Black Friday is quickly approaching. Some consumers (such as myself) are likely to be awake by 4:00 a.m. on Friday, November 29 to blow some serious cash on their loved ones (and maybe even themselves 🙈). Others will be at home, rolling their eyes at the whole escapade that is Black Friday. Regardless of what camp you fall into, though, it’s clear that Black Friday is an American phenomenon that is heavily capitalized upon by major retailers like Walmart, Target, and Amazon.
So, we wondered, what are American’s spending habits on the holiday? Are they actually saving money or ultimately overspending? And where is all of this money being spent? Our partners, Piplsay (powered by Market Cube) surveyed over 52,000 Americans and found some very interesting results that are now available for you to explore in KH Insights!
Here’s some of our favorite takeaways:
Electronics are king on Black Friday
38% of Americans who responded that they overspent on Black Friday last year claim to have overspent on Electronics.
SPEND. SPEND. SPEND.
We have good news for all of you retailers out there. 30% of Americans have increased their Black Friday shopping budget this year. Only 19% have responded that their budgets have decreased this year.
Men may shop til’ they drop
As we all know, the Black Friday deals are already out. 40% of men say that they shop more and overspend because of these early-released deals.