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Consumers simply want a better experience.
Black Friday has been evolving in recent years, with more online spending,less in-store shopping, and a general concern that promotions aren’t always as great as they sound. These changes are happening rapidly, and retailers need to address them if they want to reap the event’s full benefits. In particular, consumers’ reluctance to visit crowded stores can be a big opportunity—if retailers align themselves with customer expectations.
Key Findings: Does Black Friday still matter to consumers?
In October 2016, Periscope conducted online research to understand consumer attitudes toward Black Friday and anticipate their shopping patterns this year. The survey targeted consumers between the ages of 18 and 60-plus in the United States and the United Kingdom. There were 1,570 qualified responses.. Some of the results show consumer apathy about Black Friday, particularly about in-store shopping. Consumers simply want a better experience.
Customers will still shop, but attitudes are changing
Though Black Friday is considered one of the biggest shopping events of the year, the survey indicates a decline in consumer involvement and interest. In 2015, only 33 percent of US consumers proactively shopped for products in the Black Friday shopping period. It’s still a relatively new phenomenon in the UK, where only 25 percent of respondents made purchases during the same sales period.
UK resondents who say they won’t shop on Black Frday
In 2016, consumers in both countries seem to be undecided. Only 26 percent of US respondents say they definitely will shop on Black Friday, 51 percent say they will not, and 23 percent are undecided. This is a significant shift from 2015, and it is also reflected in the UK, where 30 percent are undecided, 48 percent will not shop, and only 22 percent are committed to making purchases.