Cyber Week includes some of the biggest holiday shopping events of the year. From Black Friday to Small Business Saturday to Cyber Monday, many stores offer huge discounts that draw in thousands of customers all Thanksgiving weekend long.
Recently, our market research company launched our 4th annual Black Friday survey. We polled over 1,000 consumers across the U.S. to learn more about their holiday shopping habits, preferences, and attitudes surrounding Cyber Week 2023 – plus how it compares to years past.
Top Black Friday statistics for 2023 include:
- 82% of people plan to shop during Cyber Week 2023
- 2.5X more people will shop online for Black Friday deals than those shopping in person
- In 2023, more shoppers are planning to participate in Small Business Saturday (36%) than they are in-person Black Friday shopping (27%)
- Amazon, Target, and Walmart will be the most popular places to shop during Black Friday weekend
- In 2023, 78% of holiday shoppers plan to spend the same or less money than last year
- Clothing and accessories (82%) and electronics (73%) will be the top purchases during Black Friday weekend
- 35% of people will start their Black Friday shopping on Thanksgiving 2023 – a 13% increase from 2022
- Over 1 in 10 shoppers will wait over 2 hours to enter a store on Black Friday (11%)
For further analysis, we broke down the data in the following ways:
General Statistics | Spending | Shopper Habits & Preferences | Product Purchases | Trends | Demographics
General Black Friday Statistics
1. 82% of people plan to shop during Cyber Week 2023
According to our survey, most respondents plan to take part in Cyber Week 2023 compromising Black Friday (both in-person and online), Small Business Saturday, and Cyber Monday.
2. 2.5X more people will shop online for Black Friday deals than those shopping in person
In 2023, 68% of people will shop online for Black Friday, while only 27% will physically shop at a brick-and-mortar store – a 16% decrease from 2022. It’s a substantial percentage that only highlights the decline of the Black Friday “experience.”
3. 18% of consumers will not shop on Black Friday, Small Business Saturday, or Cyber Monday
According to our survey, of those who do not plan to participate in Cyber Week 2023, most reported not liking crowds (52%) as the reason – a 12% decrease from 2022.
Other reasons for forgoing Black Friday weekend shopping included:
- There is nothing I’m interested in buying (22%)
- I don’t want to spend money (16%)
- I don’t like shopping (16%)
- It can be dangerous (12%)
- There are no good deals (11%)
- It takes attention away from spending time with loved ones (10%)
- It is a scam (8%)
4. 79% of consumers agree retail locations should be closed on Thanksgiving
In 2011, retail locations like Walmart and Target started opening at midnight. It wasn’t long before stores started opening their doors earlier and earlier – some even opening at 2 PM on Thanksgiving Day.
This trend was stopped in its tracks in 2020 as the pandemic forced many stores to close on Thanksgiving and limit holiday shopping to Friday only.
As in-person shopping is back to normal it begs the question, “Should retail locations stay closed on Thanksgiving?” Our survey revealed that 79% of consumers agree they should remain closed.
5. Target and Walmart will be the most popular places to shop in person on Black Friday 2023
Of the 27% of consumers who will shop in person on Black Friday 2023, most will visit Target (67%) and Walmart (66%).
Other top in-person Black Friday shopping destinations included:
- Kohl’s (41%)
- Shopping malls (38%)
- Macy’s (37%)
- Best Buy (36%)
- Old Navy (29%)
- Marshalls (25%)
- Costco (24%)
- Home Depot (24%)
- TJ Maxx (24%)
- Local businesses (23%)
6. Amazon, Target, and Walmart will be the most popular places to shop online during Cyber Week 2023
Our Amazon is poised to be the most favored online shopping destination, with a substantial 88% of shoppers planning to visit during Black Friday weekend. Following behind are Target (55%) and Walmart (51%) as other popular online retailers.
Other top online shopping destinations for Cyber Week included:
- Kohl’s (33%)
- Best Buy (30%)
- Macy’s (26%)
- Old Navy (21%)
- Costco (21%)
- Sephora (20%)
- Dick’s Sporting Goods (17%)
- Local businesses (17%)
- Home Depot (16%)
- eBay (14%)
7. Over 1 in 4 people have been pushed or shoved by other Black Friday shoppers (26%)
The fact that over a quarter of people (26%) have experienced being pushed or shoved by fellow Black Friday shoppers is a realistic reminder of the intense and sometimes chaotic nature of this shopping event. Additionally, other respondents have gotten into a verbal altercation (7%) and a physical altercation (3%) with other shoppers.
