Nov 7, 2023 - Business

Shoppers plan to treat themselves during Black Friday sales

Illustration of a bar chart made of presents.

Illustration: Shoshana Gordon/Axios

Black Friday and Cyber Monday sales aren't just about shopping for holiday gifts — 64% of consumers plan to treat themselves, according to a new Shopify-Gallup survey.

Why it matters: The all-important holiday shopping season can be make-or-break for retailers and consumers are feeling pressure from inflation.

By the numbers: The survey of 1,771 U.S adults found 71% of shoppers under 50 said they will buy items for themselves or their household compared to 55% of shoppers 50 and older.

  • 34% said they will probably stock up on everyday products including cleaning supplies, home improvement items, baby and beauty products during the sales.
  • And 13% of holiday shoppers said they plan on "only buying for themselves and their household and not buying any gifts at all."

Zoom out: The younger the shopper, the more likely they were to plan to take advantage of Black Friday and Cyber Monday sales, the survey found.

  • Cyber Monday also is poised to be bigger than Black Friday once again with 61% of shoppers reporting they are at least somewhat likely to shop on Cyber Monday compared to 41% on Black Friday.
  • 28% of shoppers aged 18-29 said they were definitely or very likely to shop on Black Friday.
  • For shoppers 65 and older, just 9% said they were definitely or likely shopping on Black Friday.

The big picture: The National Retail Federation is forecasting U.S. holiday sales will rise 3% to 4% for November through December, below last year's 5.4% growth.

  • The NRF's survey found consumers were planning to spend $875 on average on gifts, decorations, food and other key seasonal items, $42 more than last year.

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