time for friends and families to check specific holiday items off their lists."

Phil Rist, executive vice president of strategy at research firm Prosper, agreed, stating that despite its soft opening, Black Friday remains a powerhouse day for both in-store and online shopping. "Even though many consumers are starting their holiday shopping before Thanksgiving, a considerable portion of their purchases are still made over the course of the five-day weekend," he said.

Shopping by the numbers

Shay additionally noted that this year's Black Friday turnout of 179.8 million shoppers was 21 million higher than NRF analysts had predicted and was only slightly down from 186.4 million shoppers in 2020. In addition, he stated, the number of in-store shoppers increased this year to 104.9 million, compared to last year's 92.3 million; 82 percent felt the deals were the same or better than last year's offerings; and online shoppers totaled 127.8 million from 145.4 million in 2020.

With retail's peak shopping season shifting into high gear, the NRF and Prosper shared the following highlights:

• Small Business Saturday: Initiated by American Express in an effort to support small and midsize business owners, this holiday drew 51 million shoppers, as supporting local businesses remains a priority in the post-pandemic economy. Researchers found 71 percent of shoppers were specifically supporting local businesses during Small Business Saturday.

• Cyber Monday: Consistent with recent years, Black Friday outperformed Cyber Monday, drawing 88 million online shoppers on the Friday after Thanksgiving, compared to 77 million on Cyber Monday.

• Average holiday spend: Thanksgiving weekend shoppers spent an average of $301.27 on holiday-related purchases, including gifts, décor, apparel and toys. These numbers are slightly down from $311.75 in 2020. As in previous years, most ($215.40) of that amount was spent directly on gifts.

• Top gift categories: Leading merchandise categories over the holiday weekend included clothing and accessories (bought by 51 percent of those surveyed), toys (32 percent), gift cards/certificates (28 percent), books/music/movies/video games (27 percent) and electronics (24 percent).

Earlier start, prolonged finish

Shay emphasized that most consumers appreciate having more flexibility and options in a longer holiday shopping season, which seems to begin earlier and last longer each year. This year, 84 percent of holiday shoppers began shopping earlier than in previous years and 52 percent have checked off every item on their holiday shopping lists, he added.

Officially speaking, the holiday season begins November 1 and runs through December 31, NRF representatives stated. Researchers expect to see an 8.5 to 10.5 percent increase in holiday spend, totaling between $843.4 billion and $859 billion, based on early reports and survey data.

Additional NRF insights on the holiday season can be found at nrf.com/topics/holiday-and-seasonal-trends/winter-holidays .

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