15+ Black Friday and Cyber Monday Statistics for 2023
Whenever Black Friday and Cyber Week nears, businesses scramble to facilitate the increased volumes of visitors, traffic and overall hype accompanied by the great deals on offer.
We’ve compiled a list of the most relevant statistics relating to BFCM to present a picture of the real numbers and potential for profit during this period.
Black Friday and Cyber Monday have become a global phenomenon, with consumer attitudes converging and taking the potential of this economic phenomenon even further year-over-year.
Key Statistics Relating to BFCM (Black Friday and Cyber Monday) for 2023 - Editor’s Choice
- Men spent 47.9% more on their 2022 Black Friday ‘shopping spree’ compared to women
- Peak global sales reached $3.5 million per minute at 12.01 PM EST on Black Friday 2022
- Restaurants did particularly well during the 2022 Black Friday weekend, experiencing an increase of 23.3% YoY
- Toys were by far the most discounted item overall, reaching a deduction of 34.1% in price
- 73% of online purchases were made on mobile devices
Online sales in 2022 during Cyber Week reached a whopping, all-time high of $281 Billion in Global Sales.
According to data from Salesforce, online sales during this period reached a record-setting figure of $281 Billion, with U.S. figures making up $68 Billion which is 9% more compared to 2021.
Un-adjusted for inflation, in-store sales increased by 10.5% year-over-year (YoY) while online sales grew by 12.5% YoY during the weekend running November 24th to November 27th of 2022.
Data collected by Mastercard provides a clear picture of an increase in both online and in-store spending. Restaurants also did particularly well during the above mentioned period, experiencing an increase of 23.3% YoY.
Buy Online and Pick Up in Store (BOPIS) grew 9% globally Thursday the 24th through Sunday the 27th of 2022 compared to the first three weeks of November.
BOPIS is, according to the figures provided by Salesforce, drastically rising in popularity and an essential conversion point for a large number of customers during Black Friday and Cyber Week.
Throughout the 2022 Holiday Season, consumers spend a total of $1.14 trillion with U.S. consumers making up $270 billion of that figure.
These numbers, provided by Salesforce, show a drastic YoY increase in consumer spending during Black Friday, Cyber Week and Holiday period, showing increased buyer potential year after year.
Toys were by far the most discounted item overall, reaching a deduction of 34.1% in price on the 27th of November 2022, versus 19% in 2021.
Numbers released by Adobe show a drastic decrease in price of toys overall, followed by electronics at -23.9% and apparel at -15.4%.
Other items such as computers, appliances, televisions were reduced in price by 14.2%, 14%, 12.9% respectively and sporting goods and furniture by 7.5% and 5.9% respectively.
76% of consumers said that they’ve shopped over the 2022 Thanksgiving weekend, up 6% compared to last year.
A survey conducted by the NRF blew expectations out of the water with over 196.7 million consumers participating in the savings during Black Friday and the Thanksgiving weekend, over 30 million more than was forecast.
In-store shopping grew by 17% from 2021 while online shopping remained relatively similar, increasing only by 2% compared to 2021.
A report provided by the NRF shows a drastic increase in in-store shopping compared to 2021, possibly as the impact of COVID lessened even more. Online trends remained similar in terms of the ration between e-commerce and in-store purchases. Online purchases and in-store pickups have also seen an increase.
The average amount spent in the U.S. during Thanksgiving weekend on Holiday items was $325.44.
Online stores were the most popular amongst surveyees when paired against brick-and-mortar department stores, grocery stores, clothing stores and discount stores. Over 42% of surveyees purchased items online followed by 42%, 40%, 36% and 32% for the other four categories listed, respectively.
53% of online retail visits came from mobile devices during a period of Thursday the 24th to Monday the 28th of November 2022.
According to data provided by Queue-it, a preference for mobile devices such as smartphones and tablets for holiday purchases can be clearly defined and extrapolated from their wide reaching customer data sample.
Men spent on average $565 during Black Friday compared to $382 for women.
According to Black Friday spending statistics provided by Finder, men spent 47.9% more on their Black Friday ‘shopping spree’ compared to women.
Gen Z is the generation showing most interest in Black Friday prices with 68% saying they plan to take advantage of the savings.
Closely followed by Gen Y who are showing interest at 64% saying they plan to do the same, followed by Gen X at 42% and Baby Boomers at 30%.
Shopify reported an increase in sales of 19% compared to figures from 2021 during Black Friday and Cyber Monday weekend (21% on a constant currency basis).
According to Shopify’s figures, sales increased from $6.3 billion in 2021 to $7.5 billion, an increase of 19%.
Shopify also discovered that consumers are much more interested in long-term products that will last (76%) and that the majority are willing to shop around and look for the best discounts (84%).
During Black Friday, November 25th 2022, peak global sales reached $3.5 million per minute at 12.01 PM EST.
During the Holiday Season of 2022, Black Friday was still the day with the highest volume of sales according to Shopify’s statistics.
According to Shopify’s statistics, 73% of online purchases were made on mobile devices.
A shifting trend to mobile seems to be continuing with most users preferring to complete their transactions either on the go or when in the moment, browsing on their mobile devices. Desktop purchases made up only 27% of online sales.
Shoppers globally spent an average of $102.10 (or $104.80 on a constant currency basis) per order compared to $100.70 in 2021.
Numbers provided by Shopify show a steady increase of spending budget on a per order basis at the global level compared to holiday spending in 2021. Shoppers are willing to spend more overall and even commit to higher-ticket items in order to maximize savings.
I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.
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