Tens of millions of Americans are expected to hit malls, local retailers and the Web this weekend to shop for friends, family, coworkers and themselves for the holidays.
According to the National Retail Federation’s 2011 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, shoppers will spend an average of $704.18 on holiday gifts and holiday merchandise.
And many of them will get started this weekend.
As many as 152 million people plan to shop this Black Friday weekend, according to the NRF. In the NRF survey, 74 million people say they will be shopping this weekend, and another 77 million are waiting to see if the sales are worth it.
“When it comes to retail growth this holiday season, slow and steady wins the race – and the same is true for shoppers, who are meticulously calculating the best ways to stretch their dollar,” said NRF President and CEO Matthew Shay in a release.
“Knowing their customers are more focused than ever on value, retailers will entice shoppers with promotions that go beyond discounts, whether they’re promoting free gifts with purchase, an extended warranty, or stellar customer service.”