8. As many as 62% of people think that Black Friday is a scam
Black Friday Spending Statistics
9. 23% of people will spend $1,000 or more on holiday shopping this year
It’s the most expensive time of the year. 23% of shoppers plan to spend $1,000 or more on holiday spending in 2023 – a 15% increase from Black Friday 2022.
Other respondents indicated they would spend…
- Less than $200 (13%)
- $200 to $399 (18%)
- $400 to $599 (22%)
- $600 to $799 (13%)
- $800 to $999 (9%)
10. Only 2% of consumers don’t plan to spend any money on holiday shopping in 2023
Looks like holiday spirits will be high in 2023. Only 2% of respondents said they're planning to skip spending on holiday shopping, according to our survey. It's safe to say that most of us are gearing up for a festive season full of shopping and celebration, although economic uncertainties may point to shoppers spending less.
11. Only 22% of consumers have plans to increase their holiday shopping budgets from previous years
This statistic signals a notable shift in consumer behavior, suggesting a more cautious approach towards holiday expenses.
As a result, businesses and retailers might need to adapt their strategies to cater to this evolving consumer sentiment, focusing on value-driven offerings and budget-friendly options to capture this sizable market segment.
12. Rising costs of living (78%), increasing costs of groceries (67%), and high inflation (60%) are among the top reasons people are spending less on holiday shopping in 2023
A clear picture emerges as to why people are tightening their purse strings for holiday shopping.
These insights collectively highlight the significant impact of economic factors on consumer behavior, emphasizing the need for businesses to offer cost-effective solutions and value-driven options to cater to this financially cautious consumer base.
Other respondents indicated they are spending less on holiday shopping because…
- Rising interest rates (25%)
- Having fewer people to shop for (19%)
- Job uncertainty (17%)
- Student loan repayments (13%)
13. Shoppers spent $9.12 billion online during Black Friday in 2022
As our research shows, Black Friday has seen a shift towards online shopping in recent years. In fact, shoppers spent a staggering $9.12 billion online during Black Friday in 2022. This online spending figure is a testament to the growing influence of e-commerce on major shopping events. Retailers often offer exclusive online deals, and consumers increasingly choose the convenience of digital shopping.
Black Friday Consumer Purchasing Habits & Preferences
14. 35% of people will start their Black Friday shopping on Thanksgiving 2023 – a 13% increase from 2022
Despite, most people agreeing that retail locations should be closed on Thanksgiving (79%), over one-third of our respondents revealed that plan to start their Black Friday shopping on Turkey Day this year (Thursday, November 23rd 2023).
More specifically, here are the times on Thanksgiving people anticipate starting their Black Friday shopping:
- Thursday between 3 PM to 6 PM (15%)
- Thursday between 6 PM to 12 AM (20%)
Additionally, our survey revealed that 7% of people have skipped Thanksgiving dinner to go shopping on Black Friday.
15. Nearly 1 in 2 consumers start their in-person Black Friday Shopping before 10 AM (45%)
This statistic from our Black Friday survey underscores the early-bird nature of this shopping event, with a significant portion of shoppers eager to snag deals and discounts right at the crack of dawn.
More specifically, here are the times on Friday when people anticipate starting shopping in person:
- Friday between 12 AM to 5 AM (16%)
- Friday between 5 AM to 10 AM (29%)
- Friday between 10 AM to 2 PM (14%)
- Friday after 2 PM (6%)
16. When entering a store on Black Friday, 45% of people will wait less than 30 minutes before exiting
With many of the same deals and discounts being offered in-store and online, waiting in long lines on Black Friday seems to be a thing of the past.
According to our survey, 30 minutes is the cut-off time for many consumers when it comes to waiting in line to enter a store (45%). While fewer will wait 30 minutes to 1 hour (26%) and 1 to 2 hours (18%).
17. Over 1 in 10 shoppers will wait over 2 hours to enter a store on Black Friday (11%)
This finding highlights the level of dedication and determination among a notable portion of consumers when it comes to securing deals and discounts.
Retailers should be mindful of this willingness to wait, potentially implementing crowd management strategies to ensure a smooth and satisfactory shopping experience for all customers, even during peak times.
18. 18% of shoppers are willing to wait 1+ hours in a checkout line on Black Friday
However, most shoppers did not have this type of patience. Nearly half (48%) of respondents would only wait less than 30 minutes while others would wait 30 minutes to an hour (34%).
19. Promotions/sales (81%) and free shipping (80%) are consumers top purchasing factors for choosing where to shop on Black Friday weekend
In spite of these economic concerns, Cyber Week 2023 is anticipated to be a popular shopping period, with consumers seeking deals and discounts to make the most of their holiday budgets.
