Over 174 million Americans bought goods in stores or online from Thanksgiving to to Cyber Monday, according to the National Retail Federation. The organization reported that the average spending per person during that time period was $355.47, with three-quarters of that total ($250.78) spent on holiday gifts. Here are the five most popular types of gifts consumers purchased.
The popularity of clothing bodes well for apparel retailers, which have struggled with competition from fast fashion and e-commerce, as well as market saturation. Robust sales of toys are a bright sign for toymakers Hasbro and Mattel, but the fate of brick-and-mortar toy retailers remains murky after the bankruptcy of Toys R Us.
Yet elsewhere in physical retail, electronics specialist Best Buy remains relatively healthy as it matches Amazon's prices and expands its e-commerce capabilities. However, Gift Card Granny recently reported that Amazon gift cards are still the most popular in America -- just another indication of the online superstore's growing dominance.