Black Friday Shopping Numbers Expected to Fall According to New PissedConsumer.com Survey
Online consumer advocacy website and review platform, surveyed shoppers about their expected Black Friday shopping habits for 2022. Results show inflation and other factors could lead to a decline in Black Friday buyers.
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
