MEDIA ALERT: ICSC’s 2023 Post-Thanksgiving Weekend Survey Shows Resilient Consumer Spending As 195 Million Americans Shopped Over the Weekend

ICSC

ATTN: Retail/Real Estate/Business Editors and Reporters

WHO: ICSC

WHAT: Consumer shopping behavior data for Thanksgiving weekend

WHEN: The 2023 ICSC Post-Thanksgiving Weekend Survey encompasses two surveys conducted online on November 24, 2022, and November 27, 2023, with a demographically representative U.S. sample of 1,007 and 1,004, respectively.

QUOTE: “As consumers continue to hunt for the best deals and promotions, major shopping events like Black Friday and Cyber Monday remain important despite discounts extending throughout the holiday season. Our Post-Thanksgiving Weekend Survey revealed that consumers turned out to shop both in-store and online. While economic factors may be changing some consumer behaviors, shoppers are still spending and retailers can expect to benefit from a strong holiday season.”

- Tom McGee, President & CEO, ICSC

RESULTS:

• 75% of U.S. adults – or 195.6 million people – shopped over the five-day period beginning on Thanksgiving and ending Cyber Monday, in line with 78% in 2022.
• More than two-thirds (68%) of shoppers spent on gifts for others, while 43% spent on dining and 22% spent on entertainment and activities.
• For 70% of shoppers, the holiday weekend remained just as important for shopping as in the past, demonstrating its importance despite deals and promotions spreading throughout the holiday shopping season.
• More than half of consumers (56%) said they shopped just as much or more than in the past, an increase of 6 percentage points from 2022.
• Two-thirds of consumers say they still have a significant amount of holiday shopping to do, despite shopping over Thanksgiving weekend.
• About 66% of Thanksgiving weekend shoppers – or 118.8 million people – spent money at a brick-and-mortar store, consistent with 2022 and up 5 percentage points from 2021.
• Of those who shopped at a physical store, 41% said in-store shopping is generally their preferred way to shop and make purchases – up from 34% who said the same in 2022.
• Discount department stores remained the most popular destination for shoppers (50%), down from 61% in 2022. Dollar/variety stores (29%), apparel, footwear, and accessory retailers (26%), electronics stores (25%), and health and beauty (24%) saw a rise in popularity.

About ICSC

The member organization for industry advancement, ICSC promotes and elevates the marketplaces and spaces where people shop, dine, work, play and gather as foundational and vital ingredients of communities and economies. ICSC produces experiences that create connections and catalyze deals; aggressively advocates to shape public policy; develops high-impact marketing and public relations that influence opinion; provides an enduring platform for professional success; and creates forward-thinking content with actionable insights – all of which drive industry innovation and growth. For more information, please visit www.ICSC.com.

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