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According to the data from the National Retail Federation<\/a> and consumer research firm Prosper Insights & Analytics, 183.4 million people in the U.S. will shop (in-store and online) from Thanksgiving through Cyber Monday. Meanwhile, Black Friday alone is expected to see 131.7 million shoppers.<\/p>\n But where, how, and why are consumers spending their cash? Shopify’s 2024 holiday retail survey<\/a> examined trends for the holiday season by looking at responses from 2,000 consumers in the U.S. and another 16,000 in Australia, Canada, France, Germany, Italy, Japan, Spain, and the U.K.<\/p>\n Here are some key details about consumer behavior this holiday season:<\/p>\n Related:<\/b> 5 Black Friday Strategies to Turn Holiday Browsers into Instant Buyers<\/a><\/p>\n In the Shopify survey, young adults (25-34) reported that they will be increasing their Black Friday spending, with 28% planning to spend more this year and 55% aiming to finish their shopping by the end of November.<\/p>\n For those who aren’t shopping on Black Friday, 65% reported doing most of their holiday shopping between October to December, while 23% percent were found to start shopping for the holidays in June.<\/p>\n Related:<\/b> Shoppers Spent $17 Billion on Small Business Saturday Last Year. This Expert Says It’s Not Too Late to Make It a Huge Day for You This Weekend.<\/a><\/p>\n A notable trend included how valuable “free shipping” was to shoppers. <\/b>The perk would influence 47% of consumers if offered, according to the report, much higher than when a company provides “a great customer experience” (31%) or “loyalty schemes” (20%).<\/p>\n Related: <\/b>The Bold Moves That Drive This Family-Run Company’s Success<\/a><\/p>\n 27% of people surveyed said they will wait for the big sales to start shopping, and spend time comparing prices at different retailers.<\/p>\n Of the 35 to 44 age group, 85% reported having clear brand preferences. Younger shoppers ages 18 to 24 were more influenced by recommendations on social media.<\/p>\n The report found that conscious shopping was important with 26% of shoppers planning to shop more sustainably this year. One in five (22%) surveyed said they were looking to buy from independent brands.<\/p>\n The report found that 60% of consumers use a “hybrid shopping” approach to the holidays, buying small items online and larger ones in-store. There was also a “shift towards in-store product discovery” among younger shoppers. Shopping and recommendations on social media were still popular\u201455% of shoppers surveyed reported being active on Instagram and TikTok.<\/p>\nWhat Is the Outlook for Black Friday?<\/h2>\n
What Shoppers Care About<\/h2>\n