Memorial Day weekend travel, deals: Yahoo Finance Reports

Memorial Day weekend is upon us, marking the unofficial start of the summer travel season. Yahoo Finance sat down with experts and executives to discuss what this Memorial Day weekend has in store for the travel and retail industry, as well as what deals shoppers may want to watch out for.

U.S. Secretary of Transportation Pete Buttigieg notes what to expect from travel this holiday weekend, as 44 million people are expected to travel from Thursday, May 23 to Monday, May 27, according to AAA. “About 3 million going through TSA checkpoints on Friday alone, which we think will be the busiest day of that Memorial Day weekend as far as air travel’s concerned.”

“Memorial Day weekend is one of the first big sales weekends for all retailers,” Wells Fargo Retail Finance Managing Director Adam Davis says. Davis discusses a few areas not to buy during this weekend’s sales, including summer apparel, latest electronics, and in-season goods. Some areas that Davis notes to buy this weekend are spring apparel, mattresses, furniture, and appliances.

“According to RetailMeNot, consumers will spend an average of $297 per person this weekend,” Yahoo Finance’s Brooke DiPalma notes, which is down 17% from a year ago. Some categories consumers are shopping in this weekend include food and beverages, clothing and accessories, eating out, party decor, event tickets, and home improvement/gardening, according to RetailMeNot.

According to a new GOBankingRates survey, “the average amount saved by not celebrating Memorial Day is about $150,” Yahoo Finance’s Rachelle Akuffo explains. The survey shows that 23% of people plan to spend $50 or less this Memorial Day weekend, while 18% plan to spend $51 to $99.

This post was written by Mariela Rosales.

Video Transcript

44 million travelers expected by AAA, about 3 million going through TS a checkpoints on Friday alone, which we think will be the busiest day of that Memorial Day weekend.

As far as air travel is concerned, Memorial Day weekend is one of the first big sales weekends for all retailers.

And so you’re going to see most of them participate in season goods.

They’re just, they’re gonna be promoted this weekend but not as heavily as potential those big ticket items, which historically, this is a big weekend for that.

I think the other piece being retailers are going to try to clear through kind of that spring merchandise, especially like apparel.

I think what you’ll see is at the end of the season, that’s where heavy discounts will come into play.

According to retail, me, not, consumers will spend an average of $297 per person this weekend.

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That’s actually down about 17% from where we were a year ago and just how much consumers typically spent during this holiday weekend.

Yet consumers seem to be willing to stretch their dollar in order to celebrate this Memorial Day weekend.

A majority of Americans do plan to skip out on shopping this weekend entirely.

34% say they will wait until Monday though in hopes to score the best deal.

So a mixed picture this holiday weekend to a new go banking survey, the average amount saved by not celebrating Memorial Day is about 100 and $50.

Now, that might not sound like much.

But if you’re trying to make ends meet, that can be tough, especially at the moment.

And of course, the Veterans Affairs website actually lists more than 200 free in person and virtual events all around Memorial Day and across the country.

So there is something for everyone’s budget to work with, to honor the day.