According to a recent YouGov report, just over one-third (36 percent) of Americans plan to shop for this year’s holiday season on Black Friday, while 34 percent will shop on Cyber Monday. The report also notes that the same consumers expect to spend less during those iconic shopping days, with 27 percent planning to spend less and just 9 percent increasing their spending from last year.

Key findings in the report include the following:

  • Americans are slightly “More Likely” to purchase holiday gifts on Black Friday than on Cyber Monday (36 percent vs. 34 percent), although Cyber Monday is a “More Popular” shopping day for Americans than worldwide (22 percent average across 17 markets studied). 
  • Fashion will be the most sought-after product category, with 60 percent of shoppers and 71 percent of Americans ages 18 to 34 likely to shop for clothing during mega-sales events. 
  • Digital channels will drive the “Most Awareness” on Black Friday and Cyber Monday for consumers, with online shopping websites (47 percent), online advertisements (44 percent), social media (44 percent), retailer websites (39 percent), and email newsletters (34 percent) outpacing TV advertising (33 percent). 
  • Among fashion retail brands, Skechers generated the most buzz during November 2023, followed by Old Navy, Nike, Rolex, Levi’s, New Balance, Adidas, Under Armour, Victoria’s Secret, and The North Face.
  • On average, U.S. consumers spent $325 during the sales events conducted on Black Friday and Cyber in 2023. 

“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,” continued Barello.

YouGov based its report findings on a multi-region survey conducted from July 12 to 30, with 1,503 U.S. participants. To view the full report, go here.

Image courtesy Ecowiser