The National Retail Federation says 202.9 million consumers shopped during the five-day stretch from Thanksgiving on Nov. 27 through Cyber Monday on Dec. 1, a record turnout.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
The total number of shoppers this Thanksgiving surpassed the Retail Federation’s forecast of 186.9 million people. It also increased from the 2024 turnout of 197 million shoppers. This year’s turnout was the largest since the National Retail Federation began tracking the five-day holiday total in 2017.
The number of shoppers this year also eclipsed the previous high of 200.4 million shoppers during U.S. Thanksgiving in 2023. The trade group does not estimate the total amount spent during the Thanksgiving weekend. However, Adobe (ADBE) pegged the online shopping total this year at $44.2 billion.
Good News for Retailers
The strong showing over Thanksgiving bodes well for the year-end holiday shopping season that runs through the end of December, and is good news for leading retailers such as Best Buy (BBY), Abercrombie & Fitch (ANF), and Walmart (WMT).
The results are somewhat surprising coming as they do amid signs that the U.S. economy is slowing and the labor market is weakening. Retailers, economists, and analysts are closely watching spending during year-end holidays for clues to the health of consumers and the outlook for U.S. households.
Is WMT Stock a Buy?
The stock of Walmart has a consensus Strong Buy rating among 26 Wall Street analysts. That rating is based on 26 Buy recommendations issued in the last three months. The average WMT price target of $121.92 implies 9.60% upside from current levels.
