Black Friday sales raked in a record $8.9 billion and Cyber Monday sales are estimated to reach $11.2 billion, according to estimates.
Overall holiday sales rose rose 2.5% to $210 billion in 2022, according to Adoby Analytics, with top sellers including Xbox Series X, Bluey toys and games such as Call of Duty: Modern Warfare II. Drones and Apple MacBooks were other popular items. Inflation accounts for some of the increase this year, with people paying more to buy less.
An estimated 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. This figure is almost 8 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.
“While there is much speculation about inflation’s impact on consumer behavior, our data tells us that this Thanksgiving holiday weekend will see robust store traffic with a record number of shoppers taking advantage of value pricing,” said NRF President and CEO Matthew Shay. “We are optimistic that retail sales will remain strong in the weeks ahead, and retailers are ready to meet consumers however they want to shop with great products at prices they want to pay.”