Black Friday 2018: Is It Worth It?

With Black Friday 2018 only days away, shoppers are gearing up for a day of doorbusters and deep discounts, but is Black Friday really worth it? According to a holiday survey from Bospar, the day after Thanksgiving is still the day that most consumers feel they will get the best deals on holiday shopping.

A total of 78 percent of Americans will spend the same or more on holiday gifts than they did last year with 53 percent of those consumers feeling that Black Friday is the best time of year to get a deal on gifts, according to the survey.

“Each year we hear reports that Black Friday is losing its luster,” said Brent Shelton, online shopping expert with Bospar, a boutique PR firm. “But just as this survey reports, our clients in the thick of the holiday spending frenzy report record participation from consumers on Black Friday, year after year.”

Cyber Monday is also a high priority for shopper as 38 percent say this is the best time to find a deal on holiday gifts. Consumers also responded that the best days to shop are after Christmas sales at 36 percent, December sales at 27 percent, and free shipping day at 26 percent.

The best places to get in on the savings are in-store or online at major retailers, according to 47 percent of survey respondents. Black Friday sites also rank high with 35 percent of shoppers saying this is where they will shop. Local shops fall in line at 32 percent with deal or coupon sites making up 30 percent of where consumers think they will find the best deals.

So, where is the best place to score a deal this holiday? As many as 44 percent of Americans think it will be at Amazon, where they will spend 59 percent of their holiday budget on gifts. Walmart falls right behind with 58 percent of shoppers buying their holiday gifts there. Target (28%), Best Buy (19%), Macy’s (15%), and Home Depot (8%) bring up the rear for holiday spending by consumers, according to the survey.

The majority of consumers will pay for the gifts this year with credit cards (39%) while 37 percent of shoppers will pay cash. PayPal and other online payment services will make up 14 percent of spending with personal checks and layaway both at 3 percent, the survey indicated.

Bospar, in conjunction with Propeller Insights, surveyed more than 1,000 U.S. adults 18 and up online in November 2018 for the results of the survey.