70% of US consumers shop for themselves during holiday sales

Published: 2023-10-30

INSIGHTS

Around 70 per cent of US consumers shop for themselves during holiday sales like Black Friday and Cyber Monday, and 67 per cent shop for immediate family.
Despite concerns about inflation affecting 54 per cent of respondents, 87 per cent plan to participate in holiday sales this year.
Those who opt out cite reasons including recession fears.

Around 70 per cent of consumers in the US admit to shopping for themselves during holiday sales such as Black Friday and Cyber Monday, as per a survey. Sixty-seven per cent will also use the sales as an opportunity to shop for immediate family members.

Also, 87 per cent of the respondents plan to shop at holiday sales events again this year. Another 11 per cent are unsure about whether they will shop but will consider it. Only 2 per cent stated that they do not plan to shop during these sales, according to a survey developed by shopping platform Slickdeals and conducted via Suzy.

Those not planning to shop the holiday sales this year are primarily driven by the impacts of inflation on their disposable income at 52 per cent, and 43 per cent said they won’t shop because they are trying to spend less due to fear of recession. In fact, inflation is the leading concern at 54 per cent for all respondents when it comes to socioeconomic factors impacting their holiday shopping this year.

Despite those concerns, 37 per cent plan to spend upwards of $501 during holiday sales this year. Fifty-five per cent said their main goal for shopping during Black Friday or Cyber Monday is to complete most of their holiday shopping and 55 per cent said it’s to save money on big-ticket items.

The top categories in which consumers plan to allocate their dollars include product categories that include clothing and shoes at 72 per cent.

The most anticipated items for Black Friday and Cyber Monday this year included clothing at 59 per cent.

Black Friday and Cyber Monday still reign supreme, with 59 per cent of respondents saying they will do their holiday shopping during those sales events. Twelve per cent will shop in early December and 3 per cent will wait until the last minute, shopping right before the holidays. Another 1 per cent stated they were already done with their holiday shopping prior to October.

Even with the holiday sales cycle now extending into October, only 24 per cent of consumers say they feel burnout from frequent sale events offered by retailers.

Fibre2Fashion News Desk (NB)