No holiday shopping is ever complete without Black Friday and Cyber Monday.
A chance for consumers to shop in person (or online) and snag some great deals, Cyber Week is one of the most anticipated times of the holiday shopping season.
Our 4th annual Cyber Week survey gathered responses from 1,000+ Americans on how they prefer to shop during this (often chaotic) time. In this post, we'll cover the data found for Cyber Monday 2024.
According to our survey, we found that…
- 68% of consumers will plan to shop on Cyber Monday this year
- Close to half of Cyber Monday shoppers (42%) plan to spend the same amount on shopping as they did last year
- Amazon is the preferred online shopping platform for 85% of consumers this Cyber Week
- Millenials are most likely to spend $1,000 or more at 24% when compared to Baby Boomers (13%), Gen X (22%) and Gen Z (10%)
For further analysis, we broke down the data in the following ways:
General Statistics | Spending | Product Purchases | Shopper Preferences | Demographics
General Cyber Monday Statistics
1. 68% of consumers will plan to shop on Cyber Monday this year.
This is up slightly from last year's Cyber Monday consumers at 66%. Of that group, Gen X and millennials will be the most likely age group to participate at 76% and 72%. Following that will be Gen Z at 61% and Baby Boomers at 49%.
2. 13% of consumers will spend 6+ hours online Cyber Monday shopping
While a smaller percentage, this figure only goes to show that dedicated shoppers find online shopping an easier option than in-person shopping. Shoppers also tend to buy more on Cyber Monday as the day goes on, with a majority of sales being made from 10PM to 11PM.
3. Last year, Cyber Monday sales reached $12.4 billion dollars
Reaching record numbers, Cyber Monday 2023 had immense success among shoppers, including the 59% percent that enjoyed the ease of shopping from their smartphones.
Recommended Reading: Black Friday Statistics, Trends, & Facts [2024]
Cyber Monday 2024 Spending Statistics
4. 22% of consumers are willing to spend $400 to $599 on shopping this season - the same amount as in 2023
While this is a large chunk of change, costs add up (especially when items are on sale). Our survey also found that 19% of shoppers will spend $200 to $399, 13% will spend less than $200, and another 14% will spend $699 to $700. Up to 20% will spend $1,000 more, down 3% from 2023.
5. Close to half of Cyber Monday shoppers (42%) plan to spend the same amount on shopping as they did last year
22% of shoppers will spend slightly less than last year, 21% plan on spending slightly more, 10% will spend much less, and 6% will spend much more than last year.
6. 80% of shoppers will be spending less due to the increasing cost of living
Aside from rising costs of living, shoppers will also be spending less due to higher grocery costs (65%), high inflation rates (60%), and high inflation (59%).
Other reasons include:
- Fewer people to shop for (24%)
- Job uncertainty (21%)
- Fluctuating interest rates (7%)
Cyber Monday 2024 Purchases Statistics
7. 77% of Cyber Monday 2024 shoppers will purchase clothing and accessories
Other popular items to buy include electronics (71%), health/beauty products (45%), toys (38%) and household appliances (40%).
8. Electronics are the top item choice for both men and women to buy on Cyber Monday
Both men (79%) and women (69%) list electronics as their most sought-after Cyber Monday purchase.
9. Amazon is the preferred online shopping platform for 85% of consumers this Cyber Week
What's more, Amazon was the top choice across age groups. Online shoppers will also be frequenting Walmart (59%), Target (57%), and Best Buy (29%) websites.
Aside from these top choices, other Cyber Monday shoppers will be purchasing from:
- Kohl's (28%)
- Macy's (27%)
- Sephora (20%)
- Old Navy (20%)
- Costco (19%)
- eBay (15%)
10. PetSmart is the preferred store for pet-related items at 11%
Our pets deserve gifts, too! Aside from PetSmart, 10% of Cyber Week shoppers will be purchasing pet items from Petco.
11. 14% of Cyber Monday shoppers will choose local businesses to buy from
While major retailers certainly have their fair share of items to choose from, let's not forget our favorite local shops too on Cyber Week - although this number is down 3% from our 2023 survey.
