10% increase in planned vacation spending for Nevada

Photo: Adobe Stock


The Retail Association of Nevada (RAN) estimates that more than 1.7 million people spent a total of $ 516.3 million on gifts, decorations and other merchandise during the five-day period to kick off the shopping season Holiday 2021.

Looking ahead, RAN predicts that consumer retail sales in Nevada will increase 10% during the holiday shopping season this year to a record $ 5.5 billion.


“Consumers were plentiful over Thanksgiving weekend, but unlike in the past, Black Friday is no longer the unofficial start of the holiday season; Thanksgiving weekend now feels more like halftime than kickoff, with consumers starting shopping weeks and months in advance to find the best deals, ”said Bryan Wachter, vice-president. RAN’s senior chairman, in a December 2 press release. “Retailers may have left stores dark this year for Thanksgiving, but with the pandemic-related investments in e-commerce, consumers have more options than ever before when it comes to holiday shopping. “


In Nevada, non-store retail sales, which include online retailers, are reaching all-time highs. In the 12 months to September 2021, non-store retail sales totaled nearly $ 5.3 billion, a 28.9% year-over-year increase, according to the December 2 press release.


RAN estimates that total non-store retail sales this holiday season could exceed $ 1.1 billion.


“The predicted spike in holiday shopping would continue the months-long trend of higher retail sales, which was aided in part by rising personal income from pandemic-related federal stimulus programs, savings rates higher wages and rising wages in a tight labor market. According to the December 2 press release, which notes that consumer spending figures exclude auto sales, restaurants and gasoline.


Meanwhile, nationwide, around 179.8 million consumers shopped over Thanksgiving weekend and Cyber ​​Monday, a 3.5% drop from 2020 as nearly half of consumers took advantage of the holiday sales before the weekend, according to the National Retail Federation. .


Shoppers over the five days spent an average of $ 301.27, including more than $ 215 on gifts and holiday items, according to NRF survey data.


In the United States, consumer spending for the 2021 holiday season is expected to increase between 8.5% and 10.5%.

Comments are closed.