Black Friday and Cyber Monday shopping stats for 2023

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.

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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.

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However, the average man is handing over $565 at the sales compared to $382 for women.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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).

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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.

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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).

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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.

• Methodology

  Finder’s Consumer Confidence Index is an ongoing quarterly nationally representative survey, so far polling more than 10,000 American adults, asking questions relating to household finances. First collected October 4-19, 2022, with following iterations running between January 9 to February 17, 2023, April 11-20, 2023, July 6-18, 2023, and most recently, October 11-30, 2023.

  Our data is based on an online survey of 2,033 US adults commissioned by Finder and conducted by Qualtrics/SAP from October 11-30, 2023, with representative quotas for gender, age and states.

  We assume the 2,033 participants in our survey represent the US population of 260.9 million Americans who are at least 18 years old, according to the July 2022 US Census Bureau population estimate. This assumption is made at the 95% confidence level with a 2% margin of error.

  A full list of questions can be found on Finder’s Consumer Confidence Index.

  We define generations by birth year according to the Pew Research Center’s generational guidelines, though we’ve combined baby boomers and the Silent Generation into a single group for sampling ease:

  • Gen Z — any adults born post-1997
  • Gen Y — 1981–1996
  • Gen X — 1965–1980
  • Baby boomers — anyone born pre-1964

  We define geographical regions as defined by the US Census Bureau.

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).

This article originally appeared on Finder.com and was syndicated by MediaFeed.org.

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