With Thanksgiving just a week away, Black Friday shopping – and the unofficial start of holiday shopping in general – is just around the corner. So how do Americans plan to shop during this oft-anticipated shopping weekend?
Black Friday & Cyber Monday Outlook
As the data show, more U.S. adults are planning on Black Friday shopping this year – up from 20% last year to 26% this year. As we saw last year, Gen Z continues to have the most enthusiasm as the generation most likely to be taking advantage of Black Friday deals.
More Americans will also be participating in Cyber Monday this month as well, with participation up from 18% last year to 23% this year.
In-Store or Online? Big Brands or Small Businesses?
In keeping with general in-person trends, in-store shopping looks to be up by six percentage points this year, with 18- to 24-year-olds also the most interested in shopping in stores. Meanwhile, older generations continue to prefer an online shopping experience.
And while the percentage of those who plan to shop Black Friday solely at small businesses has remained the same since 2021, the percentage of those splitting their spending equally between big brands and small businesses has risen by two points. Even amidst inflation and general waning independent/local shopping interest seen this season, these numbers could suggest an increasing commitment to shopping small for the holidays – at least for Black Friday.
Black Friday Plans Sliced by Major Retailers
Comparing Amazon, Target, and Walmart shows that Walmart favorables are the most likely to shop on Black Friday this year (34%). Target favorables are next in line, with 30% preparing for Black Friday deals, and 22% of Amazon favorables doing the same.
So as the holiday shopping season kicks into full gear next week, it’s clear that inflation concerns are not enough to keep the majority of Black Friday shoppers at bay. In fact, expected holiday spending is on the up and up and the return to in-person shopping is likely to be alive and well, with Gen Z continuing to lead the way.
What other key trends are we seeing this holiday shopping season? Learn more.