Retailers are preparing for crowds of shoppers as the holidays approach, with retail sales expected to grow between 3.8% and 4.2% this year to between $727.9 billion and $730.7 billion, according to the National Retail Federation. For many, it’s not the holidays until they shop for bargains on Black Friday and Cyber Monday — some will even take advantage of the retailers that will be open on Thanksgiving Day.
Last holiday season sales climbed 2.1%, according to the NRF. While Cyber Monday beats out Black Friday for the day with the most online sales, according to Deloitte, ShopperTrak found that Black Friday is expected to remain the busiest shopping day of the year in the U.S.
Younger generations will likely fill up the aisles during these busy shopping days, said Marshal Cohen, chief industry advisor of The NPD Group, because they can “withstand the crowds” and “love to be a part of the action.” About one-third of Generation Z shoppers (up to 22 years old) and 20% of millennials plan to start shopping on Black Friday, whether it be online or in stores, according to a recent NPD report.
While online spending this holiday season is expected to hit a record $143.7 billion, according to a study by Adobe Analytics — a 14.1% rise from a year ago — and retail forecasts have been clouded by the U.S.-China trade war and the threat of another economic slowdown, retailers such as Best Buy are still preparing for flocks of shoppers to their store as they hire thousands of workers for the season. Many of the retailers have already told shoppers what to expect, like a Vizio 70″ Smart TV for $600 at Costco and a Chromebook for $99 at Walmart.