Physical stores to win out on Black Friday, Deloitte says
Seventy percent of consumers who plan to shop on Black Friday plan to do so in stores, while 47% plan to shop online, down from 55% who said they planned to shop online last year, according to a survey from Deloitte. Three-quarters of Americans plan to shop over the Thanksgiving holiday weekend, the survey found. People surveyed plan to spend an average of $427 between Thanksgiving and Cyber Monday, up from their intentions to spend $400 in last year’s survey.
The momentum in stores is expected to continue through the weekend, as 52% plan to shop in-store Saturday, compared with 24% online, a drop from 36% online in last year’s survey.
In other findings:
• Despite the showing in stores, shoppers expect to spend 52% of their holiday weekend budget online and 46% in physical stores.
• Nearly three-quarters (72%) of respondents plan to shop online on Cyber Monday.
• Early-morning Black Friday shoppers will outspend others, as those shopping between 1 a.m. and 5 a.m. plan to spend an average of $225. Those shopping at 6 a.m. expect to spend $147, followed by $161 between 7 a.m. and 9 a.m.
• Socializing is a primary motivator for spending time in retail stores, as 64% plan to shop in-store with family or friends over the weekend.
• Traditional department stores are the No.1 physical store destination for the weekend, with 51% of shoppers planning to visit them, followed by mass merchants at 39% and electronics/office supply/computer stores at 38%.
• Nearly four in 10 (37%) people surveyed say they haven’t started any of their holiday shopping yet.
• Clothing and accessories are the top item people plan to buy over the weekend, cited by 65% of respondents, followed by electronics (55%) and toys and hobby items (47%).
• Regardless of where people shop, many will rely on digital shopping tools for assistance. Thirty-eight percent expect to buy something online while in-store due to better pricing and/or price matching, and 36% say they’ll be influenced by deals from a mobile device while in-store over Thanksgiving weekend.
• Consumers also may not have much tolerance for website performance issues, as 46% said they’ll use another retailer rather than wait if an online site has technical problems.
“Consumers are gearing up to increase spending, and while online is expected to pull more of shoppers’ budgets, there is still a healthy outlook for traffic in the stores, particularly on Black Friday,” said Rod Sides, vice chairman, Deloitte LLP and U.S. retail, wholesale and distribution leader. “That’s a tremendous opportunity to elevate the customer experience and create a strong rapport to drive sales. It starts with the digital part of the shopping journey, delivering creative and personalized promotions and touch-points that create inspiration before the holiday weekend. That follows with an in-store experience that delights with displays, merchandise and seasonal atmosphere, along with services that make it easy for customers to find unique items and make quick transactions.”