More than 60 major U.S. retailers will keep their doors closed on Thanksgiving Day this year as analysts project a bump in holiday retail spending.
At least 65 chains — including Costco Wholesale Corp., Sam’s West Inc. and Nordstrom Inc. — have said they will be closed on Thanksgiving, though more are expected to close, according to the Black Friday deals site BestBlackFriday.
Retail chains have increasingly opted to keep the lights off on Thanksgiving in the face of falling brick-and-mortar sales on Gray Thursday, increased online sales and employers’ moves to give workers the holiday to spend time with their families. Last year, 59 retailers didn’t open their doors on Thanksgiving, according to BestBlackFriday.
But store closures don’t portend a lackluster holiday spending season. U.S. shoppers could spend up to $682 million on gifts and meal prep during the winter holidays, a 4 percent jump from the $655.8 million consumersspent last year, according to the National Retail Federation.
And, consumers are projected to spend an average of $743 during the Black Friday-Cyber Monday shopping weekend, up from $505 in 2016, a study by the Austin-based online couponing site RetailMeNot shows.
A good chunk of that spending could go online. Sales on Cyber Monday — when retailers offer steep discounts on online items à la Black Friday — hit a record $3.39 billion, surpassing online sales of $3.34 billion on Black Friday, according to Adobe Insights.