More Consumers Are Staying Home On Black Friday, Ibotta Finds
Retailers should look to provide relevant deals and offers throughout the holiday season — not just around the ‘Super Bowl’ of shopping days.
While the 2015 holiday shopping season is projected to bring in over $885 billion in revenue, a report from Ibotta suggests that Black Friday is less important to the overall picture than in previous years.
With the rise of events like Cyber Monday and Small Business Saturday, two-third of shoppers surveyed said that Black Friday isn’t as big of a deal as it used to be. According to Ibotta, 57 percent of shoppers will complete the majority of their holiday purchases after what has traditionally been seen as the “Super Bowl” of shopping days, delaying the bulk of their purchases in hopes of finding better deals — and more favorable shopping conditions — after Black Friday has ended.
Other key survey findings include:
- 57 percent of shoppers will do most of their shopping post-Black Friday, and 8 percent of those shoppers will wait until the last minute and make purchases the week before Christmas.
- 49 percent of shoppers expect the best deals after Black Friday.
- 47 percent of shoppers will shop both in-store and online for gifts.
Essentially, in-store deals are still of significant importance, and retailers can win over shoppers with relevant deals and offers in the days leading up to Christmas — but it doesn’t pay to put all the eggs in the Black Friday basket.
“We conducted our Black Friday Shopper Survey to better understand how Americans are approaching what is the busiest retail season of the year,” said Bryan Leach, CEO of Ibotta, in a statement. “With the rise of other shopping days, coupled with the introduction of mobile shopping apps… that enable consumers to find great deals all the time, fighting the crowds and competing for low stock items just isn’t worth it anymore. We’re seeing that some of the hype and anxiety that once surrounded Black Friday is lessening as holiday shopping evolves into an expanded opportunity to find the best deals and perfect gifts in all the weeks leading up to the holidays, not just Black Friday.”