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Thanksgiving weekend and Black Friday are a big deal for the economy and the stock market. Here's some key trends to follow:
More Shoppers Than Ever
Thanksgiving weekend keeps pulling in more and more shoppers. In 2023, 200.4 million people shopped in stores or online, breaking the record set in 2022 (196.7 million). Just five years ago, that number was only 165.8 million.
Holiday Spending Keeps Growing
Not only are more people shopping, but they’re also spending more. In 2024, the average person is expected to spend $902, which is up from $875 in 2023. In 2016, people spent around $796.
This is good news for retailers since it shows shoppers are still willing to spend—even with stubborn inflation.
Online Shopping Takes Over
Shopping habits are shifting, and online is winning. In 2024, 71% of shoppers plan to shop online, while 55% will visit big-box stores. Department stores? Only 31% of shoppers are planning to stop by.
This shows just how important e-commerce has become. Companies like Amazon are set to do well, while traditional stores are under pressure to offer more than just deals to get people through the door.
What This Means for Stocks
Black Friday sales don’t just affect retailers—they move the stock market too. Stocks for companies like Amazon and Walmart, as well as retail-focused funds like SPDR S&P Retail ETF (XRT), often go up during Thanksgiving weekend if sales are strong. But if sales fall short, stocks can fall.
For the stock market, Black Friday is a sign of what’s coming. Big sales mean strong demand and good news for retailers. Weak numbers could mean people are holding back and spending less overall.
Key Takeaways
- Thanksgiving hit 200.4 million shoppers in 2023, breaking records from previous years.
- Shoppers will spend an average of $902 in 2024, up 3% from last year.
- 71% of shoppers plan to buy online, making e-commerce the top choice.
- Retail stocks tend to rise if sales are strong, but weak numbers can hurt them