Thanksgiving Shopping Frenzy: Boosted Sales, Enhanced Spending, Amplified Cash Flow

The National Retail Federation released a survey over the weekend showing that Thanksgiving weekend spending went up by 9.1% compared to the previous year, covering both in-store and online shopping. About 226 million people hit the stores during “Black Friday” weekend, which is an increase from the 212 million shoppers the year before. This shopping period includes Thursday, Friday, and Saturday, with Sunday’s sales still being estimated at the time of the survey.

According to Reuters, the average spending per person during this weekend rose to $398.62, up from last year’s $365.34. Overall, total spending increased to roughly $52.4 billion, compared to $44.5 billion last year.

The survey, conducted by the trade group, found that department stores were the top pick for shoppers, with half of them visiting at least one during the weekend. Other shoppers browsed discount retail stores and had some fun at electronics stores.

As per the research company comScore, even before Cyber Monday, online retailers were enjoying strong sales on Sunday. Online shopping surged by 26% during this year’s Black Friday, defying some analysts’ predictions that longer in-store hours would dampen online sales.

So, what’s on the agenda? Get ready for Cyber Monday!