Record Black Friday Predicted with 74% of Consumers Planning to Shop, as Cost-of-Living Crisis Drives Hunt for Bargains
Average Spend Around November Sales Events Is Expected to Increase Between 3% and 22% Versus 2022, Depending on the Country SurveyedConsumers Are Turning to November Sales Less for High-End Items and More to Cover Their Basic NeedsConsumers Expect a Minimum 30% Discount for a Good Black Friday DealBOSTON—With the rising cost of living continuing to pinch household budgets, 74% of consumers say they intend to take advantage of deals during November sales events this year—an increase of 7 percentage points versus 2022. Over the course of this Black Friday, Cyber Monday, and Singles’ Day, US consumers plan to spend the most ($460), followed by Switzerland ($390), and Germany ($385). What’s more, average spend is expected to exceed 2022—in some countries, by as much as 22%. This record consumer spending, while partially driven by year-over-year inflation, also reflects a growing focus on deal hunting as consumers shift December holiday shopping to November to benefit from bargains.