Nevadans spent $531 mil during Thanksgiving, Cyber Monday
In Nevada, an estimated 1.6 million people spent a total of $531.5 million on gifts, decorations, and other merchandise over the Thanksgiving holiday and Cyber Monday, according to a report by the Retail Association of Nevada.
During the Thanksgiving shopping period, Nevadans took advantage of the competitive retail environment to find deals at both traditional brick-and-mortar and online retailers. An estimated 586,100 people used both methods to shop, while 467,100 shopped only in-store and 531,200 shopped only online. Shoppers who used both in-store and online channels spent $82 more than the average online-only shopper and $49 more than the average in-store shopper, according to the NRF.
RAN forecasts holiday retail sales in Nevada to grow by 4 percent this year and top $4 billion. The holiday shopping season spans November and December, and consumer spending figures exclude auto sales, restaurants and gasoline
Nevada’s nonstore retail sales, which include online retailers, are at record highs. In the 12 months through August, nonstore retail sales totaled more than $1.2 billion, a 21.6 percent year-over-year increase. Based on recent trends, RAN estimates that total nonstore retail sales this holiday season could approach $300 million, surpassing last year’s total of $269.9 million.
Tomi Jo Lynch: ‘Focus on the positive and the possible’ when it comes to COVID and commercial real estate
“The more that people can focus on the positive and the possible, the quicker our economy will come back and we can climb out of this,” Tomi Jo Lynch of SVN Gold Dust Commercial Associates in Reno said in an interview with the NNBW.