Black Friday’s Charms Diminished but Still Tops Shopping Day, Reports NPD
- Gen Z and Millennial consumers are most likely of all generations to shop on Black Friday.
- E-commerce activity, increases by more than 30 percent between the holiday season’s lowest and highest points.
- Last year US consumers made an average of 5.5 in-store and 3.6 online purchases during the week of Thanksgiving.
Despite ‘Black Friday’ themed deals that begin well before Thanksgiving, Black Friday has not lost its lustre. The NPD Group’s receipt mining service reveals that Black Friday 2018 was the top shopping day of the year for both in-store and online US consumer spending.
This year, 17 percent of consumers plan to wait to start their holiday shopping on Black Friday – the most in recent history, according to insights from NPD’s 2019 Holiday Purchase Intentions Survey.
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“Early deals get some attention, but many consumers will wait for the real thing to get their holiday started,” said Marshal Cohen, chief industry advisor. Black Friday may not have the same bustle as it did ten years ago, but it has retained its holiday spirit, The NPD Group.
Low fluctuation in in-store purchase frequency
The week of Thanksgiving and Black Friday is still when the biggest jump in holiday shopping activity happens. Last year US consumers made an average of 5.5 in-store and 3.6 online purchases during the week of Thanksgiving. But, e-commerce gets a bigger bump in activity, increasing by more than 30 percent between the holiday season’s lowest and highest points, while in-store purchase frequency only fluctuates 12 percent.
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Online shopping, a more dignified event
Online shopping and deals that span well beyond Thanksgiving weekend have calmed the commotion of Black Friday, presenting younger consumers with a more dignified shopping event than Gen X and Boomers, who fought the crowds for door-buster deals remember a very different kind of day.
“Retailers who can tap into these emerging consumer groups, and ease some of the post-Thanksgiving frenzy will be able to maximize late-season spending for a strong holiday finish.”
Gen Z and Millennial consumers are most likely of all generations to shop on Black Friday, and a third of them plan to spend more than they did last year. This means new opportunities for retailers vying for holiday dollars.
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