In a spectacular shopping extravaganza, Super Saturday lived up to its name in 2023 as an estimated 142 million eager shoppers flooded stores and online platforms to complete their last-minute holiday shopping. Falling just one day before Christmas Eve, this year’s Super Saturday witnessed a significant surge in consumer activity, surpassing previous records and highlighting the resilience of American consumers in the face of economic uncertainties.
Unprecedented Shopping Spree
According to research firm Sensormatic Solutions, December 23, 2023, emerged as the busiest shopping day of the year, following closely on the heels of the renowned shopping event, Black Friday. The National Retail Federation (NRF) and Prosper Insights & Analytics projected an astounding 142 million shoppers, a substantial increase from the 126 million consumers in 2017, the last time Super Saturday fell on December 23.
The Perfect Timing
This year’s Super Saturday possessed a unique advantage, with Christmas Eve falling on a Sunday, granting Americans an entire weekend to complete their holiday shopping. Phil Rist, the executive vice president of strategy at Prosper Insights & Analytics, emphasized the alignment of Super Saturday with the preferences of last-minute shoppers, contributing to the unprecedented surge in shopping activity.
In-Store Shopping Dominates
Despite the convenience and popularity of online shopping, in-store purchases took precedence during this festive shopping frenzy. The NRF reported that approximately 53 million shoppers, accounting for 37% of those surveyed, expressed a preference for in-store shopping. This increase in in-store shopping may be attributed to concerns over potential delays in online deliveries, ensuring that gifts would arrive on time for Christmas.
Resilient Consumer Behavior
Amid a slight slowdown in consumer spending, as evidenced by the revised third-quarter US GDP growth rate of 4.9%, the NRF survey indicated the resilience of American consumers. The NRF had previously forecasted record-breaking holiday spending levels, with an estimated growth rate of 3% to 4% compared to 2022, amounting to a staggering $967 billion. This robust consumer activity demonstrates the unwavering enthusiasm of consumers, whose spending is crucial for the economy’s growth.
Extended Shopping Season
The NRF survey also shed light on the post-Christmas shopping plans of consumers, indicating that 70% of respondents planned to continue shopping in the week following Christmas. The allure of holiday sales and promotions enticed consumers to take advantage of the extended shopping season, further boosting the economy and providing retailers with a much-needed boost.
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