November 23, 2022
Despite economic concerns and inflation, consumers are projected to return to retail stores in greater numbers over the upcoming winter holiday retail season. New data from Samba TV finds around seven in 10 shoppers plan to take part in Black Friday (71%) and Cyber Monday (70%) shopping. This is an increase from last year, when six in 10 participated.
Millennials are even more likely to take part in Black Friday and Cyber Monday shopping than the average U.S. adult, with 88% planning to participate in Black Friday this year and 87% planning to participate in Cyber Monday.
The data is based on an Aug. 29-Sept. 1 survey of 2,505 adults conducted by HarrisX.
Overall, 31% of U.S. adults plan to do most of their holiday shopping in-store this holiday season. More than one in four plan to increase in-store shopping this year compared with last year. Of all age groups, Gen Z is most likely to shop in-store on Black Friday, with more than half (56%) planning to do so.
In-store consumers are also set to spend more than online shoppers, with the average person planning to do the majority of their holiday shopping in-store expecting to spend $1,286 this holiday season and the average majority online shopper planning to spend $853.
“With Americans continuing to embrace a ‘return to normalcy,’ retailers will see trends like a return to in-person shopping emerge fueling the holiday season with overall spending behaviors on par with previous years,” Ashwin Navin, CEO of Samba TV, said in a statement.