X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON DC-Sales last weekend, also called Black Friday weekend, totaled $28 billion, up 21.9% from last year, according to a survey by the National Retail Federation. The big push during the period, widely considered one of the biggest holiday shopping stretches of the year, was due to deep discounts offered by retailers as well as favorable weather.

About 145 million consumers hit the stores or logged onto the Internet to shop, up from 133 million last year, according to the survey. Friday’s 60 million shoppers were a 7.9% increase from last year, and the 52.8 million consumers out on Saturday made for a 13.3% jump.

“By offering incredible discounts, retailers were able to bring consumers to the stores who otherwise would have stayed in bed,” says Phil Rist, vice president of strategy for BIGresearch, the firm that conducted the survey for the NRF. “The deals were so enticing that many consumers abandoned their shopping lists and started buying for themselves.”

Most consumers, 60.7%, hit discount stores to do their shopping. Grabbing a 47% draw were department stores, and specialty chains grabbed 41.2% of the shoppers surveyed. The average person spent $302.81, says the survey, which polled 4,209 shoppers.

Clothing and accessories were the most popular items, attracting 49.2% of the dollars spent; books, CDs, DVDs, videos and video games caught a 46.7% share; and 36.7% went to electronics.

The NRF’s on-line division expects 58.9 million people to shop for holiday items on the Internet today. About 27.4% of all consumers say they will do at least some of their shopping from a computer, the survey says.

The NRF predicts that spending this holiday season will jump 6% from last year’s. However, another trade organization, the International Council of Shopping Centers, has forecast a 3% to 3.5% increase.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.