News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Omnichannel Consumers Spent Most during Holiday Kickoff

Omnichannel Consumers Spent Most during Holiday Kickoff

U.S. consumers continued to exceed predictions for a robust first weekend of the holiday season, and omnichannel shoppers were the most valuable to retailers, according to the National Retail Federation (NRF). Of 174 million Americans who made purchases Thanksgiving Day through Cyber Monday, the NRF found, 64 million shopped both online and in stores and 58 million went completely digital. Less than 30 percent (51 million) clung solely to a traditional shopping experience in physical stores.

From the perspective of average spend, the omnichannel shoppers were most valuable to retailers last weekend. They averaged $82 more per person than online-only shoppers and $49 more than those who only went to stores.

Cyber Monday, not surprisingly, was the most popular single day of the long weekend for online shoppers—81 million made a digital purchase that day. Black Friday was next with 66 million consumers making online purchases. Online shopping made inroads with older consumers, according to Phil Rist, executive vice president of strategy for Prosper, the analytics company that conducted the research for the NRF.

“This year, consumers 65 and older proved that online shopping isn’t just for Generation Z and Millennials,” Rist said. “However, younger consumers (those under 34) are still savvy when it comes to online shopping and leveraged their smartphones the most to browse for the best deals from some of their favorite retailers.”

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