An estimated 72.4 million American adults plan to shop Black Friday this year.
Holiday sales periods like Black Friday and Cyber Monday have become a global phenomenon and one of the largest shopping days, both online and in person. In fact, new research from Finder.com reveals 28% of American adults, or an estimated 72.4 million people, plan to shop end-of-year sales like Black Friday this year. Finder conducted two separate surveys to find out why Americans are shopping and how much of a discount it’ll take. Let’s unpack the stats.
Who is most likely to shop the Black Friday sales?
Women are slightly more likely than men to partake in the shopping event, with 29% of women saying they plan to make a purchase compared to 27% of men.
People between ages 35 and 44 are the most likely to partake in the event, with 34% in this age group saying they will shop the sales. Meanwhile, just 24% of those ages 25 to 34 and 65 and older say the same.
Why are Americans shopping Black Friday?
We all have our reasons for shopping the sales – some are jonesing for a good deal while others simply have nothing else to do. In America, it turns out 11% of adults plan to shop because they think they’ll find a good deal, while 6% are shopping to stave off boredom. The remaining 11% say they’re shopping but couldn’t give a specific reason why.
Men are more likely than women to be a procrasti-shopper, with 7% of men planning to shop because they’re bored compared to just 4% of women. However, they’re just as likely as one another to shop for a good deal, with 11% of both sexes shopping for this reason.
Why aren’t Americans shopping Black Friday?
It doesn’t take too much imagination to wonder why someone would want to buy an item for less. So why wouldn’t they? It turns out that 8% of American adults think that retailers inflate prices before sales, making them want to opt out altogether.
An additional 5% say the products they want aren’t discounted, while 4% say they have never heard of Black Friday.
How much of a discount will it take for Americans to shop Black Friday?
In a separate survey, Finder asked Americans how much of a discount it would take to shop the sales. Across the board, 58% of adults say they could be enticed to make a purchase this Black Friday — but only if the price is right. On average, it’ll take an average discount of 58% to coax Americans out to shop on Black Friday 2021.
One in five adults (19%) say it would take a discount of 50% to get them interested in going shopping.
The next most common response was 90%, with 15% saying they’d need a discount of at least that to pique their interest.
Taking nearly three-quarters of the price was the third most common response, with 11% saying they’d need a 70% discount to consider shopping.
Are men or women most likely to be enticed by the Black Friday sales?
More American men are planning to hit the sales than women, with 59% of men saying they could be convinced to shop the sales, compared to 57% of women.
The top response for both men and women was a discount of 50%, with 19% of both men and women looking for a discount of at least half-off.
Getting items for 90% off was the second most common answer for the sexes. However, slightly more women (16%) than men (14%) said they’d need prices cut by this much.
The next most common discount that would entice women into shopping was 70% off, with 14% needing to save at least that much. Whereas for 10% of men, it would only take a discount of 25%.
Younger Americans most likely to be enticed
Those aged 18-24 are most likely to shop the sales, with 69% saying they’ll be enticed to shop if the price is right. Meanwhile, those aged 65+ are least likely to take part, with just 52% saying any discount could catch their eye.
Which country has the most Black Friday shoppers?
Black Friday can bring to mind hoards of American bargain-hunters breaking through the front doors of stores across the country. So, it’s unsurprising the US tops the list for the number of people searching Black Friday deals in 2021.
The US has the highest search interest in Black Friday, making up roughly 21% of search volume for the shopping holiday, according to our analysis of historical search data for four key terms related to the shopping holiday in 31 countries. (See our methodology for a breakdown of our analysis.) Search interest within the US in 2021 is also up compared to 2020, jumping roughly 7%.
Germany takes silver for search interest in Black Friday, making up about 13% of the search interest in those 31 countries. And interest is way up in Germany, jumping roughly 18% year-on-year.
Taking the final spot on the podium is Brazil, which makes up around 11% of the search volume. Search interest in Brazil saw modest gains in 2021 of roughly 4%.
Chile may have only ranked 22nd in terms of search volume but saw the largest year-on-year gain in search interest (41%), whereas interest in Italy went the other way, with a precipitous drop of roughly 74%.
