Black friday shopping How much are you overspending?
Some 35% of Americans often end up overspending because of early Black Friday deals
of Americans mostly men, overspent their limit by over $1000 last year
of shoppers plan to spend over $500 on Black Friday shopping this year
Black Friday is a major shopping event in the US, with Americans spending millions of dollars each year. Increasingly, Black Friday deals have started dropping several weeks ahead of the actual day itself. Piplsay (powered by Market Cube) surveyed 52,233 Americans to understand how this early shopping is redefining consumer trends. Retailers like Walmart, Target, Amazon, etc. can leverage this data in their decision making.
Black Friday is almost three weeks away, but America already seems to be on a shopping spree. Major retailers like Walmart, Target, and Amazon kicked off the holiday season early by announcing some jaw-dropping deals right at the beginning of November. Have these early surprises led to higher spending among American shoppers? Piplsay surveyed 52,233 Americans nationwide to understand how these changing trends are shaping the Black Friday phenomenon. Here’s a summary of what we found.
- 36% of Americans stay true to their shopping budget, despite the early deals
- 25-35-year olds overspent the most last Black Friday, followed by 18-24-year olds
- 23% of Americans don’t plan to shop this year, down from 32% in 2018
- 39% of men have increased their shopping budget this year compared to just 26% of women
- 9% of Americans are planning big-budget shopping of over $2000
- Laptops remain top shopping item for men this year, women mostly eyeing toys & books
- After Walmart, Best Buy and Target are the top go-to stores for men and women shoppers respectively
- 42% of 25-45-year olds to shop from Amazon this Black Friday
Black Friday Shopping Frenzy
Americans seem mostly divided when it comes to their Black Friday budget: 36% of them usually manage to stick to it, while a similar percentage of Americans always end up overspending. With such mind-boggling deals dropping all around them, who can blame shoppers for their extravagance? Not surprisingly, about 50% of Americans have increased their shopping budget this year, even if only slightly. But while it may look like the whole of America is gearing up for Black Friday shopping, a good 23% of Americans do not plan to spend a single penny.
Nearly 34% of Americans spent $500 over their budget on shopping last year, and most of that money went towards electronics. This year, however, toys and apparels seem to have overtaken electronics as top shopping preferences. While Laptops and tablets remain a favorite with men this year as well, women seem to be mostly eyeing good deals on toys and books. Online shopping is big this year as well, with about 19% of Americans planning to avoid the crowd and long queues. Notably, traditional stores such as Walmart and Target are just as popular for online shopping as well, though Amazon remains the king of the online world.
Survey Methodology: This Piplsay survey (powered by Market Cube) was conducted nationwide in the US in the month of November 2019. We received 52,233 responses from individuals aged 18 years or older