An estimated 166M Americans will shop from Black Friday through Cyber Monday, report shows

Friday, November 25, 2022

How has inflation affected Black Friday shopping?

Black Friday is the biggest shopping day of the year in the United States and this year the deal day comes against the backdrop of record inflation.

EAST RUTHERFORD, New Jersey (WABC) -- Black Friday is the biggest shopping day of the year in the United States and this year the deal day comes against the backdrop of record inflation.

Shoppers are already out and millions are expected to descend on stores in search of deals.

The American Dream mall in East Rutherford, New Jersey, was calm before the shopping frenzy Friday morning. Doors opened to eager shoppers at 7 a.m. but the mall may not see as many deal seekers as in previous years.

Black Friday has evolved over the last decade or so with not as many long lines in front of stores on Thanksgiving, with some major retailers like Target and Walmart closed altogether.

"What we're seeing is a Black November you know where the sales start very early because we have so much inventory," retail business expert Kim Sovell said.

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An estimated 166 million Americans are planning to shop between Thanksgiving through Cyber Monday this year, according to the National Retail Federation.

This is the highest estimate since the association started tracking shopping numbers.

Families will be spending an average of about $800 most of it between Black Friday and Cyber Monday.

But experts say the amount they're spending could be down this year because of inflation.

"Shoppers are really fatigued after months and months now of high gas prices and high food prices," Avery Hartmans of Business Insider said. "And I think that heading into the holidays, they're just not going to spend as big this year."

The majority of the people who plan to shop on Black Friday say they do so because the deals are good, while about 27% say it's tradition and a little less than a quarter of people say they're hit the stores because it's something to do.

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