Want to know how your country stacks up? View the 31 countries searching for Black Friday in our map below, or use the table in the tab to see where your country ended up over the last three years:
Search volume data from Ahrefs suggests that one of the most popular places to go for Black Friday deals is Walmart. Other popular retailers searched for include Best Buy, Target and Kohls.
What are people looking to buy on Black Friday?
In terms of specific products and brands, data suggests that people are looking to bag deals on products like TVs and the Nintendo Switch. Other popular brands include Apple, Verizon and Hulu.
Finder surveyed a convenience sample of 2,003 American adults via an online Google survey from September 28–30, 2021. Google applied weighting to the survey results to be representatively proportionate to the general internet population. The details of Google’s survey methodology can be found here.
For the search data, Finder has been collecting search data for most of the 31 countries since 2019 from multiple sources, including SEMRush, Ahrefs and Google. To get the overall ranking, Finder used a combination of the term “Black Friday,” in conjunction with ancillary searches that included either year (i.e. 2020 or 2021) and the local equivalent search for “Black Friday deals.”
For the list of retailers, Finder looked at the top 1,000 search results as per Ahrefs to get a list of retailers, products and brands which were dominant in the results. Because of the large volume, various iterations of spelling mistakes and the limited scope (i.e. top 1,000 search results), we chose to present the results in no particular order.
Past Black Friday Stats
While in-store doorbuster sales may not be happening in 2020, that’s not going to stop Americans from spending on the biggest shopping holiday of the year. Adults in the US are expected to drop a total of $148.5 billion on Black Friday and Cyber Monday, according to the latest survey data from Finder.
The amount Americans are planning to spend in 2020 is up $285 million compared to 2019, with American consumers expected to spend on average $664.77 in 2020. The number of Americans planning to take advantage of the pre-Christmas sales period is also expected to rise from 86% in 2019 to 88% in 2020.
Furniture items are at the top of shopping lists in 2020, with Americans expected to spend $253 on average. Major appliances closely follow at $234 and electronics at an average of $223.
Interestingly, COVID-19 hasn’t seemed to dampen Americans’ desire to travel, with US adults planning to spend an average of $217 on trips.
While approximately 87% of each gender population are planning to shop for deals on Black Friday, men are planning to spend over $100 more than women, with American men to spend an average of $724.46 compared to $610.71 for women.
There are, however, disparities. Women plan to spend an average of $278.15 on major appliances compared to men, who plan to spend an average of $213.57. On furniture, the average spend for women comes in at $299.14 compared to $226.77 for men.
While Gen Z will most likely take advantage of Black Friday deals in 2020 — with 92.43% saying they’re buying something in the pre-Christmas shopping bonanza — it’s millennials who will be spending the most. The 91.88% who plan to buy something will shell out $851.79 on average.
At the other end of the spectrum is the Silent Generation, who is not only the generation least likely to participate in Black Friday shopping at 72%, but the lowest-spending at an average of $403.62.
While those in the Silent Generation are spending the least on average, their generation will spend the most on furniture at $493.91, with the Baby Boomers next at $409.33.
Interestingly, the biggest generational discrepancy for spending is major appliances, with Baby Boomers planning to spend an average of $449.86 and millennials planning to spend the next closest average amount at $266.35.
The South to spend the most
Southerners plan to spend an average of $717.05 on Black Friday. Those from the Northeast are expected to spend the least at an average of $559.17.
Generally speaking, the more you earn, the more you’ll likely spend on Black Friday deals, with only one income group ($100K-$119,999) bucking the trend. Those earning $120K and over plan to spend the most on average at $869.52. Those planning to spend the least are earning less than $20K and plan to spend $447.86.
How does income affect spending habits?
Annual income
Average expected spend
Less than $20,000
$447.86
$20,000 to $39,999
$582.31
$40,000 to $59,999
$758.86
$60,000 to $79,999
$797.20
$80,000 to $99,999
$815.22
$100,000 to $119,999
$689.44
$120,000 or over
$869.52
Regrettable purchases are inevitable
While it feels great to snag a deal, buying something just because it was cheap leads many to regret their purchase. That feeling of buyer’s remorse is fairly universal, with 64% of Americans saying they’ve bought something on sale that they later regretted, which is up from 49% in 2019.
