WATCH | It's that time of year again -- time to get your holiday shopping done. So, will you be braving the Black Friday lines? Retailers are betting on it.
59% of Americans plan to shop this weekend
For all the talk about e-commerce outshining brick-and-mortars, Black Friday remains one of the busiest days for shopping in America.
More than half of all American adults -- 59 percent, or 137.4 million -- are planning to shop during the Thanksgiving holiday weekend this year, according to data from the National Retail Federation (NRF).
That's a 1 percent increase from last year.
More than 50 percent of consumers have already started purchasing gifts.
A majority go shopping on Black Friday
"Black Friday this year is going to be very busy. We're seeing about 74% of consumers are going to go out and shop," Ana Serafin Smith, senior director of media relations for the NRF, told Circa.
Looking ahead to the rest of the weekend, a good amount of consumers will be out hunting for deals.
Some iconic retailers are reversing course and closing their doors on Thanksgiving Day.
Looking for those doorbuster deals
Some of those retailers include REI and Office Depot, as well as the Mall of America. But shoppers have their wallets out, ready to snag doorbuster deals -- including millennials.
Seventy-six percent of younger consumers have holiday shopping plans this weekend, with the majority partaking in some retail therapy on Black Friday.
Last year, shoppers spent, on average, $952 during the holiday season. This year's forecast is for $935.
Given the rosier economy and rising wages, a good chunk of this spending will be in the form of self-gifting. "This year, we're definitely going to see a big influx of that whole 'buy one for you, buy two for me' type shopping, " Serafin Smith said.
Per NRF's data, 21 percent of people plan to shop on Thanksgiving Day.
Spending is an American tradition
A full 47% plan to shop on Saturday, 24% on Sunday and 36% on Cyber Monday.
"Black Friday is part of the American tradition and going out and shopping with friends and family and enjoying some of the best deals and promotions that retailers have to offer is something you can only experience here in the [United States], Serafin Smith said.
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