Consumer Behavior

Rising prices prompts consumers to change up holiday buying

Photo by istock.com

December 7, 2022

Well more than half of Cyber Weekend shoppers, 87%, said increasing prices impacted holiday shopping, with 19% describing it as "significant," and over one third, 35%, spending less than last year due to less disposable income, the potential of a recession and not seeing as many good deals.

Those are top findings from Numerator's tracking of purchase data and buyer surveys to determine shifts in consumer behavior during the Black Friday and Cyber Weekend holiday shopping time frame.

Additional findings include:

• 41% of consumers did most or all of their Cyber Weekend shopping online, citing convenience (62%), the avoidance of large crowds (46%) and better deals (39%) as reasons for choosing online over in-store.
• Black Friday was the winner of Cyber Weekend as 88% of Cyber Weekend shoppers shopped on Black Friday, followed by Cyber Monday (50%) and the Saturday after Thanksgiving (45%).
• 44% of Black Friday shoppers spent more than $100 and 22% spent over $200.
• The average Black Friday order contained 4.9 items, with an average price per item of $25.96.
• Black Friday buyers shopped multiple times throughout the day, with 60% making two or more purchases and 15% making five or more purchases.
• Within tracked retailers, Best Buy saw the largest average price per item ($168.47), followed by Kohl's ($34.97) and Amazon ($33.31).