At the top of the list of regrets are clothing and shoes, with 77.27% of purchasers making regrettable decisions. While clothing and shoes were the most commonly regretted purchases, the average cost of those items was quite low at $72.02 — whereas household appliances were the most costly regrets at an average of $255.11.
Our data is based on an online survey of 1,800 US adults born between 1928 and 2002 commissioned by Finder and conducted by Pureprofile in September 2020. Participants were paid volunteers.
We assume the 1,800 participants in our survey represent the US population of 254.7 million Americans who are at least 18 years old according to the July 2019 US Census Bureau estimate. This assumption was made at the 95% confidence level with a 2.32% margin of error.
The survey asked respondents how much they think they will spend during pre-Christmas sales (Black Friday, Cyber Monday, Singles Day) in several categories. We also asked respondents if they ever bought something on sale that they later regretted, and what was the most they spent on a regretted purchase from the category list.
Average spending calculations are based on only the participants who were planning on spending in that particular category — for example, to calculate average pre-Christmas spending, 12.44% of participants responded “0” in all categories and were not included.
We excluded zeroes in calculating averages which is why despite women spending more on average in most categories, average total spending is higher for men
To avoid skewing the data, we did not include extreme outliers in our calculations.
We define generations by birth year according to the Pew Research Center’s generational guidelines:
Gen Z: 1997-2002
Millennials: 1981-1996
Gen X: 1965-1980
Baby Boomers: 1949-1964
The Silent Generation: 1928-1945
We define geographical regions according to the divisions of the US Census Bureau.
Expect Americans to drop roughly $148 billion on Black Friday and Cyber Monday this year.
86% of Americans are planning to spend their hard-earned cash on pre-Christmas sales such as Black Friday, Cyber Monday and Singles Day according to the latest research from finder.com.
Men hunting for a deal
While stereotypes might have you thinking that women are more likely than men to shop ’til they drop, slightly more men say they’ll brave the crowds to hunt for deals this year. Some 87% of men say they plan to shop over Black Friday and Cyber Monday, versus 85% of women.
With a low 2% difference between the genders, men are expected to spend only $111.61 more than women, budgeting an average $744.88 for men compared with $633.27 for women.
Baby boomers are livin’ large for 2019
Gen X took the lead for the average amount planned to be spent, with 89% of Gen X saying they’ll partake in pre-Christmas sales, planning to spend an average of $797.66 in 2019. Millennials followed with 93% of Millennials saying they planned to spend an average of $719.89. Baby boomers were the most frugal group, with only 78% of Baby boomers saying they’d spend an average of $527.53 – more than 30% less than Gen X.
Of the 89% of Gen X that will be participating in Black Friday, they plan to spend the most within their generation on electronics at $16.7 billion and the least on beauty and makeup at $3.2 billion. 93% of Millennials will spend the most money within their generation on electronics also with data analysis reporting the amount at $8.3 billion. Millennials will also spend the least amount of money on beauty and makeup at $1.8 billion – roughly $1.4 billion less than Gen X plans to spend.
Baby boomers reported they plan to spend the least on beauty and makeup, at $1.5 billion dollars. Although, unlike Gen X and Millennials planning to drop the most dough on electronics, Baby boomers seem to have an appetite with an estimated $9.1 billion being planned to be spent on food and drinks.
Do you regret your shopping spree? You’re not alone!
Approximately 49% of people have purchased something on sale that they later regretted. The average amount spent per item was $143.73.
Gender Men (52%) are more likely than women (46%) to regret a shopping purchase. On average, women regret purchases of about $129.00, while for men the amount is slightly more at $158.09.
Generation Of the generations, Gen X’s regret the highest amount of purchases — an average of $158.82. Millennials, on the other hand, spent an average of $128.51 and Baby boomers an average of $133.87 on purchases they later regretted. Millennials carry the most regret, with 62% saying they regret a sale purchase. Baby boomers come in last for regret, with only 40% of boomers reporting regretting their sale purchases.
Methodology We calculated these figures from a survey of 1,611 American adults who reported they participate in pre-Christmas sales events (Black Friday, Cyber Monday, Singles Day) commissioned by finder.com and conducted by global research provider Pureprofile in October 2019. Our pre-Christmas spending question was phrased slightly differently from prior years to calculated how much respondents spent in various categories.
