Here’s how much the average shopper will spend this Black Friday

A new Deloitte study shows that consumers are willing to blow their budgets this BFCM (Black Friday-Cyber ​​Monday). With projected spending of $650 per shopper, the holiday shopping season is set to be a record-breaking one. According to Deloitte data, that’s a 15% increase compared to last year. This shows that consumers have big plans for Black Friday and want to buy lots of discounted items. Although many people plan to spend large sums of money, they are also financially stressed. 53% of survey respondents said they will use credit cards, compared to 35% in 2023. 29% also plan to use the “buy now, pay later” option when purchasing products.

Regardless of financial situation or demographic, all consumers are willing to spend more this year, with Generation Z spending the most. They increase their budget and try to find the best deals. In three years, from 2021 to 2024, there was an annual growth rate of 13.2% from Black Friday to Cyber ​​Monday. Generation Z buyers have seen a 25% growth rate in three years.
Brian McCarthy, principal of Deloitte Consulting, says this holiday season is a little shorter due to the late Thanksgiving season, so holiday shoppers will spend big on Black Friday. Online retailers are the first choice of shoppers this year for the first time, and these retailers are offering deals and promotions to attract customers.

Another survey by the ICSC forecasts a profit of $125 billion in the five days from Thanksgiving to Cyber ​​Monday. Two-thirds of consumers say they will spend their entire vacation over Black Friday weekend. 57% prefer bargains, 68% find out about prices before shopping.

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