With online shopping gaining ground year after year, Cyber Monday has surpassed Black Friday as the preferred day for deals around the holiday season for all age groups, according to a new study.
Deloitte’s study said 53% of people will rely on Cyber Monday for discounts, while just 44% say they’re planning to snag promotions on Black Friday this year.
Within that, Gen Z shoppers are the most reliant on the online shopping holiday, with 65% saying they’ll use Cyber Monday for deals, followed by 61% of millennials, 49% of Gen X consumers, 47% of baby boomers and 44% of seniors.
Comparatively and across the board, Black Friday is a smaller draw, exciting 58% of Gen Z consumers, 54% of millennials, 39% of Gen X shoppers, 37% of baby boomers and 34% of seniors. The consulting firm collected the data for its annual holiday study by polling 4,410 consumers online from Sept. 6 to 13.
“We’ve seen that [trend] grow for the past five years,” Rod Sides, vice chairman of Deloitte’s retail and distribution practice in the U.S., told CNBC. He also noted 70% of smartphone users say they’ll use their phones to buy something this holiday season, which contributes to the Cyber Monday bump.
Read more about Cyber Monday predictions from Deloitte on the CNBC website HERE