Black Friday and Cyber Monday are some of the biggest online shopping events of the year. Industry studies show this holiday season will see a smaller sales increase than in 2021.
In 2022, an estimated 141 million Americans plan to shop during Cyber Week, according to research from Finder. But many companies -- such as Walmart and Target -- are starting Black Friday deals early.
Here are some statistics on how Black Friday and Cyber Monday may look in 2022.
1. Black Friday sales to increase between 6% and 8% over 2021
The National Retail Federation (NRF) predicted holiday spending will be healthy in 2022, despite inflation. NRF expects retail sales to grow 6% to 8% over November and December sales in 2021. Holiday sales grew 13.5% in 2021 over 2020, shattering records.
Even though the holiday retail sales won't increase as much, it still is higher than the average increase of 4.9% reported over the last decade. NRF predicted 2022 holiday retail sales will be between $942.6 billion and $960.4 billion.
An estimated 141 million Americans plan to shop during Cyber Week.
2. Generation Z are the top Black Friday shoppers
Seventy-five percent of Gen Z planned to shop Black Friday sales, according to the Finder survey. Eighty-four percent of Gen Z also felt that Black Friday sales are a good value.
However, Gen Z planned to spend the second least on Black Friday at $365 per person, followed only by Generation X planning to spend less than $345 per person.
3. 69% of people will shop online for Black Friday
In 2020, online shopping during Black Friday increased as more people saw the convenience of shopping from their own homes. Online Black Friday shopping will see a 33% increase compared to 2021, according to a Drive Research study.
About 32% of people still plan to shop Black Friday deals in person, which is a decrease of 9% from 2021. The biggest online shoppers are millennials and Gen Z. Females also tend to shop more online during Black Friday.
4. 64% of people will shop on Cyber Monday
Cyber Monday -- or the Monday following Thanksgiving -- will also see an increase in shoppers, with 64% of people planning to shop. This is a 42% increase from 2021, according to the Drive Research study. Cyber Monday is expected to bring in more revenue compared to Black Friday, with Adobe predicting $10.7 billion and $8.9 billion, respectively.
Female consumers are also more likely to shop the Cyber Monday sales than male consumers.
5. 42% of Black Friday purchases came through smartphones in 2021
E-commerce continues to grow, and mobile devices are becoming a vital tool. More than 42% of Black Friday revenue came from smartphones in 2021 – an increase of 2% from the previous year, according to Adobe.
Smartphones are used for more than purchasing as people check local inventories, compare prices, pay for their purchases with digital wallets and find retail locations.
