Holiday Shopping Trends: Spending Expectations and Retailer Concerns

Despite financial pressures, holiday shoppers in the US are planning to spend an average of $567 between Black Friday and Cyber Monday this year, a 13% increase from last year, according to a survey by Deloitte. Retailers have increased sales and deepened discounts to attract consumers affected by inflation and rising credit card rates. While consumers are feeling strapped for cash due to dwindling savings and growing credit card debt, they are still receptive to bargains and are likely to spend during Black Friday. The number of Black Friday shoppers and their budgets are growing, with toys, games, and hobby gear expected to see their best bargains since 2020. More than half of shoppers plan to take advantage of store bargains during Black Friday and Cyber Monday, and online purchases are expected to increase by 40% compared to 2019.