The sad truth is that Turkey Thursday may one day put Black Friday out of business. But still, understanding Black Friday shoppers and what drives them to venture out even before the roosters crow can help retailers offer the deals that will fill their stores and their coffers.
When they hit the malls or the big box stores on Black Friday – or even Thanksgiving Day – these shoppers are looking for the best deals on the best products for the season.
On this day, however, it’s not about being loyal to any brand. If I want a 60-inch, hi-def, flat screen TV, I’m not necessarily looking for my favorite brand.
No sir, it’s all about the product – the 60-inch TV that’s on sale – at the best price, at any store. And the kinds of deals that really lure these Black Friday shoppers in are those offering percentage discounts.
That’s according to the data analysis of the responses of 1,000 Black Friday shoppers from across the country by research firm Ask Your Target Market, which recently released the 2013 Find&Save Black Friday Shopping Survey.
The analysis of the data has also uncovered the strategies Black Friday shoppers use for planning and executing their shopping trips.
The fact is 67% of the shoppers not only research and map out plans for Black Friday shopping, they also have different strategies every year based on where the best deals are.
Even in this digital age, when it comes to getting information about those deals, shoppers still turn to traditional media sources like newspaper circulars, television, and direct mail for the news on Black Friday sales.
Most shoppers (36%) say newspapers are the top source of information, according to the survey. Although only 29% of shoppers counted emails as the number one way to get word of the best deals, 82% said they would be interested in receiving emails on Black Friday sales.
Mobile devices are becoming more important to Black Friday shoppers when they’re out and about, the survey notes.
Two-thirds of people either use or would consider using their mobile devices to help with Black Friday shopping – mainly to check prices or use the geo-locator to find sales near them. They also like using their mobile devices to browse Black Friday circulars on the fly.
Additional survey findings include:
- If you can’t do the time, forget about Black Friday shopping. About 50% of the shoppers surveyed spend between three and five hours shopping.
- Black Friday is more popular than Cyber Monday. Black Friday edged Cyber Monday by 6% as the shopping holiday of choice among Black Friday shoppers.
- Holiday shopping begins in October: About 30% of Black Friday shoppers begin their holiday shopping right after they put their Halloween costumes away.
- Shoppers compare retailers in advance: About 45% visit the websites of three to five different retailers looking for sale information when planning for Black Friday.
Next Steps:
- To help you get the most out of your online store this holiday season, we invite you to watch our complimentary on-demand webcast: “Gain Insight into Your Brand’s Online Retail Shelf Space.”In our webcast, you’ll learn how Catalyst combines its proprietary eShelf Engine technology with Spotfire analytics and interactive visualizations to deliver deep insights to the competitive positioning of your products on online retail shelves.
- Subscribe to our blog to stay up to date on the latest insights and trends in data analysis and retail.
Linda Rosencrance
Spotfire Blogging Team
