Thanksgiving spending in the U.S. is expected to increase by 12% with an average spending of $500 per person

According to a new survey by Deloitte, Americans are very enthusiastic about spending during Thanksgiving (November 24-28). It is expected that Thanksgiving shopping spending in the United States will increase by 12% year-on-year in 2022.

The survey shows that, overall, the average consumer will spend $500 during Black Friday to Cyber ​​Monday (BFCM). All income groups will spend more, with low-income (less than $50,000 per year) households planning to increase spending by 19% to $320. High-income (more than $100,000 per year) households plan to increase spending by 4% to $650.

In terms of breakdown, 64% of consumers plan to shop on Black Friday, while 56% plan to shop on Cyber ​​Monday. This year, each Black Friday online shopper is expected to spend $205, up from $190 last year. Each Cyber ​​Monday shopper is expected to spend $218, also up from $175 last year.

The survey also found that on Cyber ​​Monday, more consumers plan to shop in-store (69%) than online, while on Black Friday, online and in-store sales are almost the same, at 16% and 17%, respectively.

During BFCM this year, 54% of consumers preferred online retailers, and as consumers returned to physical stores, the popularity of mass merchants (63%, up from 57% in 2021) and department stores (35%, up from 29% in 2021) also increased.

Other highlights from the Deloitte survey include:

• Nearly half of BFCM shoppers (48%) plan to use a credit card to boost their holiday budget, up from 35% in 2021. Credit card use is up across all income groups, including low-income (50% vs. 27% in 2021), middle-income (45% vs. 38% in 2021), and high-income (49% vs. 45% in 2021) households.

• Buy now, pay later becomes popular: 37% of BFCM shoppers plan to use buy now, pay later to purchase gifts.

• -43% of shoppers who plan to spend over the Thanksgiving weekend say they will delay making major purchases.

• Shoppers are sticking to their original holiday spending plans: 81% plan to spend the same or more compared to the previous two months; nearly half (48%) plan to spend more.

Editor ✎ Nicole/

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