Black Friday is the traditional start of the Holiday shopping season and one of the most feared days among retail staffers. But the calendar has changed how consumers are looking at Black Friday. In a recent post, we chronicled information on shopping activity on Thanksgiving. Today, we’ll explore data on Black Friday in particular and what the possible impact could be on your business.
• Over the past 2 years, anticipated Black Friday shopping activity has increased by 25%
• Among those who expect to shop on Black Friday ,one-third expect to be at stores by 5am. Nearly two thirds anticipated to be shopping by 10am
• Nearly 40% of Black Friday shoppers expect to visit 4 or more stores
• By the end of the Thanksgiving / Black Friday weekend, almost three quarters of shoppers expect to have the majority of their holiday purchases completed
• Over 30% of Black Friday shoppers say special sales are the reason they will be shopping. Since last year, the lure of the deal has increased 23%.
What Does This Mean To You?
It’s no mystery that deals are the main driver of Black Friday shopping. Retail has trained these shoppers to line up, camp out and seek out the best door buster sales they can find. What is different this year is that instead of Black Friday being the starting point for many consumer’s holiday shopping – for many it may the end of their Christmas list.
The reason why is simple – the calendar.
This year there are only 25 days between Black Friday and Christmas, last year there was 31.
That’s a near 20% slide in available shopping days.
Also, Hanukkah starts the day before Thanksgiving, 11 days earlier than last year.
Shoppers are already crazed during this time of year; many of them are looking for ways to save not just money but time as well. Creating shopping opportunities earlier may help them save time and money and definitely keep you off the consumer’s naughty list. Getting your holiday strategy in shape now is paramount to success. Loyalty programs can be key in getting the word out about your holiday offerings. Mobile initiatives can help you direct shoppers in-store and deliver offers via text & email. Mobile can also help you direct shoppers to content you want them to see with QR codes. For more information on how to generate more sales over Black Friday, Please contact:
Source: Accenture Research