CintSnap delves into Black Friday Cyber Monday shopping trends
As Black Friday and Cyber Monday (BFCM) sales continue to skyrocket and dominate global retailer revenues, CintSnap – Cint’s own intelligent data insights gathering platform – allows us to take a deeper look into consumer behaviors in the US, UK, Canadian and Australian markets, and the shopping habits that drive this highly anticipated shopping season.
With approximately half of respondents across all four countries keen to take advantage of the sales, BFCM represents a key window of opportunity for retailers to make their biggest impact of the year.
Despite ever-present concerns over inflation and the cost-of-living crisis, sales over the four day long event have gained steady traction YoY. According to reports from Adobe Analytics, 2022 showcased a spend of US$9.12 billion in the US on Black Friday alone, a growth of 2.3% from the year before, and US$11.3 billion on Cyber Monday.
What’s in the shopping cart?
This year, the US Thanksgiving holiday takes place on the 23rd November and falls just a day before Black Friday, 24th November, making it prime time for shoppers to take advantage of the holiday to purchase wish-list items on their shopping list and do not want to miss out on the most drastic price reductions of the year.
What items do shoppers have their eyes on? Our data reveals that most consumers plan to purchase holiday presents, with the US leading in strength (64%). Consumer electronics, household items, seasonal apparel, books and games and cosmetics also sit high on the list among popular shopping categories for respondents across the US, UK, Canada and Australia.
Each year, we see brands coming up with more creative campaigns to attract consumers, one such example being customer-centric cosmetics brand Glossier’s memorable ‘Only Sale of the Year’ over BFCM. By launching an annual sales event, the company successfully steers clear of any potential ‘sales fatigue’ and creates greater hype and impression for consumers and unarguably, a stronger sales revenue.
LUSH has previously used the BFCM sales opportunity to double down on its identity as a planet-friendly beauty brand. In 2018, it donated all the proceeds of its Orangutan soaps to support the Sumatran Orangutan Society (SOS) on its mission to reforest 50 hectares of land in Indonesia. The result? The 14,600 limited-edition soaps were sold out within hours.
So how much of a hook do brands have when it comes to influencing a customer’s buying decision?
53%, the majority of respondents, claimed that ads play an important or somewhat important role on what they end up buying. 33% were less likely to be swayed by ads for products that weren’t already on their shopping list, while 14% were committed not to shop over the BFCM weekend at all. This lends valuable insight into the power that brands hold over our emotional response in determining spending habits.
Would you be more inclined to buy from a brand based on the advertising campaigns they put out?
Thanksgiving with all the trimmings
In the US, shopping has become an integral part of the Thanksgiving festivities, with a large percentage of people (45%) dedicating time the day after to snap up amazing bargains together with their family members.
As Black Friday and Cyber Monday activities continue to shape the holiday shopping landscape, consumers across the globe display varying preferences and behaviors. Whether online or in-store, seeking the best deals or embracing age-old family traditions, the survey results provide insights to prep retailers for the biggest annual surge in sales. As we eagerly await to kick off the holiday season, this much is clear – the thrill of the hunt and the joy of finding the perfect deal remain universal sentiments among shoppers worldwide.
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