Black Friday is a highly anticipated shopping event that marks the start of the holiday shopping season. Consumers eagerly await this day to snag the best deals on a wide range of products, from electronics to clothing. As the holiday season approaches, it's crucial for retailers to understand the shopping trends, spending patterns, and consumer behavior associated with Black Friday. KNow your Black friday shopping statistics now.
How do we collect these statistics?
We utilize data from reputable sources, such as Moosend and Adobe, to provide expert insights into Black Friday shopping statistics.
11 Black friday shopping statistics
Let's dive into some fascinating Black Friday shopping statistics. These figures will shed light on consumer behavior and spending patterns during this highly anticipated shopping event.
- Over three-quarters (75%) of respondents said that they spent over $100 on Black Friday 2022. Additionally, the majority of Black Friday shoppers in 2022 indicated that they spent more than in 2021 (46% of respondents). Meanwhile, 27% said that they spent the same, and 22% said that they spent less money than in 2021 (Source: NIQ, 2022).
- The data on Black Friday shopping patterns reveals a snapshot of consumer behavior in Brazil, Colombia, and Germany, showcasing diverse market dynamics. For example, in 2022, a notable 76% of global respondents marked Black Friday as a shopping day on their calendars (Source: Simon-Kucher, 2022)
- Most U.S. consumers plan to start their Black Friday shopping bright and early – between 5 AM and 10 AM (29% of people). (Source: Techopedia)
- The share of people planning to start their Black Friday shopping on Thanksgiving has gone up 13% compared to 2022. (Source: Drive Research, 2023)
- A report on Black Friday shopping statistics states that the total revenue from the last holiday season amounted to nearly $1.27 trillion. (Source: Tidio)
- Walmart, Target, and Kohl’s were the most popular retailers for 2022 Black Friday shoppers, as consumers started to prefer in-store shopping again. (Source: Moosend)
- In September 2023, 71% of survey respondents said that they would shop online on Black Friday and Cyber Monday 2023 (Source: Adobe, 2023c).
- The 2023 Black Friday’s deepest discounts for televisions are expected to reach -22%, breaking previous records (Source: Adobe, 2023c).
- On Black Friday 2022, conversion rates were 13 percentage points higher than on Black Friday 2021 (Source: Impact, 2022).
- In 2022, 81% of possible U.S. Black Friday and Cyber Monday shoppers said that getting the best price or value was their priority (Source: Google, 2022).
- In 2023, 74% of U.S. consumers indicated that they cared about the environmental impact of the products they buy (Source: PDI, 2023).
Conclusion
It is evident that Black Friday continues to be a highly anticipated shopping event, with a significant number of people participating both in-store and online. The data also highlights the increasing popularity of mobile shopping and the influence of social media on purchase decisions. As retailers prepare for future Black Friday events, it is crucial for them to leverage these insights to create compelling offers and provide a seamless shopping experience across all channels.
