It’s that time of the year when scores of people are expected to head to the stores after finishing their turkey or going online. After all, solid economic growth and a two-decade high consumer confidence on labor market strength are providing the wherewithal to consumers to spend more. Retailers are thus poised to see a substantial uptick in sales, which makes them solid bets for now.

Black Friday Sales Predictions

The National Retail Federation and Prosper Insights & Analytics (NRF) noted that this Black Friday, 116 million people are planning to shop. Thus, Black Friday will remain the busiest day during the Thanksgiving Day through Cyber Monday holiday period.

Consumers are, in fact, willing to spend more on Black Friday compared with other discount days such as Small Business Saturday or Cyber Monday, per BlackFriday.com. Shoppers will most likely spend $472 on Black Friday, way more than $57 on Cyber Monday. Such stupendous spending on Black Friday is also up almost $5 from last year. Having said that, last year marked the first time when Black Friday online shopping topped $5 billion. And this time around, it is predicted to go beyond $5.8 billion, showing an increase of more than 15%.

Adobe Analytics chipped in and said that sales on Black Friday are expected to grow this year, bringing in an estimated $5.9 billion. But, this sales growth doesn’t end with Black Friday. As a matter of fact, retailers are expected to witness nearly $721 billion in sales through the end of December, a significant jump of 4.8% over last year, according to the NRF. The projections, in fact, show an average annual increase of 3.9% over the past five years.

 (Source: National Retail Federation)

Retail Behemoths Offer Big Deals

Majority of shoppers are expected to make the most of the deals and promotions retailers will offer, while the rest said that the upcoming holiday season is traditionally the time to shop and they are pretty much willing to indulge.