Americans Spendings Between Black Friday and Cyber Monday: A Look into Consumer Habits

Vernon Shorts 11 months ago 2 min read

Title: US Shoppers Flock to Stores and Online to Kickstart Holiday Shopping Season

In what has become a time-honored tradition for Americans, shoppers in the US stormed the stores and online platforms during the Thanksgiving break, signaling a strong start to the holiday shopping season. Despite the impact of inflation on prices, consumers were eager to take advantage of the discounts and deals typically offered during this time.

According to data from Adobe Analytics, Black Friday alone witnessed a staggering $10 billion in purchases, marking a notable 7.5% increase from the previous year. This surge in sales demonstrates the resilience of consumer spending despite rising prices and economic uncertainties. The analysis further revealed that online spending on Black Friday also soared, increasing by 9% year-over-year to a staggering $16.4 billion, as reported by Salesforce.

A survey conducted by Deloitte uncovered that shoppers were determined to make the most out of the Black Friday to Cyber Monday (BFCM) shopping events. With consumers planning to spend an average of $567 during this period, there was a significant 13% increase from the previous year, indicating their readiness to splurge on both gifts and personal shopping needs.

Based on the survey findings, the peak shopping days were predicted to be Friday and Monday, with 65% of shoppers planning to hit the stores on Black Friday and 58% eagerly waiting to participate in Cyber Monday. The study also unveiled that 51% of shoppers expected to spend more this year, primarily due to their intention to purchase more gifts, while 44% were looking to update their wardrobes with non-gift clothing.

Furthermore, 40% of shoppers attributed their increased spending to higher prices witnessed this year. However, what is particularly notable is the recovery in shopper participation levels. The Deloitte study highlighted that the current level of engagement in BFCM events is now comparable to the pre-pandemic era.

The enthusiastic response from American shoppers during the Thanksgiving break has set a positive tone for retailers, indicating a potentially robust holiday shopping season despite inflation concerns. As the year comes to an end, retailers are hopeful that this trend will continue and aid in their recovery efforts.

With the spirit of giving and the allure of attractive deals still prominent, it is evident that Americans are not shying away from indulging in their holiday shopping rituals, proving that consumer confidence remains strong amid economic challenges.

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