Ask the experts…
Ana Serafin Smith
Senior Director, Media Relations
National Retail Federation
Some of the trends we are seeing this season includes starting Black Friday deals as early as November 1st, special promotions online and in-store unique to those customers that like to shop on both venues or just one!, offering gift cards as an incentive to buy some of the hot items of the season to even special store hours on Thanksgiving and Black Friday for those that want to get into the stores, check off that holiday list and walk off that Turkey.
Thanksgiving weekend is officially the half way mark for the holiday shopping season. Consumers see this weekend as a cultural experience and family tradition that will continue for years to come.
Maggie Baker
Psychologist, financial therapist and author of Crazy About Money: How Emotions Confuse Our Money Choices and What to Do About it.
President, Baker & Baker Associates
Thanksgiving is a time for gratitude AND it signals the start of the holiday gift seeking and giving.
Who doesn’t like a good deal? The anticipation of those deep price cuts and the rush to get there first heightens the excitement and increases the frenzy to GET THE DEAL, NOW! Excitement clouds this reality: even though you are getting great deals, you are still spending money. You are vulnerable to spending more in the excitement of now. Make a list of what you need or want and stick to it. Later, the bills won’t then seem like such a downer!
Black Friday 2018 is expected to be bigger than ever, with 74% of Americans planning to open their wallets on either Black Friday and Cyber Monday, according to the latest research from finder.com.
The average adult is expected to drop $483.18 on the shopping holiday of holidays, which equates to $90.14 billion — up $30.57 billion from 2017’s projected spend of $59.57 billion.
Men hunting for a deal
While stereotypes might have you thinking that women are more likely than men to shop ’til they drop, slightly more men say they’ll brave the crowds to hunt for deals this year. Some 77% of men say they plan to shop over Black Friday and Cyber Monday, versus 71% of women.
Despite the mere 6% difference between the genders, men are expected to spend nearly double that of women, budgeting an average $626.44 compared with $342.50 for women.
Gen X is livin’ large
Of the generations, Gen X plans to spend $592.83 on Black Friday and Cyber Monday. That’s higher than the average $560.17 those in Gen Y says they’ll spend in 2018 and more than double the $247.92 reported by baby boomers.
Gen X may plan to spend big on Black Friday and Cyber Monday, but more members of Gen Y say they’ll open their wallets over the retail holiday. Roughly 87% of Gen Y says they’ll buy something on Black Friday or Cyber Monday, versus 79% of Gen X and only 55% of boomers who say the same.
Couples plan to spend more
At 78%, those who are married or in a domestic partnership are more likely than other relationship statuses to spend this Black Friday. This year, couples say they plan to spend an average $535.81.
Those who’ve never married are the next group most likely to splurge, with 73% saying they expect to spend an average $468.40, followed by those who are separated, of whom 71% expect to spend an average $406.05. Rounding out relationships are 61% of divorcees who expect to spend $334.23 and 50% of widows who expect to spend $182.65.
It pays to be an only child
When it comes to families, 84% of parents with one child say they plan to spend $647.37 over the extended retail holiday. It’s not the highest amount people are planning to spend — that mantle is held by those with three kids at $696.85 — but it could mean there’s more money to go around with fewer siblings taking your share.
Paying the rent means less money for shopping
How much you’ll dole out over Black Friday and Cyber Monday may come down to whether you rent or own. About 71% of renters say they plan to spend an average $275.32. Compare that with the 73% of homeowners who plan to spend an average $556.69 this retail holiday.
Perhaps not surprisingly, 83% of those who still live with family say they’ll drop close to double the amount that renters plan to spend — a high $611.94.
Work hard, spend hard
People with full-time jobs say they’re all in on Black Friday 2018, with 85% expecting to spend an average $734.05 on the big sales. Students are just as likely to take advantage of Black Friday sales as those with full-time jobs (85%), but they’ll spend about 60% less — or an average $296.50.
Wisconsin to spend a lot of cheddar
It sounds like those in and around the Great Lakes might have the deepest reservoirs of cash, with Wisconsinites saying they plan to milk Black Friday sales for all they’re worth at an average $1,392.60 each. The folks from America’s Dairyland are followed by Texans ($1,171.91) and New Yorkers ($878.71).
