87% of Cyber Weekend Shoppers Felt Impacts of Inflation
Numerator, a data and tech company serving the market research space, has released early read purchase data for Black Friday 2022 and survey data for the full Cyber Weekend (Thanksgiving through Cyber Monday). Overall, 88% of Black Friday purchases were made for under $100, with the average spend per item at $26. In addition, Numerator’s Cyber Weekend survey (4,002 verified buyers as of Tuesday morning) revealed that 37% of consumers said they shopped more online in 2022 than in previous years and that inflation impacted the holiday shopping of nearly 9 in 10 consumers.
Black Friday Purchase Insights:
- Nearly half (44%) of Black Friday shoppers spent more than $100, with 22% spending more than $200.
- Black Friday buyers shopped multiple times throughout the day, with 60% making 2+ purchases and 15% making 5+ purchases.
- The average Black Friday order contained 4.9 items, with an average price per item of $25.96.
- Within tracked retailers, Best Buy saw the largest average price per item at $168.47, followed by Kohl’s ($34.97) and Amazon ($33.31)
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Cyber Weekend Survey Insights:
- Inflation impacted holiday shopping for nearly 9 in 10 consumers. 87% of Cyber Weekend shoppers said that rising prices have affected their holiday gift shopping, with 19% claiming a significant impact.
- The current financial climate is the primary driver in spending shifts. More than one-third (35%) of Cyber Weekend shoppers said they spent less this year, citing factors such as having less disposable income, not finding good deals, electing to buy fewer holiday gifts, and being financially cautious around an impending recession. Among the 19% of shoppers who say they spent more this year, the most common reason cited was rising prices.
- Black Friday was the most popular shopping day. Among those consumers who shopped over Cyber Weekend, 88% said they shopped on Black Friday (up from 81% who said the same in 2021), followed by Cyber Monday (50%), and the Saturday after Thanksgiving (45%).
- Cyber Weekend shoppers were more spontaneous this year. 78% of respondents said they planned ahead to shop on Cyber Weekend, down from 90% in 2021. Nearly 1 in 5 (17%) made the decision to shop on the day of the sale itself, compared to 8% of consumers in 2021.
- Consumers continue to shop from the comfort of their homes. This year, 41% of consumers said they did most or all of their Cyber Weekend shopping online, and more than a third of shoppers (37%) said they shopped more online and less in-store compared to Cyber Weekend 2021. Consumers cited convenience, avoiding large crowds, and better deals as the top reasons for choosing to shop online.
- Half of Cyber Weekend buyers also shopped on Amazon Prime Day. In addition to Amazon Prime Day in July 2022, several October deal events also pulled in Cyber Weekend shoppers, including Amazon Early Access Sale (36% of Cyber Weekend shoppers), Walmart Rollbacks & More (30%), and Target Deal Days (25%).
- The majority of Cyber Weekend shoppers are close to finishing their holiday shopping. Following their weekend purchases, 58% of shoppers say they are mostly or completely finished with their holiday gift shopping.
- The most common gift categories purchased were Apparel (67% of consumers), Toys & Games (51%), Electronics (46%), Home Goods (44%) and Beauty products (33%).
Early read purchase data is sourced from Numerator Insights (11/24/22 – 11/28/22). Survey results cover 11/24/22 through 7:00AM ET on 11/29/22 from 4,002 respondents. Full Cyber Weekend data will be available the week of December 5th.
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