The National Retail Federation report says that 2022 holiday sales grew to a record $936.3 billion. This is an increase of 5.3% since the year prior.
Over 62% of buyers think Black Friday is just a scam to get people to spend more money than they normally would. However, this doesn’t stop them from shopping, as over 80% of people state that they intend to shop on Black Friday and Cyber Monday.
As many as 65% of customers intend to shop online this season, and 36% of them will look for deals on social media. Therefore, retailers must intensify their efforts to build their ecommerce presence and invest in social media ads.
Customers do more research before deciding on Black Friday and Cyber Monday deals than before. As many as 88% of respondents say that they are willing to spend extra time comparing deals, and some of them will even spend a couple of hours on that.
A whopping 77% of customers are interested in booking an appointment online instead of in-store shopping to avoid crowds.
A report on Black Friday shopping statistics states that the total revenue from the last holiday season amounted to nearly $1.27 trillion. This includes the Black Friday sales numbers of $283 billion spent in online stores and ecommerce sales amounted to about $281 billion during the Cyber Monday sales Week.
According to research, shoppers spend $325 on average during the Thanksgiving period. On top of that, another study shows that approximately 4 in 10 holiday buyers are willing to go into debt on their credit cards because of holiday shopping.
Over 80% of people take part in shopping during the Black Friday and Cyber Monday events.
In numbers, how many people shop on Black Friday?
A study shows that in the US alone, over 140 million planned to shop on Black Friday in 2022.
On top of that, our Black Friday stats present that nearly 39% of shoppers save money for the event. Some of the customers will do Christmas shopping, some will buy products they’ve been wanting for a while, and others just want to purchase new items they like on the day.
Also, in comparison to our 2021 results, the number of online shoppers decreased from 64% to about 55% during the last year’s holiday shopping season. This means that more shoppers will go to the stores this year than during the previous holiday season.
A whopping 82% of buyers are willing to spend over 30 minutes in lines during the Black Friday event
On the opposite side, Millennials are the most patient ground of people when it comes to queuing—over 47% of them would spend over 50 minutes standing in a line during a Black Friday event.
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