Thanksgiving Weekend Spending to Surge to $130B
As Thanksgiving approaches, consumer spending is predicted to hit a new high, with a projected $130 billion splurge during the holiday weekend. Despite economic headwinds, the festive spirit seems unshaken, promising a robust season for retailers.
Spend Forecast: Consumers are set to spend $130B over the Thanksgiving weekend, a 4% increase from the previous year.
Shopping Resilience: 90% of consumers will hit the stores or online, utilizing promotions and price research to combat inflation pressures.
Digital Influence: Nearly half of the shoppers are looking to social media and apps to snag top deals, indicating a shift in discount discovery methods.
Payment Preferences: Debit cards remain the favorite, with 65% of shoppers opting for them over credit cards and cash.
Convenience Counts: 60% of consumers are prioritizing shopping convenience to avoid shipping delays, with many choosing to pick up online purchases in-store.
This anticipated surge in consumer spending and the emphasis on in-store experiences underscore GDL Capital's confidence in retail centers as a prime investment focus. The blend of traditional shopping with digital conveniences mirrors our investment philosophy, where the tangible allure of physical retail spaces meets the evolving consumer demand for accessibility and efficiency. This Thanksgiving forecast isn't just a seasonal trend; it's a testament to the enduring appeal of retail centers in a rapidly changing economic landscape.
*Read more in ICSC's article titled Consumer Spending Expected to Reach $130B on Thanksgiving Weekend 2023 written by Stephanie Cegielski on November 15, 2023.