Cyber Monday Consumer Preferences
12. Promotions/sales are important when discovering deals, according to 81% of consumers
And retailers know this, which is why it's no surprise consumers discover a good Cyber Monday sale this way. Basic promos aside, a few other ways that attract consumers to deals include free shipping (77%), product availability (68%), return/exchange policies (50%), and fast shipping (50%).
13. 65% of consumers discover deals through the retailer's website
This is expected, as anyone who's shopped on either Black Friday or Cyber Monday online can attest to seeing constant reminders of deals on a site. Aside from the on-site advertising, consumers will also learn about deals through...
Other ways shoppers become aware of Black Friday and/or Cyber Monday deals include:
- Email (61%)
- Retailer promotional social media ads (53%)
- Word-of-mouth recommendations from family/friends (38%)
- Online blogs/articles (36%)
- Retailer apps/push notifications (35%)
- Retailer organic social media posts (24%)
14. Promotions/sales are more enticing to women than men on Cyber Monday
While 82% of women shopping on Cyber Monday will keep an eye out for those special promos, 75% of men shopping will notice these deals.
Continuing on this trend is the difference of opinion on free shipping as an important factor for Cyber Monday. Overall, 78% of women will pay attention to this, while 72% of men will. Changing up this trend, men (72%) appear to prioritize product availability over women (67%) on Cyber Monday.
Cyber Monday Demographics
By Age
- Millennials are most likely to spend $1,000 or more at 24% when compared to Baby Boomers (13%), Gen X (22%) and Gen Z (10%)
- Millennials are the most likely to shop from Target (67%) and Walmart (62%)
- Gen X are the most likely to purchase health and beauty items on Cyber Monday at 50%
By Gender
- Men are more likely to spend the same amount this Cyber Monday (46%) as last year when compared to women (40%)
- Both women (87%) and men (82%) are nearly tied for having Amazon be their top retailer for Cyber Monday
- Women (64%) are significantly more likely to use promo emails as a way to discover Cyber Monday deals as compared to men (52%)
By Household Income (HHI)
- Almost half (42%) of those making $150,000+ will spend $1,000 or more on Cyber Week purchases
- 82% of those with an HHI of $100,000-$149,000 list increased cost of living to be a deterrent from spending this year
- Those with an HHI of $75,000+ are more likely to spend the same amount (43%) on Cyber Monday shopping as they did last year
Final Thoughts
All in all, Cyber Monday 2024 is set to be a success this holiday shopping season.
Major retailers like Amazon, Target, and Walmart will all be stopping points for shoppers. Of those shopping this year, close to half of consumers are willing to spend just as much as they did last year.
However, it’s also important to note that certain economic factors may be halting those from spending more. Our survey revealed common themes for this included higher cost of living, inflation rates, groceries, and other additional factors.
Similar to previous Cyber Mondays, consumers will continue to gravitate towards purchasing items like clothing, accessories, and electronics. Brands that advertise with effective promotions and deals are the most popular way to draw in shoppers, with a majority of them listing this as a key factor for purchasing.
Survey Background & Methodology
Figures in our Black Friday and Cyber Monday market research report are drawn from an online survey conducted by Drive Research to better understand consumers' holiday shopping preferences and purchasing behaviors. Drive Research is a national market research company.
The survey included 25 questions and received 1,020 responses from those who plan to shop during Cyber Weekend 2024. Fieldwork for the survey was conducted in September 2024.
With a probabilistic sample, a total of 1,020 responses at the 95% confidence level offers a 3% margin of error. If the survey were conducted with another random pool of respondents, the results would yield within +3% or -3% of the stated totals in the reports.
Download Our Cyber Week Consumer Report
Hundreds of new statistics and insights to help retailers, eCommerce sites, and agencies learn practical and relevant information to improve decision-making. Plus, the download provides access to portals to view the data by various demographics such as age, gender, ethnicity, income, and region.
Drive Research is a national PR survey company located in New York. Our market research firm works with a variety of organizations, helping deliver insights, action items, and ROI on their survey efforts.
Our research has been featured in top-tier media outlets including USA Today, CNBC, Forbes, Spectrum, Yahoo Finance, and Statista.
To learn more about our market research services, contact our team today.
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Lark Allen
As a Content Marketing Specialist, Lark has a strong background and passion for creative, professional, and journalistic writing. She is also a self-proclaimed music freak and 90s enthusiast.
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