With the promise of deep discounts and limited-time offers, Black Friday has become a hallmark of modern shopping culture—and no generation loves a good deal more than Gen Z.
Having held off making purchases and browsed countless stores searching for the cheapest price and the best value, Gen Zers are more likely to spend on Black Friday than any other generation.
EduBirdie surveyed 2000 Gen Zers on their Black Friday spending and its impact on their finances. The results show that while young consumers love to shop, the busiest shopping day of the year leaves many counting the costs in the months following.
Scroll, swipe, spend: Gen Z’s Black Friday shopping habits
Trendy fashion, wellness boosters, and the latest tech—Gen Zers love to shop, especially when there’s a bargain to be had. Black Friday offers the perfect opportunity for young shoppers to pick up the products on their wishlist at a discounted price, and they took full advantage this year, with 84% having made a purchase.
But with so many good deals, it can be easy to overindulge in the Black Friday sales. While 47% keep their spending under control, 53% spend more than half of their monthly income during the biggest shopping day of the year.
Some 35% spend up to a month’s salary, 14% stretch their budgets to two month’s income, and 4% splurge even more than that—putting many young Black Friday shoppers in the red.
Spending sprees are fine if you have enough disposable income to cover your purchases, which was the case for 73% of Gen Z shoppers this year. However, 27% chose to fund their Black Friday splurge using credit cards, loans, or borrowing money—adding the high-interest payments that typically come with taking on debt to their bill.
The Black Friday hangover: The consequences of overspending
Black Friday shopping fills our brains with dopamine, endorphins, and serotonin—happy chemicals that make us feel good. Some 87% of Gen Zers are pleased with their purchases, and these feelings remain long after Black Friday. However, for 13%, the rush of shopping is soon replaced by buyer’s remorse. Some 9% of Gen Z shoppers report feeling regret, while 4% experience depression due to overspending.
Some 56% of Gen Z Black Friday shoppers will be back in the green once December’s paycheck hits their bank account. However, for others, their overspending will have serious financial repercussions. Some 11% are already considering taking out another loan to stay afloat, while 26% admit they will have to cut back on essentials, such as groceries and healthcare, to account for the costs.
A little retail therapy—shown to lift our spirits and provide a sense of personal control—can do us a world of good. However, there’s a fine line between indulgence and overspending. The instant gratification that checking out provides may feel like money well spent, but is it worth months of financial strain?
_1695128627.png)
