Stung by inflation, 62% of Americans plan to shop for basic essentials, including food, on this year’s Black Friday and Cyber Monday, according to CouponFollow.
Nearly three-quarters, 72%, are more likely to be swayed by inflation and rising prices than by great deals and discounts, the coupon website’s survey of 1,000 adults on Oct. 20 and Oct. 21, 2024 found. In addition, 34% of shoppers plan to spend less this year.
The top everyday items people are planning to buy are household supplies, such as cleaning products and toiletries (33%), groceries (25%), bulk necessities such as paper towels and detergent (22%), large appliances such as a refrigerator or washer/dryer (21%), and home repair materials (18%).
It’s no wonder, since food prices have shot up 23% and household cleaning products are 17% more expensive than at the start of the Biden-Harris administration.
Forty-three percent of Americans plan to shop on both Black Friday and Cyber Monday, and 25% plan to use “Buy Now, Pay Later” for their purchases.
On average, Americans plan to spend $276 on Cyber Monday and $246 on Black Friday.
Inflation is weighing heavily on the minds of shoppers this holiday season.
Asked about what economic factors are impacting their spending plans, 62% cited inflation and the rising cost of goods. Forty-three percent said the overall increased cost of living.
That was followed by 36% pointing to the availability of deals and discounts, 24% citing changes in household income, and 18% pointing to personal debt.
The top items people are planning to buy outside of everyday items are: clothing and electronics, and electronics (each cited by 57%), toys and games (31%), home goods and furniture (30%), and self-care items (28%).
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