Is Black Friday Still Worth Waiting For? Consumers May Think Not, but That Perception Is Not in Line With Reality
New Survey From RetailMeNot Finds That Proactive Early-Bird Shoppers Are Not Waiting Around for Holiday Deals
AUSTIN, Texas, Oct. 8, 2015 /PRNewswire/ -- RetailMeNot (www.retailmenot.com), the largest digital offers destination in the United States, has released the fifth annual holiday edition of the company's Shoppers Trend Report indicating that shoppers are starting their holiday planning earlier and not waiting for Black Friday and Cyber Monday to make all their purchases.
Perception vs. Reality
"Consumers in record numbers are questioning the value of offers on Black Friday," said Trae Bodge, senior lifestyle editor at RetailMeNot, Inc. "And while this perception appears to be driven by media speculation, it serves as a catalyst for many shoppers to begin preparing and shopping for the holiday season as soon as Labor Day. While early-bird behavior is beneficial for the strategic buyer, RetailMeNot's offer data still suggests that deals during the five days of savings from Thanksgiving to Cyber Monday are stronger on a percent-off basis than in prior weeks."
According to a survey conducted by Kelton Global on behalf of RetailMeNot, consumers said the following regarding their early shopping patterns:
- Only 10% of consumers surveyed believe that Black Friday savings are worth the wait.
- 85% of shoppers expect retailer holiday promotions to begin prior to Black Friday, with more than half (54%) saying they expect to see these offers in the marketplace prior to October.
- 51% of consumers said they take advantage of deals throughout the year regardless of major holiday sales.
- 45% of shoppers are always in deal-hunting mode.
Game Plan: Pre-Holiday Planning and Prep
"Having a strategy is key," said Bodge. "Savvy shoppers are preparing their gift lists, considering budgets and downloading shopping apps that make deal-hunting easier. Additionally, savvy consumers know that discounts are to be had in certain early holiday retail categories like toys, home decor and apparel."
Consumers should reconsider making all purchasing decisions at one time because category deals tend to ebb and flow:
- A holiday traveler looking to plan a winter getaway in advance of the season can find an average discount of 33% off during the month of October, based on the average savings experienced by RetailMeNot users during the same period in 2014.
- Electronics and computers hit their peak from Thanksgiving through Cyber Monday and then into the first week of December, with an average discount ranging from 38 to 40 percent off, according to RetailMeNot data.
- In late-period shopping, that is, post-Cyber Monday through the end of the year, items like discounted gift cards represent tremendous savings opportunities. In what we call the triple play of savings, consumers can purchase discounted gift cards, apply coupons to that purchase and then use a cash-back credit card to extend their savings even further.
What Drives Shoppers to Spend?
According to survey data, shopping in-store will continue to be popular. In fact, 88% of consumers confirmed that they're looking for motivation to enter a mall or store this holiday season.
The survey also reports what types of promotions are most attractive to shoppers. Monetary rebates were the most appealing.
- 44% of shoppers surveyed would be motivated to shop in-store if they could get money back on their purchase.
- Holiday sales would prompt 37% of consumers to shop in stores; while exclusive flash-sale deals (31%) and door-buster offers (27%) would get the rest through the door.
- 24% said gift-wrapping services encourages them to shop in stores.
- 16% of shoppers said that good holiday music encourages them to enter a store to shop!
Celebs to Shop With
And in the "Why Not?" category, RetailMeNot asked consumers who they thought would be the best celebrity deal hunter to go shopping with this holiday season. Kelly Ripa topped our list of nominees!
- Nearly 3 in 10 consumers (28%) believe that Ripa would help them find the best deals.
- Following Ripa were Kate Gosselin (13%), Sarah Jessica Parker (12%) and tied for third place was Kristen Bell (9%) and Lady Gaga (9%).
The RetailMeNot surveys were conducted by Kelton Global between September 2 and September 8, 2015, among 1,028 U.S. residents ages 18 and over, using an e-mail invitation and an online survey. Quotas are set to ensure reliable and accurate representation of the entire U.S. population ages 18 and over. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and affected by the number of interviews and the level of the percentages expressing the results. In these particular studies, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 and 3 percentage points, respectively, from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. The margin of error for any subgroups will be slightly higher.
About RetailMeNot, Inc.
RetailMeNot, Inc. (http://www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers for their favorite retailers and brands. During the 12 months ended June 30, 2015, RetailMeNot, Inc. experienced over 730 million visits to its websites, and during the three months ended June 30, 2015, RetailMeNot, Inc. averaged 18.4 million mobile unique visitors per month. In 2014, RetailMeNot, Inc. estimates $4.4 billion in paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. The RetailMeNot, Inc. portfolio includes RetailMeNot.com, the largest digital offer marketplace in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk, the largest digital offers marketplace in the United Kingdom; deals.com in Germany; Actiepagina.nl, a leading digital offers site in the Netherlands; ma-deduc.com, a leading digital offers site in France; Poulpeo.com, a leading digital offers site with cash back in France; and Deals2Buy.com, a digital offers site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit http://investor.retailmenot.com. Be sure to "like" RetailMeNot, Inc. on Facebook and follow the company via Twitter @retailmenotinc.
RetailMeNot PR Department
+1 512 777 2957
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SOURCE RetailMeNot, Inc.