Survey Reveals 19% of Consumers Plan to Shop on Black Friday
Survey Reveals 19% of Consumers Plan to Shop on Black Friday
As the holiday shopping season approaches, a recent GoDaddy survey indicates that only 19% of consumers plan to shop on Black Friday, reflecting the ongoing economic
As the holiday shopping season approaches, a recent GoDaddy survey indicates that only 19% of consumers plan to shop on Black Friday, reflecting the ongoing economic pressures from inflation and rising costs of living.
This year, many shoppers are expected to be more cautious with their spending, focusing on deals and discounts to stretch their holiday budgets further. Key Takeaways Almost 1 in 5(19%) of consumers intend to shop on Black Friday , a significant drop from previous years. 64% of consumers report
that inflation will impact their holiday spending. Retailers are concerned that discounts may not be enough to attract shoppers. The National Retail Federation predicts a 3% to 4% increase in holiday spending compared to last year.
Economic Pressures Affecting Consumer Behavior The survey by Invoice Home highlights that nearly two-thirds of U.S. consumers are feeling the pinch of inflation, influencing their holiday shopping plans. Many are opting to delay purchases or cut back on spending altogether.
Key findings include: Inflation Impact : 64% of consumers say inflation will affect their holiday spending. Delayed Celebrations : 11% plan to celebrate the holidays in 2025 due to high costs. Spending Cuts : 25% will not travel, and 24% will opt out of gifting altogether.
Retailers' Concerns Retailers are bracing for a challenging Black Friday, with many fearing that even significant discounts may not be enough to entice shoppers. The National Retail Federation (NRF) anticipates a modest increase in holiday sales , but spending is expected to slow due to economic uncertainty…
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