Young Shoppers Lead the Black Friday Charge

Trends and Insights

• Gen Z and Millennials Dominate Black Friday Shopping
• 40% of Gen Z and 32% of millennials plan to do most of their holiday shopping on Black Friday.

• The allure of Black Friday for younger shoppers is driven by exciting deals and social media hype.

• Gen Z Plans to Spend Less
• Despite their enthusiasm, Gen Z intends to spend 23% less this holiday season compared to last year.
• This is the biggest drop among all generations, a significant shift from the previous year when Gen Z planned to spend 37% more.

Economic Impact on Shopping Behaviors

• Financial Caution
• Higher prices and financial uncertainty are influencing shopping behaviors.

• Overall, consumers plan to spend 4% less on Black Friday than last year.

• K-Shaped Economy
• Wealthier consumers are spending more, while lower-income consumers are cutting back.

Intentional and Value-Driven Shopping

• Support for Small Businesses
• 77% of consumers prefer to shop at small businesses if prices are the same.
• Support for local businesses has increased by 8 percentage points compared to last year.

Gift Ideas and Shopping Methods

• In-Person Shopping Still Popular
• 72% of people get their gift ideas from physical stores rather than social media.
• More than half of the shoppers prefer traditional online search methods for holiday shopping.
• Only 9% are likely to use AI for finding gifts.

The Future of Shopping

• Traditional Methods Still King
• Despite the rise of AI, traditional methods remain popular for this holiday season.
• As AI grows, it may become more integrated into shopping habits in the future.