Holiday travel during the Thanksgiving week that includes today, Monday, was predicted to be the busiest one on record according to the TSA and the Triple A and it looks like it was.
It also appears as if this last week, that also includes today, Cyber Monday, could turn out to be the busiest weeks for holiday shoppers.
According to the website RetailMeNot, consumers will spend 12.4 billion dollars today. That’s on top of what shoppers have already spent since Black Friday, which actually began days earlier and with shoppers buying on their phone while at the malls buying things in stories, many retailers for the last several years have referred to the period from Thanksgiving through Cyber Monday, Cyber Week.
The same website also says holiday shoppers are expected to break spending records in 2024, with the average person expected to spend a little over $1,000, up 14% from last year.
And while cyber shopping continues to grow, a company that tracks foot traffic in stores, shopping centers, superstores and other popular retailers were up for the month or so 3.4% compared to stats from before the pandemic in 2019.
It sounds like retailers’ bank accounts may turn out to more stuffed from this Thanksgiving and that’s good news for the economy.
(Photo Getty Images)
Photo: Bloomberg via Getty Images