Why People Bother With Black Friday
We just finished up some research about holiday shopping, trying to understand what people are doing and why and trying to better grasp the Black Friday phenomenon.
Personally, I think its crazy, but my wife loves it and aparently the 84 million adults planning to hit the stores on Black Friday, 18 million before 6AM, agree.
It’s no surprise that the majority (85%) of Black Friday shoppers hit the stores to take advantage of the sales, while others (18%) want to get the hot gifts before their gone, but Black Friday is becoming much more for some holiday shoppers. We found that it’s also the element of competition and a sense of camaraderie that drives many of these early morning shoppers to engage in the thrill of the hunt.
"For many Americans shopping on Black Friday has become an annual tradition and a fun way for friends and family to spend time together," comments Jeff McKenna senior consultant at Chadwick Martin Bailey. "Still, while many consumers will be out on Black Friday many others are planning to wait until closer to Christmas when they feel the discounts will be the deepest."
The news was also good for online retailers as consumers plan to do 30% of their holiday shopping online. Shopping by mail and phone seem to becoming a thing of the past with consumers reporting they plan to do only 4% over the phone and less than 1% via mail.
"Our research shows consumers are more likely to turn to eCommerce sites like Amazon.com, eBay and Zappos.com compared to a big box retail sites like Walmart.com and Bestbuy.com for their online holiday shopping," continues McKenna "However, I think the jury is still out on who will win the consumers online wallet."
Personally, I think its crazy, but my wife loves it and aparently the 84 million adults planning to hit the stores on Black Friday, 18 million before 6AM, agree.
It’s no surprise that the majority (85%) of Black Friday shoppers hit the stores to take advantage of the sales, while others (18%) want to get the hot gifts before their gone, but Black Friday is becoming much more for some holiday shoppers. We found that it’s also the element of competition and a sense of camaraderie that drives many of these early morning shoppers to engage in the thrill of the hunt.
"For many Americans shopping on Black Friday has become an annual tradition and a fun way for friends and family to spend time together," comments Jeff McKenna senior consultant at Chadwick Martin Bailey. "Still, while many consumers will be out on Black Friday many others are planning to wait until closer to Christmas when they feel the discounts will be the deepest."
The news was also good for online retailers as consumers plan to do 30% of their holiday shopping online. Shopping by mail and phone seem to becoming a thing of the past with consumers reporting they plan to do only 4% over the phone and less than 1% via mail.
"Our research shows consumers are more likely to turn to eCommerce sites like Amazon.com, eBay and Zappos.com compared to a big box retail sites like Walmart.com and Bestbuy.com for their online holiday shopping," continues McKenna "However, I think the jury is still out on who will win the consumers online wallet."
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