Results from InUnison’s second 2025 Holiday Sales Survey suggest that Thanksgiving weekend delivered a modest improvement from earlier in the season for some Richmond-area local businesses, though gains were far from universal. While national retailers continue to report strong holiday performance tied to major promotional weekends, local businesses experienced a more mixed outcome — with incremental gains, steady traffic for many, and lingering challenges around turnout and consumer confidence.
Compared to the first holiday pulse earlier in the season, sentiment has stabilized, but results point to a holiday season that remains highly variable across business types and days. This survey captures how local businesses performed through Thanksgiving weekend, offering an early read on whether momentum has shifted since the season began.
Revenue and Traffic Show Signs of Stabilization
Through Thanksgiving weekend, 48% of businesses reported revenue that was higher or about the same as last year, while 27% reported lower performance. In-store traffic followed a similar pattern: nearly 39% said traffic was about the same, with another 31% reporting increases, and 31% seeing declines.
“We’re hearing more than usual from clients facing financial hardship — our services are often the first thing they cut.”
While not a surge, these results suggest that the early softness seen at the start of the season did not significantly worsen — and for some businesses, conditions modestly improved from earlier in the season.
Thanksgiving Weekend Provided a Lift — But Not a Surge
For many local businesses, Thanksgiving weekend brought incremental improvement rather than a dramatic surge. Just over half of respondents reported either a slight boost or no noticeable change, while 13% said sales were lower than expected. For most, the weekend helped stabilize performance rather than drive a single breakout moment.
No Single Shopping Day Dominated
When asked which day or campaign was most successful, responses were widely distributed. Small Business Saturday and Black Friday performed similarly, while nearly 29% of respondents said no specific day stood out. This pattern suggests that holiday spending is being spread across multiple days and occasions rather than concentrated into a single shopping event.
Although 65% of respondents did not participate in formal ‘shop local’ promotions, those who did saw results: nearly three-quarters said these efforts positively impacted traffic or sales — pointing to continued opportunity for coordinated local campaigns.
In-Store Sales Still Drive the Holiday Season
Despite ongoing national emphasis on digital shopping, Thanksgiving weekend sales for local businesses remained predominantly in-store, consistent with patterns seen earlier in the season. Online sales and social marketplaces accounted for only a small share of revenue for most respondents, echoing trends seen earlier in the season.
This gap between national e-commerce narratives and local realities remains a defining feature of the 2025 holiday season.
Local Shoppers Continue to Power Local Businesses
Thanksgiving weekend traffic was predominantly local. Nearly 74% of respondents said their customers were mostly or entirely from the RVA region, reinforcing that holiday performance for local businesses depends heavily on resident support rather than visitor or destination spending.
“Shopping local gives a better experience and is the best way to support the local economy — there’s no comparison to a big box store.”
Challenges Persist, Especially Around Turnout and Reach
When asked about constraints during the weekend, businesses most frequently cited consumer turnout, marketing reach, weather, and competition from online retailers. Staffing and inventory pressures were present but secondary.
“Staying visible in marketing matters — not getting distracted by the holidays and continuing the habits that created success earlier in the year.”
Outlook for December: Cautious, but Leaning Positive
Looking ahead, 54% of respondents feel optimistic or somewhat optimistic about December, while 31% feel neutral. Only a small share expressed pessimism.
That outlook reflects tempered expectations: businesses are hopeful that core December weeks will deliver, but few are counting on a dramatic late-season rebound.
Bottom Line
Thanksgiving weekend brought modest stabilization for some Richmond-area local businesses, but momentum remains uneven. With holiday spending still cautious, in-store sales carrying the load, and no single shopping day dominating, the final weeks of the season will be critical in determining whether the season closes out stronger — or simply steadier — for local businesses.
Note: Sales and traffic findings reflect consumer-facing businesses only; pure B2B respondents were routed past these questions due to survey skip logic.
