The buzz of Black Friday and Cyber Monday is just around the corner, and shoppers are gearing up to hunt for the best deals of the year. How are people planning to spend, save, and shop this season?
CouponFollow surveyed 1,000 Americans to uncover their strategies—from managing budgets to navigating FOMO—offering fresh insights into the trends shaping 2024's biggest shopping events. Whether buying gifts or stocking up on essentials, this year's shoppers are making thoughtful decisions about where and when they spend.
Key Takeaways
- 20% of Americans plan to shop on Black Friday, 19% plan to shop on Cyber Monday, and 43% plan to do both.
- 34% of shoppers plan to spend less this year than last, but they still anticipate spending $276 on Cyber Monday and $246 on Black Friday.
- 62% of Americans plan to use Black Friday and Cyber Monday discounts to buy essentials and reduce future expenses.
- More than 1 in 4 shoppers plan to use "Buy Now, Pay Later" for their purchases.
- 16% plan to avoid certain retailers this Black Friday and Cyber Monday due to poor labor practices.
- BFCM FOMO: 38% fear missing out on Black Friday/Cyber Monday sales. Gen Z is most likely to feel this way (42%), followed by millennials (35%).
The Pulse of Black Friday and Cyber Monday Participation
- 20% of Americans plan to shop on Black Friday, 19% plan to shop on Cyber Monday, and 43% plan to do both.
- Men are planning to spend more than women on both Black Friday and Cyber Monday.
- 34% of shoppers plan to spend less this year than last, but they still anticipate spending $276 on Cyber Monday and $246 on Black Friday.
- Gen Z is most likely to treat themselves this Black Friday/Cyber Monday (42%).
Top Items To Buy This Black Friday/Cyber Monday
- Clothing and apparel (57%)
- Electronics (57%)
- Toys and games (31%)
- Home goods and furniture (30%)
- Self-care items (28%)
Smart Spending Strategies and Shopper Motivations
- 62% of Americans plan to use Black Friday and Cyber Monday discounts to buy essentials and reduce future expenses. They're most likely to purchase household supplies and groceries.
- More than 1 in 4 plan to use "Buy Now, Pay Later" for their purchases. Gen Z (34%) and millennials (28%) are the most likely to do so.
- 62% say inflation and rising costs of goods are impacting their spending plans for this Black Friday/Cyber Monday.
Black Friday Shopping Preferences 2024
- Amazon and Walmart are the top stores Americans plan to shop at this Black Friday and Cyber Monday.
- BFCM FOMO: 38% fear missing out on Black Friday/Cyber Monday sales.
- Gen Z were most likely to feel this way (42%), followed by millennials (35%).
- 16% plan to avoid certain retailers this Black Friday and Cyber Monday due to poor labor practices or perceived ethical issues.
Post-Cyber Monday: What's Next for Shoppers?
- 43% feel overwhelmed by extended Black Friday promotions.
- 47% start Black Friday shopping weeks before, as soon as the deals start, while 48% wait for the official day.
- The majority of shoppers (56%) would prefer fewer but higher-quality deals on Black Friday rather than more frequent, smaller discounts throughout the month.
Post-Cyber Monday Sales Shoppers Plan To Participate In
- Free Shipping Day (19%)
- Small Business Saturday (15%)
- Giving Tuesday (8%)
- Green Monday (6%)
Methodology
We surveyed 1,000 Americans to explore their Black Friday and Cyber Monday shopping plans. Of these respondents, 17% do not plan to participate, and only the remaining participants are included in the findings. The group consists of 17% Gen Z, 50% millennials, 25% Gen X, and 7% Baby Boomers. Some percentages in this study may not total 100 due to rounding. The survey was conducted on 10/20-10/21/2024.
About CouponFollow
CouponFollow helps shoppers save money by tracking the best promo codes and discounts from thousands of online stores. With our Cently browser extension, we make it easy to apply savings automatically at checkout. Whether hunting for deals during Black Friday and Cyber Monday or just looking to save on everyday purchases, CouponFollow empowers consumers to stretch their budgets and shop smarter.
Fair Use Statement
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