From our friends at The NPD Group:
Thanksgiving/Black Friday shopping intentions became reality and proved fruitful at retail, while top performing categories indicate gifting rules are changing.
According to NPD’s 2018 Holiday Purchase Intentions Study, more consumers planned to start and finish their holiday shopping over the Thanksgiving holiday weekend (Thursday through Sunday) this year than last year. These shopping intentions appear to have translated into an increase in sales as well. NPD’s U.S. weekly point-of-sale results for key general merchandise categories* reveal that dollar sales over the third week of November 2018 (week ending 11/24/18), which included Thanksgiving and Black Friday, exceeded 2017 results by almost four percent.
Highlights from the week:
- Technology products drove overall dollar gains this week, and the categories behind this growth were tablets and stereo headphones.
- Small home appliances and athletic footwear each saw double-digit dollar growth compared to last year. Cookers and specialty cleaning appliances (i.e. robotic vacuums) were the biggest sources of small home appliance growth. In athletic footwear, boots and the sport lifestyle footwear segment drove this week’s gains.
- Prestige beauty picked up growth with promotional pricing, driven by face skincare products and eye makeup.
“Thanksgiving week showed much of what we expect for holiday but there are twists and turns ahead as it also showed retail can no longer depend on historical patterns,” said Marshal Cohen, NPD’s chief industry advisor. “Self-gifters and deal-hunters got what they wanted, but there is also a shift in gifting rules from romantic to practical.”
Top growth categories of the week: (Absolute Growth)
- Tablets & E-readers
- Home Environment Appliances
- Stereo Headphones
- Small Kitchen Appliances
- Sport Leisure Footwear
- Smart Entry Technology Products
- Outdoor Footwear
- Security & Monitoring Products
- Women’s Apparel
Interested in more holiday insights? Check NPD’s Holiday Insights page for the latest, and contact me if you would like to speak with Marshal Cohen, or any of our other industry advisors, for their perspective on the 2018 holiday season.
* Information is collected from a panel of leading retailers that provide weekly point-of-sale data covering in-store and online sales of Apparel, Toys, Technology, Athletic Footwear, Prestige Beauty (Fragrance, Makeup, Skincare), Small Home Appliances, and Office Supplies. Note: Shifts may occur from week to week in reporting results, due to retailer reporting updates.