Once Concentrated on Black Friday and Cyber Monday, Sales Have Expanded to Three Full Cyber Weeks
RetailMeNot Data Shows Black Friday-Messaged Deals Started Almost a Full Week Earlier Than in 2017
RetailMeNot, Inc., released additional holiday insights about consumers, whose expectations for in-store experiences and deals continue to rise for Black Friday to Cyber Monday.
RetailMeNot data shows Black Friday-messaged deals started almost a full week earlier than in 2017, and the deals are expected to last through the weekend after Cyber Monday, resulting in three full weeks of Black Friday and Cyber Monday deals. In fact, major retailers such as Target, Kohl’s, Best Buy, Macy’s, Amazon and JCPenney began issuing Black Friday deals early.
During the three-week period, RetailMeNot historically sees deeper than average discounts compared with the rest of the year, especially in the categories of toys and games, clothing, and travel.
“We are already seeing an incredibly competitive holiday season among retailers who are trying to capture early market share,” said Marissa Tarleton, chief marketing officer, RetailMeNot. “This means holiday sales for retailers will be less concentrated on the days of Black Friday and Cyber Monday, and is great news for holiday shoppers who want more time to shop.”
RetailMeNot research shows that 60% of consumers surveyed plan to start shopping for gifts before Black Friday, and 78% plan to shop during the Black Friday to Cyber Monday weekend. Consumers plan to spend an average of $803during the Black Friday to Cyber Monday weekend, up from an average of $743 last year.
Average amount shoppers plan to spend on:
- Kids: $247
- Significant others: $193
- Parents: $116
- Siblings: $101
Black Friday wish lists are topped by:
- Consumer electronics: 68%
- Clothing: 56%
- Shoes: 41%
Additionally, 1 in 4 shoppers will be looking to purchase appliances during this time frame, and 70% of shoppers plan on purchasing experiences as gifts this year.
Filling the Toys “R” Us Void
Given that the average parent plans to spend most on children this holiday season, the toy category is one of the most important in a post-Toys “R” Us world. RetailMeNot survey data shows 87% of parents plan to shop in-store for toys, and many retailers have shared plans for bigger investments and in-store events to capture that opportunity.
Of parents planning to buy toys, 77% are shopping at big box stores (e.g. Target, Walmart), while 37% are shopping at department stores (e.g. Macy’s, Kohl’s), 25% will patronize warehouse stores that require a membership such as Costco or Sam’s Club, and 15% will shop at a local children’s store. Among parents who plan to shop for toys online this holiday season, 64% said they will do so with Amazon.
In terms of what products will be purchased, RetailMeNot predicts the following to be the hottest toys this season: Pomsies, Scruff-a-Luvs, Grumblies and a return of the Fingerlings and L.O.L. Surprise! toys.
E-Commerce Is Important, But Brick-and-Mortar Stores Remain Dominant
Shoppers may be more digitally connected than ever before, but retailers should not underestimate the power of in-store opportunities. In fact, 86% of consumers plan to go in a store this season, and on average, they will be going in a store at least once per week before Christmas. Once in a store, many are using their phone to present mobile coupons (35%) and compare prices among retailers (34%).
Key reasons consumers like to shop in-store:
- 48% like to see and feel gifts
- 45% say in-store shopping is faster
- 41% find more and better deals
“Consumers want an easy, fun experience while shopping and the best way for retailers to deliver is excellent customer service and an easy omnichannel experience,” said Tarleton. “Investments have already been made in improving the online to in-store experience, and smart retailers will continue to use the mobile device to link customer’s online behavior to their in-store shopping habits.”