Browse Definitions :

Getty Images/iStockphoto

6 Black Friday statistics for 2023

Black Friday and Cyber Monday are some of the biggest online shopping events of the year. Industry studies show this holiday season will increase over 2022 sales.

Cyber Week is one of the biggest shopping weeks of the year with Black Friday, Small Business Saturday and Cyber Monday deals.

Businesses are getting creative with online deals and using social media to help drive traffic to websites and make purchases directly from social platforms. TikTok traffic to websites is supposed to grow, according to a study from Adobe.

In 2023, 132 million Americans plan to shop during Cyber Week, according to research from Finder. But many companies -- such as Walmart and Target -- have started Black Friday deals early.

Here are some statistics on how Black Friday and Cyber Monday may look in 2023.

1. Holiday sales to increase between 7% and 9% over 2022

The National Retail Federation (NRF) predicts holiday spending will be healthy in 2023, despite inflation and elevated interest rates. NRF expects retail sales to grow 3% to 4% over November and December sales in 2022. NRF predicts holiday sales to be between $957.3 billion and $966.6 billion, which is an increase from the $929.5 billion in sales in 2022.

Another NRF study predicts consumers are to spend an average of $875 on gifts, food, decorations and other seasonal items. This is around $42 more than consumers planned to spend in 2022. This is similar to the average holiday budget spent over the past five years.

Learn how businesses can use technology to fight inflation and be prepared for the increase in sales this holiday season.

An estimated 132 million American adults plan to shop Black Friday this year.
Finder'Black Friday Statistics 2023'

2. Gen Zers are the top Black Friday shoppers

Sixty-eight percent of Generation Z plans to shop Black Friday sales, according to the Finder survey. Although they are most likely to shop the Black Friday sales, Gen Zers plan to spend the least on Black Friday at $357 per person, followed by baby boomers, who plan to spend around $364 per person.

Businesses trying to reach Gen Z should check out various tech channels and use digital marketing, such as marketing videos, to promote products and connect. You can also learn more about generational marketing here.

3. 82% of people plan to shop during Cyber Week 2023

Online shopping has increased for Black Friday sales as more people saw the convenience of shopping from their own homes. Around 68% of people plan to shop online for sales rather than in person, with 27% planning to shop in-store, according to a Drive Research study. This is a 16% decrease from the 2022 numbers.

According to the same study, top planned purchases during Black Friday sales include clothing and accessories (82%) and electronics (73%).

Females are more likely to shop Black Friday sales, but men are likely to spend more on Black Friday purchases, according to Finder.

Around 35% of people plan to start their Black Friday shopping earlier, which includes shopping on Thanksgiving. This is an increase of 13% from 2022.

4. 71% of people will shop on Black Friday and Cyber Monday

Cyber Monday -- or the Monday following Thanksgiving -- will also see an increase in shoppers, with 6.1% more people planning to shop over 2022, according to a study from Adobe. The Adobe survey also predicts that Cyber Monday will bring in more revenue compared to Black Friday, with $12 billion and $6.6 billion, respectively.

Cyber Week, which starts on Thanksgiving and lasts through Cyber Monday, is expected to bring in 16.8% more revenue than last year according to Adobe.

5. 51.2% of Black Friday purchases predicted to come through mobile devices in 2023

E-commerce continues to grow, and mobile devices are becoming a vital tool.

2023 is predicted to be the biggest year for e-commerce and purchases through mobile devices. Mobile device purchases will be higher than desktop purchases this season, according to Adobe. A record $113 billion is predicted to be spent this holiday season, which is a growth rate of 13.7% over 2022. 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.

Adobe predicts this trend will happen throughout 2023 with total expenditures through mobile devices totaling around $470 billion compared to 2022’s overall $420 billion. Having a mobile-friendly website is vital for all businesses to keep up with consumers' shopping habits.

6. Embedded finance services will increase

Embedded finance services -- such as buy now, pay later (BNPL) and buy online, pick up in-store (BOPUS) -- are expected to be a large draw for consumers. Adobe said BNPL will reach a forecasted $1.57 billion during Cyber Week 2023.

Finder said consumers will consider stores with BOPUS options for last-minute purchases. Their survey also found 54% of shoppers are more likely to shop at stores with BOPUS on Black Friday.

Both options add convenience for consumers.

Dig Deeper on Marketing and customer experience

Networking
Security
  • cloud security

    Cloud security, also known as 'cloud computing security,' is a set of policies, practices and controls deployed to protect ...

  • privacy impact assessment (PIA)

    A privacy impact assessment (PIA) is a method for identifying and assessing privacy risks throughout the development lifecycle of...

  • proof of concept (PoC) exploit

    A proof of concept (PoC) exploit is a nonharmful attack against a computer or network. PoC exploits are not meant to cause harm, ...

CIO
  • data collection

    Data collection is the process of gathering data for use in business decision-making, strategic planning, research and other ...

  • chief trust officer

    A chief trust officer (CTrO) in the IT industry is an executive job title given to the person responsible for building confidence...

  • green IT (green information technology)

    Green IT (green information technology) is the practice of creating and using environmentally sustainable computing resources.

HRSoftware
  • diversity, equity and inclusion (DEI)

    Diversity, equity and inclusion is a term used to describe policies and programs that promote the representation and ...

  • ADP Mobile Solutions

    ADP Mobile Solutions is a self-service mobile app that enables employees to access work records such as pay, schedules, timecards...

  • director of employee engagement

    Director of employee engagement is one of the job titles for a human resources (HR) manager who is responsible for an ...

Customer Experience
  • digital marketing

    Digital marketing is the promotion and marketing of goods and services to consumers through digital channels and electronic ...

  • contact center schedule adherence

    Contact center schedule adherence is a standard metric used in business contact centers to determine whether contact center ...

  • customer retention

    Customer retention is a metric that measures customer loyalty, or an organization's ability to retain customers over time.

Close