Summary
Spending during Black Friday and Cyber Monday is expected to decrease for the first time in four years due to inflation and money concerns. A survey by Deloitte shows that shoppers plan to spend less during this period, with significant cutbacks expected from both low and high-income groups. Many consumers plan to use financing options like buy now, pay later, to help with their purchases.
Key Facts
- Black Friday spending is projected to fall by 4.3% compared to 2024.
- The survey by Deloitte includes responses from 1,200 Americans.
- 82% of consumers plan to shop during the Black Friday-Cyber Monday period, up from 79% in 2024.
- Shoppers are cutting back due to higher living costs and tighter finances.
- Both low-income (less than $50,000) and high-income ($200,000 or more) groups plan to reduce spending by 12% and 18% respectively.
- Middle-income earners ($100,000 to $199,000) plan to spend about 5% more.
- 64% of shoppers plan to use financing options, like "buy now, pay later," to help with their purchases.
- Retail sales increased by 0.2% in September, but growth is mainly due to spending by higher-income shoppers.
