What’s your instinct on Black Friday - flock to every sale you see, or hunt for a few special deals? New research explores people’s choices during sales events like Black Friday and Cyber Monday. CGTN’s Michael Marillier takes a look at the data.
#BlackFriday #CyberMonday #shopping #sales #deals
#BlackFriday #CyberMonday #shopping #sales #deals
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00:00Are Black Friday shoppers like sheep, flocking to every sale they see?
00:07Well, sometimes it seems that way.
00:10Advisory firm Deloitte asked Americans how much they plan to spend on Black Friday and Cyber Monday.
00:16The average budget? $650.
00:20That's 15% higher than last year.
00:23But many consumers are actually quite savvy.
00:27In fact, you could say they're more like wolves than sheep.
00:31Analysts say many shoppers are still feeling the impact of inflation, which hit record levels in 2022.
00:38They're hunting for discounts so they can actually afford certain products.
00:42And that may explain why they're spending so much during events like Black Friday.
00:47The data backs that up.
00:49Research group Ipsos conducted a global survey in November.
00:5432% of consumers said inflation was one of their biggest worries.
00:59All this suggests that many people have the instinct to spend, but also the instinct to save.
01:05So if you're splurging on Black Friday or Cyber Monday, don't feel too bad.
01:11You may just be a wolf in sheep's clothing.