Our recent national survey of 810 consumers found that half of respondents shopped the Black Friday / Cyber Monday weekend.
Among those who shopped, 63% shopped exclusively online. But among those aged 55+, who are more at-risk for COVID-19, 77% shopped exclusively online. Only 8% of shoppers did all of their shopping in-person.
77% of respondents shopped for others, and 54% shopped for themselves. The lower proportion of self-shoppers is likely due in part to financial constraints caused by layoffs and furloughs.
Similarly, gift giving circles are tightening – shoppers are focusing on immediate household members and less on extended family/friends/co-workers.
Respondents cited financial constraints as the most influential factor that impacted their shopping over the Black Friday/Cyber Monday weekend.
Shoppers continue to hope for another stimulus check when considering how much holiday shopping they can do.
What were the demographics of the Black Friday / Cyber Monday shopper?
- Ages 18-34 were much more likely to have shopped
- More affluent households were more likely to have shopped, and more likely to have shopped for themselves
- Urban households were more likely to have shopped for themselves
- Rural households were more likely to have not shopped the Black Friday weekend at all
Where did people shop, and how did they become aware?
63% of shoppers visited Amazon during the Black Friday / Cyber Monday weekend. The most common source of awareness about deals was from retailers’ own websites/apps.
Retail channel performance during Thanksgiving week 2020
We analyzed consumer spending using our Transaction panel of 6 million shoppers and found the following trends in how much the average consumer spends across categories.
Every category, including Amazon, saw declining year-over-year momentum heading into Thanksgiving week due to fewer transactions and smaller basket sizes. That said, several channels were still up year over year in consumer spending:
- Amazon up +40% YoY
- Home Improvement (i.e. Lowe's, Home Depot) up +30% YoY
- Liquor (i.e. BevMo, Binny's) up +18% YoY
- Sporting Goods (i.e. Dick's, Bass Pro Shops) up +7% YoY
- Office Supplies (i.e. Staples, Office Depot) up +2% YoY
- Beauty (i.e. Sephora, Ulta) down -4% YoY
- Electronics & TelCo (i.e. Best Buy, Verizon) down -4% YoY
- Apparel (i.e. Gap, H&M) down -20% YoY
- Department (i.e. Macy's, TJ Maxx) down -26% YoY
Why did shoppers choose the retailer they did?
The primary reasons why shoppers chose either online or in-person retail locations was based on convenience: either in physical location, or fast delivery.
Deals and low prices were also important factors. However, many shoppers went to a retailer/website simply because they assumed they'd have a good deal - not because they were driven by any specific advertisement.
Brands with strong, long-term positioning around Value are likely benefiting from shoppers' implicit assumption that they will get a good deal.
Shoppers had mixed experiences with in-store shopping
While most shoppers agreed that stores followed COVID-19 safety protocols, nearly half of them reported bigger crowds than expected.
In-person shoppers made at least one incremental purchase, but most faced out-of-stock issues: they had to hunt for specific items and were unable to find it in-store or online.
Invest in insights, get 1 CX solution for free
If you partner with Sense360 by Medallia before the end of January, you'll receive one of the CX solutions below for no additional cost.
Perfect website orders with Medallia Digital
|Streamline contactless curbside pickups with Medallia Zingle
Drive repeat purchases by simplifying pickup operations via automated texts and recover guests in real-time when issues inevitably happen.
|Modernize market research with Medallia’s Insights Suite
Crowdsource ideas virtually and validate new offerings with video-enabled focus groups.
|Humanize contactless experiences with Medallia LivingLens
Easily harness the power of video to capture guests’ opinions, motivations and feelings for deeper insights.
These solutions require minimal implementation time and IT resources, so if you're interested in experimenting in 2021, this will be an easy way to do so. Contact us for more information.