Cardlytics, a company that provides an online rewards platform for financial institutions, says that 40% of holiday spend happens in the 4 weeks leading up to Black Friday, and that last year’s Black Friday results accounted for 16% of the total holiday spend, according to an article posted on

Using its proprietary platform, the firm analyzed year-over-year holiday spend between 2015 and 2016 to identify trends for its “2017 Holiday Spend: Retail Purchase Insights” report.

As part of their research, Cardlytics broke down holiday shoppers into separate segments defined by when they shop. According to their findings, the largest majority of holiday shoppers are the people who shop all season long.

“There are four distinct holiday shopper timing segments, running three weeks each,” says Cardlytics, “Each segment contributes to the overall holiday spend.”

Four Distinct Shopper Timing Segments

1. Steady shoppers accounted for 46% of the 2016 holiday spend.

2. Early bird shoppers accounted for 10% of the 2016 holiday spend.

3. Black Friday shoppers accounted for 16% of the 2016 holiday spend. That's down from 19% in 2015.

4. Last-minute shoppers accounted for 28% of the 2016 holiday spend.

And, recently, Adobe released a report forecasting online holiday sales to reach $107.4 billion. According to Adobe’s data, this year’s Cyber Monday will be the largest online shopping day in history — generating $6.6 billion in sales (up 16.5% over last year’s earnings).

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