In 2023, housing required the highest amount of consumer expenditure across all races, with Asian individuals spending the most. Additionally, Asian individuals spent more on personal insurance and pensions, as well as education than any other race.

This holiday season, more than half of U.S. and Canadian consumers were intending to cut back on their Black Friday and Christmas shopping spending to varying degrees due to the impact of rising inflation rates. Only **** in ** consumers said they did not plan reducing their holiday season spending.

In 2023, less than ** percent of surveyed consumers in the Netherlands believed they would spend less on Black Friday in comparison to how much they spent in 2022. Nearly two-thirds of Dutch shoppers believed their spending habits would not change.

In case prices for goods and services go up significantly in 2023, over ** percent of consumers around the world said they would shop less in general and cut down on spending as a response. A fifth of survey respondents said they would look for and purchase cheaper and better value products. Less than **** percent of those surveyed worldwide believed inflation would be unlikely to impact their habits. What does inflation look like? The world entered a new inflation crisis in 2021, driven by a confluence of factors including the COVID-19 pandemic which restricted global supply chains, and the Russian-Ukraine war which exacerbated food and energy shortages. In 2022, global inflation hit **** percent, the highest annual increase in decades. The rate of inflation is estimated to remain high in the near future, at around *** percent in 2023 and *** percent in 2024. Inflation dominated the list of most important problems facing the world according to a survey conducted in October 2023 – leading ahead of poverty and social inequality, crime and violence, and unemployment. In a global consumer trends survey, the majority of respondents said that inflation impacted them completely or a lot – for instance, ***** in ** respondents in the United States admitted they had been seriously impacted. Inflation’s impact on the holidays The end-of-year holiday season is typically regarded as a period of increased retail spending, driven by a series of major shopping events such as Black Friday and Cyber Monday, as well as the public holidays Thanksgiving and Christmas. However, inflation has put a damper on the holiday cheer, with consumers expressing their intentions to cut back spending amid the cost-of-living crisis. In 2022, a significant share of consumers in Europe said they planned to cut at least some related expenses. In fact, ** percent of respondents in the United Kingdom planned to cut all expenses related to Black Friday and Christmas.

In the Netherlands, consumers intending to participate in Black Friday expected to spend an average of roughly *** euros during the holiday shopping event in 2022, which is a significant increase compared to the previous year. Compared to four years earlier, average per capita spending among Dutch shoppers has increased by 100 euros.

While in 2022, consumers in the United States spent on average ****** U.S. dollars during the Black Friday period, this figure is set to rise in 2023, with consumers saying they will likely spend more.

For 2022's holiday season, a significant share of consumers intended to cut back on spending due to inflation. In the United Kingdom (UK), for example, roughly **** in ** shoppers said they expected to reduce all of their Black Friday and Christmas spending this year. Only about ** percent of surveyed UK consumers said they would not cut back on their holiday spending. According to the same report, European holiday season spending in 2022 was expected to see a considerable drop in comparison to 2021.

Why do consumers shop on Black Friday?

Black Friday takes place on the Friday after Thanksgiving in the United States and is the largest discount shopping event of the year. While Thanksgiving is not celebrated overseas, the shopping event did become an international phenomenon over time. When asked why they planned to shop during Black Friday, about ***** in ** consumers in the United Kingdom said the sales event offers better deals and prices for buying gifts.

The impact of inflation on holiday shopping

Unsurprisingly, consumers are more cautious about their spending due to the wave of rising consumer prices. This applies especially during the holiday season, which is typically a time of year that involves more expenses than usual. According to a survey conducted in Germany, roughly half of consumers planned to pay closer attention to offers during Black Friday as a result of rising prices and the effects of the energy crisis in 2022. Close to the same number of German shoppers said they intended to buy less overall.

A survey conducted in the United States in August 2022 found that white adults were the least frequent users of social media as a news source, with a third stating that they never used social networks for news. Conversely, Black Americans were the most likely to use social media for news on a daily basis.

Graph and download economic data for Expenditures: Laundry and Cleaning Supplies by Race: White and All Other Races, Not Including Black or African American (CXULAUNDRYLB0903M) from 2003 to 2022 about laundry, cleaning, supplies, white, expenditures, and USA.

