Black Friday weekend is upon us, and with it, hordes of holiday shoppers. But who are they and what motivates their purchases? We decided to dig into our US consumer survey data and take a look.
With Thanksgiving just days away, the hustle to fulfill that gift list is officially on!
This year those holiday shoppers are expected to spend 47% more than last year. Call ‘em crazy, but don’t be fooled. These consumers aren’t your average Joe (or Jane). And the retailers’ who will come out on top this weekend, will be the ones who understood not just who they are, but why and how they shop.
So to kick of the holiday season, we decided to dig into our US consumer survey data and take a look at these dedicated Black Friday and Cyber Monday shoppers, to see what motivates them to skip the turkey and head straight to the store lines.
‘Tis the season for sales… and hordes of holiday shoppers.
Who forgoes sleep this weekend to battle for parking spaces and scour the internet for holiday deals? According to our numbers, approximately 76 million US adults. And don’t go pointing fingers at the ladies’ fellas, turns out these dedicated Black Friday and Cyber Monday shoppers are pretty much an even 50/50 split.
While age for this segment definitely skews younger (we’re looking at you 44 and unders), probably the most surprising fact about these shoppers is that the highest concentration isn’t residing in major US metro areas… but hiding in small pockets in the Southwest.
Stores in El Paso… I hope you’re prepared!
It’s all a matter of (self) perception.
Happiness. Peace of mind. Sense of belonging. Living a healthy life.
Each of us has a set of values that internally motivates how we act, and in this particular case, how and why we shop.
While you may have thought these holiday shoppers would highly value things like “financial stability” (hence the appeal of this weekend’s mega deals) and “closeness to family” (finding that perfect gift for your loved ones), it appears they are motivated by something a tad more self-centric. Their own self-perception.
Holiday shoppers are 35% more likely than the average US consumer to value “being an influential person” and 26% more likely to value “self-image”. So maybe all of the presents purchased this weekend will have less to do with making the recipient happy… and more to do with maintaining ones status of “best gift-giver”.
More engaged than your average shopper.
Retailers, you better be good this holiday season. They may be more self-centric, but these consumers are also much more engaged than your average shopper. The majority are doing some serious research before they hit up your sales. And if your product/company makes the cut, you can expect half of them to share their experience, good or bad, online with their peers.
The latest and the greatest.
This years’ holiday shoppers won’t be standing in line for just any old thing. They have their eye on something a bit less practical and lot more glamorous (sorry trusty household appliances).
Ease of use, dependability and practicality aside, this weekend the most popular, innovative and luxurious products will come out on top. So retailers, I hope your most coveted, high-ticketed items are already front and center on the shelves, these consumers are ready to be dazzled.
Let the shopping begin!
“Black November” sales may have already started (my inbox has been flooded with sales emails all month) but there’s no denying that are still these diehard holiday shoppers among us who wait for their beloved Black Friday and Cyber Monday deals.
Retailers, we hope you’re ready. They’re a special breed of shopper and they’re expecting to score not just those one-of-a-kind gifts, but experience a self-satisfying shopping experience in the process.
But next week we’ll be able to distinguish the winners; those brands who were able to appeal not just to the right demographic, but who were able to strike a chord at the heart of the matter… the personal values that motivate us to shop.