Survey Finds Strong Omnichannel Shopping Plans for Thanksgiving Weekend.

A vast majority of U.S. consumers plan to shop over Thanksgiving weekend despite mixed economic signals, according to a new survey from ICSC.

The organization estimates that 88% of U.S. adults — about 235 million people — expect to spend roughly $127 billion from Thanksgiving Day through Cyber Monday. Shoppers anticipate spending an average of $542 over the five-day period, slightly above last year’s $529. Millennials are projected to lead all generations with average spending of $764 per person.

More than one-third of consumers, or 36%, say they plan to spend more than last year, while 40% expect to spend the same amount. Gen Z shows the strongest momentum, with nearly six in 10 expecting to increase their spending compared with 2024, says Chain Store Age, which reported on ICSC’s findings.

ICSC found that shoppers continue to favor a mix of digital and in-person shopping. Among those planning to make purchases, 83% expect to shop in physical stores — a trend led by Gen Z — and an equal share plan to shop online for delivery. Another 58% intend to order online and pick up items in stores.

The survey also shows that retail centers remain a key destination. Eighty percent of Thanksgiving weekend shoppers plan to visit a center, with many combining shopping with dining, entertainment or holiday-themed activities. Fifty-nine percent expect to shop, 48% plan to dine and 28% say they will attend holiday events.

Consumers also intend to spread their dollars across a variety of retailers. Nearly two-thirds plan to shop at large national chains or big-box stores, 62% expect to use online marketplaces and 34% plan to buy from local independent businesses.

“Despite the longer holiday season, Thanksgiving weekend remains a vital moment for retailers and shoppers alike, and we see no signs of momentum slowing,” ICSC President and CEO Tom McGee says in the report. “This year’s results reinforce what we’ve seen all year. Consumers are ready to spend, but they expect value from their dollars. Every year, there’s a question about whether the long holiday weekend still matters. And every year, the answer from consumers is the same: it does.”

Deals remain the primary motivation for shoppers. Fifty-nine percent cite discounts and exclusive offers as their main reason for shopping during the weekend, up two percentage points from 2024. Nearly two-thirds of shoppers say they will complete most or all of their holiday purchases between Thanksgiving and Cyber Monday, led by Gen Z at 76% and millennials at 71%.

The 2025 ICSC Thanksgiving Weekend Intentions Survey was conducted online Nov. 10-12 and includes a nationally representative sample of 1,015 respondents.