Why consumers are spending less for 2023 Holiday Shopping
In the upcoming Black Friday 2023, it's projected that a whopping 68% of consumers will choose to shop online for their holiday deals and 66% on Cyber Monday.
According to a new online survey about holiday shopping statistics by Drive Research, it's a substantial percentage that only highlights the continued shift towards a more convenient and flexible shopping experience.
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%), electronics (73%), health and beauty products (49%), toys (48%) and household appliances (44%) will be the top in-store purchases on Black Friday 2023.
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%) When entering a store on Black Friday, 45% of people will wait less than 30 minutes before exiting 30 minutes is the cut-off time for many consumers when it comes to waiting in line to enter a store (45%) Online shopping is gaining momentum, with an estimated 2.5 times more people opting for digital purchases over physical store visits in 2023.
This figure represents a substantial shift in consumer behavior and highlights the growing preference for the convenience…
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