In fact, promotions/sales (81%) and free shipping (80%) will be the biggest driving factors for consumers when choosing where to shop.
In summary, factors that impact where consumers will shop on Black Friday weekend include:
- Promotions/sales (81%)
- Free shipping (80%)
- Availability of products (66%)
- Return/exchange policies (50%)
- Fast shipping times (46%)
- Online reviews (46%)
- Recommendations from family/friends (21%)
- Buy Now, Pay Later (BNPL) capabilities (15%)
- Store hours (12%)
20. The majority of shoppers are more likely to shop at stores that offer BOPUS (54%)
Buy online, pick up in-store (BOPUS) is the biggest trend to hit retail stores in years. It allows consumers to shop and pay for a brand’s products online, retail employees prepare the order, and when it's ready customers drive to the store and pick it up.
Again – the convenience and time savings are HUGE for today’s buyers.
Retail locations that offer this service for their Cyber Week deals are likely to see more business when compared to businesses that don’t offer in-store pickup.
In fact, our survey found that 54% of U.S. shoppers agree they are more likely to shop at stores that offer 'buy online, pick up in store' capabilities this Black Friday.
21. Most shoppers discover Black Friday and/or Cyber Monday deals through retailer websites (64%) and emails (58%)
This insight showcases the crucial role of digital channels in sharing information about discounts and promotions during these popular holiday shopping events.
Retailers should prioritize their online presence and email marketing strategies to effectively reach and engage their target audience.
Other ways shoppers become aware of Black Friday and/or Cyber Monday deals include:
- Retailer promotional social media ads (47%)
- Word-of-mouth recommendations from family/friends (39%)
- Online blogs/articles (33%)
- Retailer apps/push notifications (30%)
- Retailer organic social media posts (21%)
- Newspapers/magazines (21%)
- TV/radio (20%)
- Influencers (18%)
- In-store advertisements (15%)
22. 47% of shoppers agree shopping malls are important for their holiday shopping
Analysts at UBS projected that 40,000-50,000 American retail stores would shut down by 2027, signaling that U.S. malls are dying. And as our Black Friday 2023 survey has shown, the majority of consumers are doing their holiday shopping online this year.
However, interestingly enough, 47% of shoppers still agree that shopping malls are important for their holiday shopping. In fact, shopping malls were the 4th largest retail location in-person shoppers reported they’ll be visiting on Black Friday.
In contrast, 30% of shoppers do not agree shopping centers are important for gift shopping, and 20% neither agree nor disagree.
23. 15% of people admit to shopping in their pajamas on Black Friday
It's amusing to learn that 15% of individuals openly confess to participating in Black Friday shopping while comfortably dressed in their pajamas, according to our survey.
This statistic adds a light-hearted touch to the bustling nature of this popular shopping day, highlighting the diverse range of shopping styles and preferences among consumers.
Black Friday Product Purchases
24. Clothing and accessories (82%) and electronics (73%) will be the top in-store purchases on Black Friday 2023
This data can be crucial for retailers and businesses in planning their Black Friday promotions and inventory management strategies, ensuring they are well-prepared to meet the demand for these specific product categories in physical stores.
Other in-person Black Friday shoppers indicated they would be purchasing…
- Health and beauty products (49%)
- Toys (48%)
- Household appliances (44%)
- Sport and leisure equipment 32%
- Interior home design products and accessories (31%)
- Pet items (30%)
- Arts and crafts (30%)
- Books (29%)
- Furniture (24%)
- Outdoor and gardening tools (22%)
- Fitness equipment and accessories (20%)
- Office and business items (15%)
25. Clothing/accessories (79%) and electronics (66%) will be the top online purchases for Cyber Week 2023
Similarly to in-person Black Friday shopping, many consumers are planning to purchase clothing/accessories and electronics either online on Black Friday or Cyber Monday.
Other online Cyber Week shoppers indicated they would be purchasing…
- Health and beauty products (44%)
- Toys (44%)
- Household appliances (36%)
- Books (32%)
- Pet items (29%)
- Interior home design (26%)
- Arts and crafts (24%)
- Sport and leisure equipment (23%)
- Outdoor/gardening tools and equipment (20%)
- Furniture (19%)
- Fitness equipment and accessories (18%)
- Office and business items (12%)
26. Clothing/accessories (54%) and arts & crafts(46%) will be the top purchases on Small Business Saturday 2023
This information highlights the significance of supporting local businesses and artisans during this event, emphasizing the popularity of these particular product categories among consumers.
