(MENAFN) A peak amount of Americans went shopping throughout Thanksgiving weekend, whereas the amount of online sales throughout Cyber Monday reached a record peak, in spite of US inflation soaring about its peak rate in 40 years.
An overall of 196.7 million customers shopped in stores and online throughout the five-day shopping spree from Thanksgiving Day up to the Cyber Monday, Nov. 24 - 28, as shown by a survey by National Retail Federation (NRF) and Prosper Insights & Analytics.
The amount is earnings of nearly 17 million shoppers from last year and it beat the organizations' estimate of 166.3 million made before Thanksgiving weekend.
"It is important to note that while some may claim that retail sales gains are the result of higher prices, they must acknowledge the historic growth in consumers who are shopping in-store and online during the long Thanksgiving holiday weekend and into Cyber Monday. It is consumer demand that is driving growth," NRF Leader and chief executive Matthew Shay stated in an announcement.
He continued: "As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible. Retailers have responded accordingly, offering shoppers a season of buying convenience, matching sales and promotions across online and in-store channels to accommodate their customers at each interaction."
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