INDIANAPOLIS — Black Friday, Small Business Saturday, and Cyber Monday are all big shopping days.
The National Retail Federation found consumers spent $321.41 on average over the extended weekend. Last year, it was $325.44.
The National Retail Federation adds "a record 200.4 million consumers shopped during that time, surpassing last year’s record of 196.7 million."
The numbers come from a survey of 3,498 conducted November 22 through November 26.
Ted Rossman with Bankrate said it seems that consumers are more frugal this year.
"Retailers are having to offer deep discounts to get people excited," Rossman said.
Discounts are also happening over a longer period of time. Recently, the began in October.
"From a consumer standpoint, we like it. I feel like 25 or 30% off is kind of the floor," Rossman said, "This year, it's definitely the best discounting season in years."
Rossman added that even though NRF survey is seeing certain upticks, it excludes inflation.
That is why he describes consumer spending is in a holding pattern.
"The Fed may look at this as kind of a Goldilocks situation where it's not too hot, it's not too cold." Rossman said, "because if retail sales jumped a whole bunch people would say oh inflation got to raise rates more. But on the other hand, if they fell off a cliff, it would be like, Oh, we're heading for a recession. So, I actually think this may be that kind of just right middle ground."
As for sales the rest of the month, they are likely here to stay because of weaker demand and that inventory is in a good spot.