“This year, retailers have an opportunity to better connect with millennials, who grew up heading to midnight doorbuster-deal events. “Millennials have taken over as the largest share of Black Friday–Cyber Monday spending,” said Stephen Rogers, managing director of Deloitte Insights Consumer Industry Center, Deloitte Services LP, in a statement.
In-store shopping will remain significant, though it’s expected to be 5% lower this year than in 2022, dropping from $145 to $138, as consumers haven’t been wowed by the advertised doorbusters and have less tolerance for crowds.Ī big part of the surge will be courtesy of millennials, who are expected to spend twice as much as Generation X over the weekend and will increase their spending by 38% compared to last year. Black Friday could see the biggest boost, with consumers expected to spend an average of $169 online, compared to just $121 online in 2019.