Small businesses in these sectors should ensure they are well-prepared to cater to the expected demand – especially being that more shoppers are planning to participate in Small Business Saturday (36%) than they are in-person shopping for Black Friday (27%).
Other Small Business Saturday shoppers indicated they would be purchasing…
- Interior home design products (35%)
- Books (34%)
- Health and beauty products (33%)
- Toys (25%)
- Pet items (20%)
- Outdoor/gardening tools and equipment (17%)
- Household appliances (13%)
- Furniture (13%)
- Electronics (11%)
- Sport and leisure equipment (10%)
- Office/business items (10%)
- Fitness equipment and accessories (7%)
27. In-person Black Friday shopping will continue to see a decline in shoppers in 2023
For the first time since our inaugural study in 2020, in-person Black Friday is projected to be the least popular method of shopping, garnering the interest of only 27% of respondents – a 16% decrease from 2022 and a substantial 23% decline from 2021.
Whereas, Small Business Saturday emerges as the new frontrunner, with 36% expressing an interest in supporting local establishments on this dedicated shopping day.
28. Target emerges as the new front-runner for in-person shopping on Black Friday 2023
In past iterations of our survey, Walmart held the top spot where consumers chose to shop in person on Black Friday. However, according to our 2023 data, 67% of people plan to visit Target on Black Friday – a 16% increase from 2022.
It’s important to note, Walmart will also host a majority of shoppers with 66% – a 6% increase from 2022.
29. Shoppers are becoming more impatient, with fewer wanting to wait in long Black Friday lines
According to our 2023 Black Friday survey, 26% of respondents expressed a willingness to wait in line to enter a store for up to an hour. Interestingly, this marks a 19% decrease from the figures reported in our 2022 survey.
This shift in consumer behavior suggests a growing preference for quicker and more efficient shopping experiences, potentially influencing retailers' strategies for managing queues and crowd flow during the event.
30. Amazon will see more online shoppers during Black Friday weekend than in past years
88% of respondents plan to shop on Amazon during Cyber Weekend – a 10% increase from 2022.
For further context, last year independent retailers selling through Amazon reported total sales topping $1 billion across the four-day shopping period. With numbers anticipated to rise this year, it only showcases the e-commerce giant's increasing dominance in holiday spending.
By Gender
- Females (34%) are more likely to report they will spend less money on holiday shopping this year than males (23%)
- Males (28%) are more likely to report job uncertainty as a reason why they are spending less on holiday shopping this year than females (15%)
- Males are more likely to shop in-person at Walmart (69%), Target (58%), and Best Buy (50%) for Black Friday, while females are more likely to shop in-person at Target (72%), Walmart (66%), and Kohl’s (43%)
- 1 in 2 females will only stand in a line to enter a store if it is under a 30-minute wait time
- Females (53%) are more likely to consider a store’s return/exchange policies when choosing where to shop on Black Friday weekend than males (44%)
By Age
- Our Cyber Monday study shows Gen X is slightly more likely to shop on Cyber Monday (72%) than they are to shop online for Black Friday (69%) in 2023
- Compared to other generations, Baby Boomers are most likely to not shop during Cyber Week 2023 (36%)
- Millennials (24%) and Gen X are more likely to anticipate spending $1,000 or more this holiday season
- Over 1 in 3 Millennials predict they will spend more on holiday shopping in 2023 than they did in 2022 (34%)
- Gen X was the only generation to rank free shipping (83%) as the leading factor in choosing where to shop slightly over promotions/sales (81%)
By Household Income (HHI)
- Nearly 1 in 2 respondents with an HHI of $150,000 or more anticipate spending $1,000 or more on holiday shopping this year
- Respondents with a HHI of $25,000 to $34,999 (60%) and $100,000 to $149,999 (76%) were the only groups to be more likely to shop on Cyber Monday than online for Black Friday
- Those with higher HHI ($75K or higher) are more likely to do their in-person Black Friday shopping at Target, while those with lower HHI ($74,999 or lower) are more likely to shop at Walmart
Survey Background & Methodology
Figures in our Black Friday and Cyber Monday market research report are drawn from an online survey conducted by Drive Research to better understand consumers' holiday shopping preferences and purchasing behaviors. Drive Research is a national market research company based in Syracuse, NY.
The survey took up to 10 minutes to complete and included 19 questions. The survey received 1,044 responses from those who plan to shop during Cyber Weekend 2023. Fieldwork for the survey ended in October 2023.
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Emily Rodgers
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