Retailers hoping Thanksgiving weekend sales would push overall holiday spending to new highs were instead greeted by "perfectly average" sales that will likely extend through the rest of the year, retail analyst Dana Telsey said on Cyber Monday.
Retailers pulled forward promotions this year, perhaps dampening Black Friday sales, but nothing suggests estimates for total 2015 holiday sales growth have changed at the close of the big four-day kickoff period.
"Last year was 4.1 percent. This year it will probably be around 3.5 percent," the CEO of Telsey Advisory Group told CNBC's "Squawk Box."
Retailers did not see big surges at bricks-and-mortar locations to rival those in years past, Telsey noted, adding to evidence that more consumers are shopping online.