Nearly 70% of consumers might sit out this season’s biggest holiday shopping day according to a new Black Friday survey conducted by PissedConsumer.com. That includes 7% of those surveyed who previously shopped on Black Friday.
While the ongoing pandemic had minimal impact on planned shopping decisions at the time of the survey, inflation was cited by 8% of respondents as a reason they won’t shop this Black Friday.
The survey also showed a slight preference for Cyber Monday deals over Black Friday sales, showing more spread-out holiday shopping could also partly explain the shift in expected buying habits.
“Online reviews are expected to have a big impact on Black Friday shopping,” said Michael Podolsky, CEO of PissedConsumer.com. “Our survey shows 85% of shoppers intend to read online reviews before making their Black Friday purchases, with 82% saying negative reviews impact their buying decisions. In addition, to review sites like PissedConsumer.com, shoppers plan to check reviews on search engines, major retail sites, company websites, and social media.”
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Here are more findings from the PissedConsumer.com 2022 Black Friday survey:
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- 69% of respondents said they have no plans to shop on Black Friday this year.
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- In addition to the crowds (18%) and feeling manipulated by retailers (24%), 8% of those surveyed cited inflation as the primary reason they won’t shop this Black Friday.
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- Most consumers surveyed expect to spend less in 2022 than they did on last year’s Black Friday sales. For example, those who spent $1000 or more in 2021 dropped from 21% of shoppers to only 12% expected to spend in the same range this year. There are also 19% of respondents still undecided about this year’s spending.
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- More surveyed Black Friday shoppers expect to shop online than in physical retail stores. While 45% of consumers plan to shop both ways, 38% plan to shop online only with just 16% planning to shop solely in-store.
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- Electronics are expected to be the most sought-after Black Friday purchases, with 74% of buyers looking forward to those deals. The next most anticipated products are clothing and footwear with 59% of shoppers planning Black Friday buys. Toys and games came in third with 36% of respondents planning to purchase them in 2022.
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- This year consumers are looking forward to Cyber Monday deals slightly more than Black Friday sales, coming in with preference levels of 16% and 15% respectively. However, 57% of respondents cite no particular favorite holiday shopping day or event.
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- While 40% of those surveyed said they haven’t decided which stores they’ll frequent this year, major retailers topped the list for those with a plan.
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- When asked how deep discounts need to be to entice them, 42% of consumers said they would need to see sale prices of 25-50% off. Another 20% expect even deeper discounts of 50-70% off regular prices during Black Friday sales.
- Businesses interested in reaching consumers with their Black Friday discounts should turn to online strategies. Findings show 61% of those surveyed say they learn about these deals on company websites or in online ads, and 60% find them via email marketing campaigns