Consumers will keep their purchasing options open so they can shop spontaneously this Black Friday – with a bigger budget in mind, new analysis suggests.
Some 49% of the polled UK shoppers say that they haven’t done any planning, with 50% of the same respondents saying that they plan to spend more this peak, according to Periscope’s Black Friday Report 2018: Consumers eager, more digital, and willing to spend. The study surveyed adult consumers in the UK (509), the US (1001) and Canada (507) in September 2018 to identify actionable insights retailers can leverage for the upcoming Black Friday.
While limited consumer pre-planning presents an opportunity for retailers competing for their wallets, the research says that shoppers will be making their purchasing decisions based on promotional discounts. Some 54% of UK respondents say that steep discounts, one-off promotions and personalised offers will motivate them to buy from a retailer.
When asked to evaluate which websites shoppers primary intend to shop, Amazon is the main shopping destination in Germany (87%), the UK (83%), the US (81%), and Canada (77%). Customers in the UK also cited retailers including Argos, John Lewis, Currys and PC world they plan to shop from.
More than a half (54%) of surveyed shoppers in all markets say they will shop more online this peak, compared to last year. Shoppers name simplicity and convenience as the top factor to shop online at this peak.
The findings also suggest that UK respondents across all age groups were more likely to go for online shopping as their ideal antidote to escaping the chaos they’ve encountered when venturing in-store to buy during Black Friday. While 40% of men in the UK say that, in their opinion, online is "the place to be" when hunting down the best promotional deals, whereas, their female counterparts in the UK (26%) say they will shop online to in a bid to seek refuge from shop-floor ’scrum-downs.’
"Retailers and brands looking to extract maximum value from this ‘golden’ opportunity should ensure they start early to stimulate the wants and needs of their customers and activate their data with advanced analytics systems for targeted and personal campaigns the closer the event comes to attract high numbers of shoppers – and secure big basket orders," said Brian Elliott, founder, senior advisor and head of innovation, Periscope By McKinsey.
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