Last year, a record 202.9 million Americans went shopping between Thanksgiving and Cyber Monday. According to the National Retail Federation, the shoppers who made a purchase spent an average of $337.86 over the weekend.
That is a lot of people and a lot of money, and this year the sales are expected to start early again. Thanksgiving falls on Nov. 26, Black Friday is Nov. 27 and Cyber Monday is Nov. 30.
The shopper figures come from the National Retail Federation’s results for the 2025 holiday weekend.
A Record Crowd And $337.86 Each
The NRF’s numbers for 2025 show how big the weekend has become. The 202.9 million shoppers were up from 197 million the year before and topped the earlier record of 200.4 million in 2023.
About 134.9 million of them shopped online, and 129.5 million shopped in stores. The $337.86 average was up from $315.56 the previous year, and about two thirds of it went to gifts.
NRF President and CEO Matthew Shay described the shoppers as “a highly engaged consumer who is focused on value.” In other words, people were hunting for deals, and plenty of them were spending real money to do it.
“Was $200, Now $100” May Not Mean What You Think
Here is where the wise shopper pays attention. Under the Federal Trade Commission’s Guides Against Deceptive Pricing, a crossed-out “was” price should be one the retailer openly and actively offered for a reasonably substantial period.
That means a price that was only posted for a day or two before the sale is not supposed to count. A big red slash through a fancy number does not guarantee a bargain.
The easiest way to protect yourself is to know what things cost before the sales begin.
Write Down Today’s Prices Before The Sale Starts
Make a short list of what you plan to buy, and record the current price of each item. A notebook or a phone note works fine.
When Black Friday comes, you can compare the sale price to what the item really cost last week. If a $60 gift is “on sale” for $58, you will see it right away.
Compare identical items, too. Make sure the model number, size and any bundled extras match, because stores sometimes sell slightly different versions made just for sales.
Set A Total First, Then Give Everyone A Limit
The best protection against overspending is a number. Decide on a total for the whole season before you shop, and plan to pay it from your monthly budget or holiday savings.
Then give each person on your list a dollar limit, and track every purchase in a notebook, spreadsheet or budgeting app so you always know what is left. Leave a little cushion for delivery fees and gift wrap, which sneak up on people.
If you tend to overspend, try the cash envelope method. Put a fixed amount in an envelope for each category, and when the envelope is empty, you are done.
Think Twice About Buy Now, Pay Later
Buy now, pay later plans split a purchase into smaller payments, and they are everywhere at checkout. A Federal Reserve survey from October 2025 found that 16% of U.S. adults had used one in the prior year.
Of those users, 11% had a payment trigger an overdraft or insufficient funds fee. That is a reminder that small payments can add up, especially when several plans have different due dates.
If you do use one, add every payment to your budget on its due date. Read the terms for late fees and for how returns and refunds work, and ask yourself whether you could afford the purchase today.
Credit Cards Cost Money If You Carry A Balance
Credit cards with a grace period charge no interest on new purchases if you pay the full statement balance by the due date. If you carry a balance, you pay interest, and credit card rates tend to be among the highest ways to borrow.
If you already owe money on a card, consider paying that down before you add holiday spending. A great deal is no deal if it costs interest for months afterward.
A Few More Habits That Save Money
Check the return policy at each store before you buy, because windows and fees vary, and some sale items have special rules. Keep your receipts and packing slips in one folder until the new year.
Skip anything that is not on your list, even if the discount looks steep. A $30 impulse buy that nobody needed is still $30.
Sign up for store emails and loyalty programs, since some retailers offer early access to sales. You can always unsubscribe once the season ends.
Finally, try to enjoy the season. A record number of Americans shopped last year, but the best gifts are the ones chosen with care, and a plan will keep your holiday budget from spoiling the new year.
Where The Deals Really Are
Not every sale is a trap, and many stores do offer real discounts on big-ticket items like televisions, small appliances and winter coats. The trick is knowing the normal price so that you can tell a genuine markdown from a marketing line.
Give yourself a day to think about large purchases, too. If the deal is real, it will usually still be there tomorrow or at least come around again before Christmas.