Study: 36% of consumers shop Black Friday; discounts, deals main motivator
Fashion will be most sought-after purchase category during Black Friday and Cyber Monday.
That’s according to YouGov’s “US Black Friday & Cyber Monday” report, which also found that 36% of Americans are planning to participate in Black Friday this year, while 34% are set to shop during Cyber Monday. Some shoppers expect to spend less this year, with 27% saying they’ll spend less and just 9% anticipating spending more.
Fashion leads the way as the top purchase category among all U.S. Black Friday/Cyber Monday shoppers, with 60% of all shoppers and 71% of younger Americans (18-34) likely to shop for clothing during mega-sales events. That’s followed by tech products, with 54% of shoppers likely to make a purchase.
In other findings, the main motivator for Black Friday/Cyber Monday spending is discounts and deals (73%). This is followed by the opportunity to shop for Christmas (41%).
[READ MORE: JLL: Holiday budgets up this year, but gift spending to fall; mall visits to rise]
Additional highlights from the YouGov report are below.
•Americans say they are only slightly more likely to make a purchase on Black Friday than Cyber Monday (36% vs 34%). But Cyber Monday is much more popular in the U.S. than across the globe (22% average across 17 markets studied).
•Digital channels drive the most awareness among Black Friday & Cyber Monday shoppers, with online shopping websites (47%), online advertisements (44%), social media (44%), retailer websites (39%), and email newsletters (34%) all outpacing TV advertising (33%)
•U.S. Black Friday/Cyber Monday shoppers spent $325, on average, during the sales events in 2023
•Skechers and Old Navy led the fashion retail brands category with the highest “buzz” score during Black Friday/Cyber Monday 2023. The Home Depot, Costco and Lowe’s led the retail store brands category.
“As the effects of inflation continue to weigh heavily on Americans, it is likely that Black Friday and Cyber Monday will see shoppers showing more restraint in their spending,” said Kenton Barello, VP at YouGov. “Retailers will find success highlighting deals on social media and online advertising channels. This will be especially true considering that our research suggests Cyber Monday is now nearly as popular as Black Friday.”
To read the complete YouGov report, click here.
