As Thanksgiving festivities wind down, the focus shifts to shopping, with Black Friday marking the start of the holiday shopping season.
However, the traditional rush of long lines and crowded stores is evolving, largely due to the rise of online shopping." due to the abundance of deals throughout the month.
Despite these changes, a record 183.4 million people are expected to shop online or in-store from Thanksgiving through Cyber Monday, according toBlack Friday remains the most popular shopping day, with 72% of shoppers planning to participate, and 65% intending to visit physical stores. “Even though holiday shopping continues to pull forward, some of the busiest shopping days of the year are during the five-day Thanksgiving weekend,” NRF Vice President of Industry and Consumer Insights Katherine Cullen said. “Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season.”driven significantly by online sales.
"It seems that holiday shoppers will be more frugal this year, as multiple years of high inflation and high interest rates have taken a considerable toll," said Ted Rossman, Bankrate senior analyst.Many are concerned about the financial strain of holiday shopping. The same Bankrate survey revealed that 28% of holiday shoppers feel stressed about the cost and say it will strain their budget.
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