Most shoppers are done buying gifts after the long Thanksgiving weekend
No need to worry about last-minute shoppers, since most people are done buying gifts by the time Cyber Monday rolls around.
RetailMeNot says nearly 70 percent of shoppers will complete all their holiday gift-buying between Black Friday and Cyber Monday.
Cyber Monday will be the biggest shopping day, with 56 percent of shoppers expected to buy gifts this day. This is up 17 percentage points from last year. Black Friday will be the second-busiest day, with 52 percent of shoppers doing their holiday shopping the day after Thanksgiving. It’s down from 53 percent from this time last year, RetailMeNot says.
While Cyber Monday is the most popular day, cyber shopping in general is going to be up. The survey says 51 percent of all consumers will be doing most of their shopping online at some point during the holiday weekend.
Spending is also going to be up this year. RetailMeNot says shoppers plan to shell out an average of $743 over the four-day weekend, up from $505 in 2016.
Some shoppers might not even wait until Black Friday, as 17 percent of shoppers (27 percent of millennials and 12 percent of other age brackets) will miss part of Thanksgiving with family and friends to go shopping for deals.
Top gifts to give this year
RetailMeNot says apparel is the No. 1 draw for shoppers this year, with 40 percent of purchases this weekend. Shoes are another 30 percent.
Technology is also a huge draw. Gaming consoles and games are expected to be 29 percent of purchases, while TVs will be 28 percent. Laptops and tablets will be another 25 percent of purchases over the Black Friday weekend.
Toys for kids are on about one-third of lists, while jewelry, restaurants and entertainment, and travel are less than 16 percent.
Instead of buying gifts, maybe consider not spending money altogether. Chances are you’re probably thinking it, and so are your friends and family. Nearly 70 percent of Americans would rather hang out with their loved ones than buy gifts for them. Holiday stress (and debt) is clearly a big problem that we would rather ditch presents altogether than spend money we don’t have.
It’s probably because they realize how expensive the holidays are getting. Seeing as how spending is up to more than $700 this year, it’s no wonder shoppers are stressed about going into debt this holiday season.
And the holiday season began long before Black Friday. Many shoppers — 45 percent — were doing their holiday shopping before Halloween. Some even before summer ended. Even with a dedicated season, there are many consumers who are consciously buying gifts throughout the year, catching deals well before Black Friday.
While RetailMeNot expects holiday shopping to basically end after Cyber Monday, the increase in demand for holiday deals and discounts is so high that “Black Friday” might even last for two weeks. Really, you shouldn’t even be shopping that long, since all you need is Sofa Saturday to browse all the upcoming deals for your shopping list.
Meet the Author
Article last modified on December 14, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: The Holiday Shopping Season Will End on Cyber Monday - AMP.