The holiday shopping season is upon us, and an estimated 132 million Americans plan to shop the pre-holiday sales (such as Black Friday and Cyber Monday) in 2023, according to the latest research from Finder. And with an average spend of $708, Americans will part with roughly $60 billion this year trying to score a deal.Graphic source
Women slightly more likely to shop the sales
In 2023, women are more likely to say they’ll be hitting the Black Friday sales, with 57% of women saying they’ll be bargain hunting compared to 44% of men.Graphic source
However, the average man is handing over $565 at the sales compared to $382 for women.Graphic source
Generation Z top Black Friday shoppers
Generation Z will be hunting for bargains this holiday season, with 68% of those surveyed saying they plan to shop the Black Friday sales. However, generation Z also plans on spending the least of any generation at $357.
Northeast homes the highest percentage of holiday shoppers
Black Friday is most popular with those in the Northeast, with 54% saying they plan to shop the sales. They’re also the biggest spenders, with the average shopper handing over $547. Those in the Midwest and West are the least likely to shop the Black Friday sales (just 49%). People in the Midwest plan to spend the least per person at $393.Graphic source
Are Black Friday sales worth it?
While only 50.5% said they planned to shop the Black Friday sales, a combined 52% say Black Friday sales are good value. However, 34% say that while Black Friday offers good deals, it’s not always worth the hassle.Graphic source
Slightly more men than women think Black Friday sales offer value
About two-fifths of men (63%) and women (61%) say Black Friday is a great chance to score a deal. Women are a little more suspect of retailers than men, with over a quarter (26%) of women suspecting that retailers just inflate their prices presale only to “discount them” for the sales.Graphic source
Gen Y say Black Friday is a great deal
While generation Z is the most likely to be shopping the sales, it’s actually gen Y who says the day represents a great deal, with 71% saying Black Friday sales are good value.Graphic source
The United States of Black Friday sale shoppers
The country may have differences from coast to coast, but the value offered by the Black Friday sales is something many of us share, with 71% of those in the Northeast and South and 68% of those in the Midwest and West saying the sales offer good value.Graphic source
Once bitten, twice shy
Approximately 52% of those surveyed said they’d bought a sale item only to regret it later, with the average amount spent on a regrettable item coming out at $249.Graphic source
Men make costlier shopping errors
Women are far more likely than men to regret past purchases, with 49% saying they’ve bought a sale item and regretted it compared to 44% of men. However, the amount spent on these regretful decisions was vastly different, with the average regretful purchase by men ($354) more than double that spent by women ($194).Graphic source
Generation Z regret their past purchases
Generation Z rues their previous Black Friday sales pickups the most, with 60% having bought something on sale they later regretted. Gen Y has the most expensive regrets at $355.Graphic source
The Midwest has the least regret over past purchases
People in the Mideast have the least regret over items they bought on prior Black Friday sales at 56%, while the average regretted item is at its lowest in the South ($229).Graphic source
How can you protect yourself against porch pirates?
With so many people plannign to shop the pre-Christmas sales it could be a busy time for porch pirates, with 23% of those surveyed by Finder saying they had a package stolen in the last 12 months. If you’re looking to protect your Black Friday and Cyber Monday purchases, outside of perching on your porch, you should make sure that you use a credit card that offers purchase protection. This way if your sale item is stolen, lost or damaged in transit you’re covered.
About the Author
Richard Laycock is Finder’s NYC-based senior content marketing manager & insights editor, spending the last decade data diving, writing and editing articles about all things personal finance. His musings can be found across the web including on NASDAQ, MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University, including a semester abroad at The Missouri School of Journalism (MIZZOU).
Image source: Getty
More guides on Finder
Holiday spending statistics 2023
How much are people spending on Christmas on average, how many gifts are they buying and will they be cutting back on spending in 2023?
This free app can multiply (5x) your card rewards this holiday season
Kudos is a free app that helps match your rewards so you can earn more than double in cash back at popular stores.
Porch pirates statistics
Porch piracy is alive and well, but there are ways to protect your deliveries this holiday season.
Black Friday statistics 2023
Americans love a good deal, but how many people will be shopping Black Friday sales this year?
6 online shopping hacks for a spooktacular Halloween and beyond
See how to save money when shopping for Halloween candy, costumes or getting a head start on holiday shopping with Kudos and other hacks.
8 best tips to build excellent credit scores
Getting your credit score from less than good to great.
5 free ways to turn card spending into charitable donations
Use these five tips to get more from your credit card spending and help organizations you care about without hurting your finances.
$1.28 billion to be spent on turkey’s for Thanksgiving 2023
Americans are forecast to spend $1.1 billion on Thanksgiving turkeys in 2023.
How much will Americans spend on Jack-o’-Lanterns this Halloween?
Finder looks into the cost of a pumpkin for 2023 which shows Americans plan to spend $843.6 million pumpkin bill for Halloween.
Ask an Expert