While those from Wisconsin are expected to spend the most on average, it’s New Yorkers who top the list of those who plan to shop the sales, with 85% saying they’ll buying something, followed by Illinois (83%) and California (80%).
Do you regret your shopping spree? You’re not alone!
An estimated 52% of people have purchased something on sale that they later regretted. The average amount spent per item was $1,006.94, totaling a whopping $132.7 billion in remorseful discounted purchases in just the past year.
Gender Men (58%) are more likely than women (48%) to regret a shopping purchase. On average, women regret purchases of about $287.24, while for men, the amount is a staggering $1,589.16.
Generation Of the generations, baby boomers regret the highest amount of purchases — an average of $2,181.37. Compared that to Gen Y’s $713.50 and Gen X’s $693.58 in regretted purchases. Almost 1 in 3 Gen Yers — or 64% — have purchased something they later regretted, compared with 54% of Gen X and 37% of boomers.
Household income When it comes to household income, those with lower incomes tend to be less likely to purchase sale items they regret. And when they do, they are more likely to spend less per item compared to those with higher incomes.
Household income
Likelihood of sales purchase regret
Amount spent per purchase
$0 to $25,000
41%
$192.21
$25,000 to $50,000
46%
$656.07
$50,000 to $75,000
52%
$564.60
$75,000 to $100,000
57%
$1,452.36
$100,000 to $150,000
63%
$774.60
$150,000 to $300,000
79%
$3,109.83
$300,000+
65%
$1,840.18
Census Bureau monthly retail trade stats
Total adjusted retail sales last November were $435.5 billion. That’s a 7.0% increase from November 2016 ($408.1 billion).
November total retail sales have grown by $94.39 billion compared to a decade ago — to $453.5 billion in November 2017 from $341.1 billion in November 2007.
The average growth in retail sales for November each year since 2010 (after the financial crisis) is 4%.
Projected total retail sales for November this year are estimated to be $466.01 billion, according to finder.com.
Americans are expected to spend about $61 billion over the Black Friday and Cyber Monday weekend — or 13.09% of November’s total forecast sales.
Source: finder.com; census.gov
Methodology
We calculated these figures from a survey of 2,089 American adults commissioned by finder.com and conducted by global research provider Pureprofile in November 2018.
We included only states with 35+ respondents — an accurate sample size — in this analysis.
This year Black Friday falls on November 24, 2017. As the biggest shopping day in America, it’s sure to cause a rush with heavy discounts and one-off deals.
In fact, Americans plan to spend $59.57 billion on Black Friday and Cyber Monday purchases this year alone.
Do you regret your shopping spree? You’re not alone
Sales regret
An estimated 43.5% of us have purchased something on sale that they later regretted. The amount we spent for each item averaged $431, totaling a whopping $46 billion in regretful discounted purchases over the past year.
Type of sale purchases
The types of items people are most likely to purchase on sale and later regret are technology or electronics (30.2%), followed by clothing and accessories at 23.4% and household items at 14.7%.
Other categories include food and drink at 6.5%, shoes at 5.1%, music at 4.4%, cosmetics and fragrances at 4.3% and literature at 2.2%.
The average spent per sale item on technology and electronics was $285, on clothing and accessories was $87 and on household items was $244.
Gender Though women (44.3%) are more likely than men (42.7%) to purchase items on sale that they later regret, men ($526) tend to spend more per item on their regretful purchases than women ($343).
Generation Millennials lead the generations in purchasing sale items they later regret. More than half of all millennials (51.3%), 45.9% of Gen X and 36.0% of baby boomers have made sale purchases they regret.
But when it comes to the amount spent, millennials appear to be the most conservative generation. Millennials spent an average of $236 per sale item they regretted, followed by baby boomers at $413 and Gen X at $585.
Household income Generally, households with lower incomes are less likely to purchase sale items they regret. When they do, they tend to spend less per item compared with those at higher incomes.
