Millennials expected to lead Black Friday shopping crowds
PHOENIX — They may be tech-savvy, but millennials are expected to lead the charge this year when stores open for Black Friday.
BankRate.com said 18-29-year-olds are about 13 percent more likely to walk into a physical store on Black Friday when compared to older generations. They’re also more likely to shop online on both Black Friday and Cyber Monday.
For all the fanfare surrounding the official kickoff of the holiday shopping season, the website said just 28 percent of Americans are expected to hit stores on Black Friday, with a total of 40 percent of Americans shopping online.
“Consumers are well-aware that deep discounts will be offered throughout the holiday shopping season,” BankRate.com analyst Jeanine Skowronski said. “They don’t necessarily need to brave the Black Friday crowds to score them.”
Just one-in-four Americans are expected to make a purchase on either Black Friday or Cyber Monday, but the website estimated most are prepared to spend between $200-$400.