Graph and download economic data for Expenditures: Medical Supplies by Race: Black or African American (CXUMEDSUPPLLB0905M) from 1984 to 2022 about medical, supplies, African-American, expenditures, and USA.

The consumption volume of black tea in Japan amounted to less than ****** tons in 2023, which represents a decade-low. A popular way of consuming black tea in Japan is the preparation as milk tea.

In 2022, the index score of the black tea consumption in Japan reach *** points, indicating a significant increase compared to 1990. Within the last decade, the consumption of black tea in Japan stayed steadily above the volume recorded during the base year.

In 2023, TV consumption in the United States was highest among African Americans, who watched an average of **** hours of TV each day. While the viewing time dropped among white, Black, and Hispanic consumers, Asian Americans’ time spent grew from 2021 to 2022 to around *** hours per day. TV and streaming engagement among racial groups As of mid 2022, The U.S. population still spent most of their time watching TV and streaming content on traditional media, such as cable and broadcast. Roughly ** percent of their viewing time was allocated to streaming. It was also observed that Hispanics were more likely to use online video platforms than any other ethnic group, with a viewing time share of over ** percent. By contrast, using streaming services accounted for around ****third of the total viewing time among white and Asian consumers. Traditional TV vs. digital video The way consumers watch TV shows and movies has changed significantly. A forecast showed that traditional TV consumption among Americans will continue to steadily decline in the upcoming years. Meanwhile, with an increasing number of consumers adopting streaming and social videos, digital video soars, outpacing TV viewing time by the end of 2023.

Graph and download economic data for Expenditures: Apparel, Boys, 2 to 15 by Hispanic or Latino Origin: Not Hispanic or Latino: Black or African-American (CXUBOYSLB1005M) from 2003 to 2022 about males, apparel, African-American, expenditures, latino, hispanic, and USA.

The average consumer in Poland drank ** grams of tea per month in 2023. This was a slight decrease compared to 2015. This consumption volume has not changed since 2015.  Prices of tea in Poland    Over the years, the monthly per capita expenditure on tea fluctuated. In 2023, a typical Pole would spend over *** zloty on average each month. Although black leaf tea’s average retail price has maintained an upward trend since 2016, the time between 2018 and 2020 saw a drastic increase in tea prices – jumping from **** zloty to **** zloty per 100 grams of black leaf tea in one year. Out of all the Polish regions, people living in the Dolnoslaskie voivodeship had to pay the most for one-tenth of a kilogram of back leaf tea, reaching **** zloty on average in 2022.   Characteristics of Polish tea drinkers   In terms of consumption, iced tea is the most popular tea type among Polish people, being enjoyed by as much as ** percent of the population. However, when it comes to knowledge on different tea types, Earl Grey and yerba-mate are the most recognized tea types among the consumers. Finally, the most popular tea brand and an undisputed leader in Poland is Lipton, a British brand owned by Unilever.

Graph and download economic data for Expenditures: Laundry and Cleaning Supplies by Hispanic or Latino Origin: Not Hispanic or Latino: White and All Other Races, Not Including Black or African American (CXULAUNDRYLB1004M) from 2003 to 2022 about laundry, cleaning, supplies, white, expenditures, latino, hispanic, and USA.

This statistic shows data on the development of the average per capita consumption of black and green tea in Germany from 2005 to 2022. Based on an average of **** grams of tea per liter, the average per capita consumption of black and green tea was roughly **** liters in 2022.

In 2022, the global consumption of black liquor derived bioenergy stood at around 1.5 million terajoules, a slight increase compared to the previous year. Black liquor is a byproduct of the paper-making process, containing lignin, hemicellulose, and chemicals used in pulping wood.

Graph and download economic data for Expenditures: Processed Vegetables by Race: Black or African American (CXUPROCVEGLB0905M) from 1984 to 2022 about vegetables, processed, African-American, expenditures, and USA.

Graph and download economic data for Expenditures: Processed Fruits by Race: White, Asian, and All Other Races, Not Including Black or African American (CXUPROCFRUTLB0902M) from 1984 to 2022 about fruits, processed, asian, white, expenditures, and USA.