NEW YORK--(BUSINESS WIRE)--Today, the International Council of Shopping Centers (ICSC) released its Thanksgiving Weekend Shopping Report revealing that consumers visited and spent at local shopping attractions over the holiday weekend. Throughout the weekend, more than 145 million adults spent time at malls and shopping centers and estimated spending, on average, $377.50. And holiday gifts weren’t the only thing on consumers’ minds, food/dining and entertainment also benefitted from the visits ($78.70 per adult).
“Thanksgiving Weekend is a great indicator for what will be a holiday season full of spending, as we are seeing a very positive consumer sentiment and willingness to spend,” said Tom McGee, President and CEO of ICSC. “Shopping centers across the country should feel very optimistic about the season ahead. While the shopping season is longer this year, it’s not coming at the expense of the most popular shopping day of the year.”
Consumers planned to make the most of their trips this holiday weekend with 63 percent making a purchase and shoppers visiting an average of six stores, compared to four last year. Many holiday shoppers took advantage of omnichannel with 25 percent making a purchase online Thanksgiving and/or Black Friday with plans to pick the item(s) up in-store.
Experience the Holidays
Shoppers showed that the mall is more than a place to purchase gifts. This Thanksgiving weekend, shoppers looked to spread their money in the following ways:
- $179.30 on holiday gifts
- $102.00 on non-gift related items
- $96.20 on dining and other experiences
“As malls and shopping centers evolve, the ways in which the consumer experiences shopping continues to change as well,” continued McGee. “What we are seeing over the course of the year, and more so during the holiday season, is consumers’ desire to take advantage of everything a mall has to offer whether that is dining, shopping or entertainment.”
A Very Happy Holidays is Expected
With the holiday shopping season underway, consumers showed they are just getting started. When asked their December expectations:
- 60% anticipate similar deals/promotions
- 28% percent of consumers say they think the deals/promotions in December will be better than what was found over the past weekend
- 12% percent expect the deals/promotions won’t be as good
The ICSC Black Friday Report was conducted online by Opinion Research Corporation on behalf of ICSC from November 16-19 and on November 25, 2017. The survey represents a demographically representative U.S. sample of 1,030 and 1,016 adults 18 years of age and older, respectively for the dates fielded.
ICSC serves the global retail real estate industry. We provide our 70,000+ member network in over 100 countries with invaluable resources, connections and industry insights, and actively work together to shape public policy. For more information about ICSC visit www.icsc.org.