Household income
Likelihood of sales purchase regret
Amount spent per purchase
$0 to $25,000
39.8%
$339
$25,000 to $50,000
42.1%
$303
$50,000 to $75,000
47.4%
$326
$75,000 to $100,000
48.8%
$568
$100,000 to $150,000
44.8%
$520
The psychology of sales
Our study finds that 65.2% of people have purchased an item on sale that they wouldn’t have purchased otherwise. The average amount spent per item was $641.
Gender As with sale regrets, women (68.2%) have a higher likelihood of purchasing items on sale that they wouldn’t have purchased at full price. In comparison, men sit at 62.0%.
Women spent an average of $412 on such items, while men spent an average of $903.
Generation Once again, millennials are more likely to purchase an item on sale that they wouldn’t have purchased otherwise, but they spent less per item. Three in four millennials (76.0%), 65.7% of Gen X and 57.5% of baby boomers have made such purchases.
Millennials spent an average of $499, baby boomers spent $677 and Gen X spent $716 per item.
How long do we hold off buying? During the lead up to the big annual mega sales of Black Friday and Cyber Monday, it’s common to hold off spending in anticipation. An estimated 117 million American adults (47.8%) deferred dropping dollars on clothing, electronics, major appliances and furniture while waiting for the release of Black Friday and Cyber Monday deals. Better safe than sorry, right?
Of those hanging out to see the bargains, a one- to two-month wait is the most common (14.7%), followed by a few weeks (13.8%), three to six months (9.8%) and a patient seven to eleven months (3.7%). Some 5.9% of us are willing to wait an entire year!
Census Bureau monthly retail trade stats
Total retail sales last November was $416.1 billion, that’s a 5.0% increase from November 2015 ($396.2 billion).
November total retail sales have grown by $74.3 billion compared to a decade ago ($341.8 billion in November 2007 to $416.1 billion in November 2016).
Average growth in retail sales for November each year since 2010 (after the financial crisis) is 4.6%.
Projected total retail sales for November this year is estimated to be $435.3 billion, according to finder.com.
Americans are expected to spend about $60 billion across the Black Friday and Cyber Monday weekend, that’s 13.7% of the total November forecasted sales for the month.
How many of us are planning on purchasing this year?
While 117 million of us are eagerly waiting to see what’s on offer come November 24, an estimate of more than 108 million American adults (44.1%) are confident that they’ll be parting with their cash over Black Friday and Cyber Monday sales this year. But how does that translate by demographic?
Gender
A higher proportion of women intend to spend money on Black Friday sales this year (46.5%) compared with men (41.6%).
Gender
Plans to spend money
Doesn’t plan to spend money
Women
46.5%
53.5%
Men
41.6%
58.4%
Source: finder.com
Generation
Predictably, the younger you are, the more likely you’re going to splurge this Black Friday and Cyber Monday. This year, 61.9% of millennials plan to spend money, followed by 49.5% of Gen X and 27.0% of baby boomers.
State
Of qualifying states, Georgia came in first of those planning to spend (52.9%), followed by Wisconsin (51.2%) and Illinois (50.7%).
Household income
Interestingly, those with an annual household income of $50,000 to $75,000 intend to spend the most on upcoming sales compared with any other income bracket, while those earning between $150,000 and $300,000 top the list for least likely to spend.
Marital status
Not surprisingly, singles plan on treating themselves the most (51.6%), followed by those married or in a domestic partnership (43.9%), those separated (41.2%), divorcees (33.5%) and widows (26.9%).
Marital status
Plans to spend money
Doesn’t plan to spend money
Divorced
66.5%
33.5%
Married or domestic partnership
56.1%
43.9%
Separated
58.8%
41.2%
Single, never married
48.4%
51.6%
Widowed
73.1%
26.9%
Source: finder.com
For all media inquiries, please contact:
Chelsea Wells-Barrett, PR, Media Relations and Communications
Richard Laycock is Finder’s insights editor after spending the last five years writing and editing articles about insurance. His musings can be found across the web including on MoneyMag, Yahoo Finance and Travel Weekly. When he’s not doing deep dives on data, he is testing the quality of cocktails in his newfound home of New York. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 Certification in General Advice for Life Insurance.
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What can I do to be cool?
Hi Patrick,
Thanks for getting in touch! You are cool in your own unique way. Don’t feel like you have to try hard to please everyone.:) You do you! :)
Cheers,
Nikki