New study of 1,000+ US shoppers reveals changing consumer sentiment around Christmas Creep, Thanksgiving store hours, Black Friday & special deals
San Francisco, CA — September 19, 2016 — With more than $626 billion in holiday sales at stake, retailers are changing the way they sell during the holiday season – for example, stocking the shelves with holiday merchandise in early Fall and opening their doors on Thanksgiving Day. But these practices raise key questions about what shoppers want, what rubs them the wrong way, how traditional shopping days like Black Friday are evolving, and what retailers like REI gain (or lose) when they reject the trend.
Released today, RichRelevance’s third-annual Holiday Shopping Survey drills into consumer attitudes and preferences around holiday marketing and merchandising to provide new insight into what shoppers want – and when – from omnichannel retail. Key findings include:
Retailers are gaining ground in the Christmas Creep game
Although most Americans are still irritated to see holiday items appear in the store alongside Halloween goodies, attitudes are changing.
- Six out of 10 Americans (63%) are annoyed or very annoyed when holiday items appear in the store before Halloween – down from 71% in 2014.
- Over half of Americans surveyed (55%) are annoyed or very annoyed when stores open on Thanksgiving Day – down from 65% in 2014.
- Many Americans are shopping early: more than 1 in 4 Americans (27%) had already started their holiday shopping by Labor Day.
Goodwill can be gained by bucking the Christmas Creep trend
REI made news last year when it closed stores on both Thanksgiving Day and Black Friday. Other retailers such as Nordstrom, Dillard’s and H&M made a point of remaining closed on Thanksgiving. When asked about these practices:
- 7 in 10 Americans (73%) said these retailers’ decisions made them like the retailers more.
- Over half (53%) said they are more likely to shop with retailers who remain closed on Thanksgiving Day.
- A comparable amount (48%) stated they are more likely to shop with REI as a result of their decision.
Black Friday is losing ground
Black Friday has traditionally marked the beginning of the holiday shopping season, but consumer sentiments and shopping patterns are changing.
- Only 1 in 10 (11%) Americans feel Black Friday has grown in importance, while 4 in 10 (42%) state Black Friday is less important than it was 5 years ago.
- 6 out of 10 Americans (58%) state that special deals on Black Friday and Cyber Monday do not impact their shopping behavior.
- However, Cyber Monday is gaining ground with 1 in 3 (33%) of Americans saying Cyber Monday is more important than it was 5 years ago.
Millennials are a bright spot for retailers
The coveted Millennial shopper (age 18- 29) behaves differently than other generations.
- Younger Millennial shoppers are more tolerant of Christmas Creep. Early holiday merchandise only bothers half of these shoppers (51% vs. 63% of overall respondents).
- Millennials are also more responsive to deals. 6 out of 10 (60%) say that special deals on Black Friday and Cyber Monday encourage them to shop.
- This digital generation loves Cyber Monday: more than half (52%) think it is more important than it was 5 years ago.
Methodology
This is the third-annual Holiday Shopping survey conducted by RichRelevance to understand consumer shopping patterns and behaviors. The survey of 1,054 U.S. shoppers was conducted in August 2016. Responses were gathered online over a 2-week period.
As digital technology becomes more sophisticated, retailers and other brands are collecting and analyzing more customer data. This data is being used to microtarget campaigns and offer a “personal touch.” But even as consumers become more aware of these efforts, they are not always pleased. Some well-intentioned attempts at personalization still come off as creepy and intrusive—and consumer opinions have been slow to change.
With one of the largest direct competitors, Amazon, Book People needed a solution to wow customers through creating innovative and personalized experiences, without presenting the customer with too much choice.
Read the case study to learn how Book People implemented both Recommend™ and Engage™ to improve conversion rate and remain competitive.
In a retail world with more digital touchpoints than you can count, how do you connect the dots?
Your customers are busier, more distracted and more overwhelmed then they’ve ever been before so understanding their shopping journey is crucial. Your shoppers will be more inclined to spend the time logging in if you can demonstrate that it translates to a more individualized experience from which you can both benefit.
Across verticals, the Account Page or User Profile offers undeniable value in personalizing the shoppers’ journey from start to finish. The trick is understanding how to inspire customers to log in, and how to do it effectively. Join RichRelevance to learn how you can incentivize your customers to login and enhance their experience.
MktoForms2.loadForm(“//app-ab03.marketo.com”, “147-KGQ-594”, 1457);
As many of 79% of U.S. consumers are fine with the idea of scanning a product on their mobile device to see product reviews and recommendations for other items they like, according to RichRelevance. But consumers still have two big ‘no-no’s when it comes to the personalization of shopping.
For one, 67% of shoppers think it’s creepy when retailers use facial recognition technology to identify prior shopping habits and relay this information to a salesperson. Additionally, 64% say they would be creeped out if a salesperson greeted them by name on the store floor because their mobile phone or app signals their presence.
The retail industry is struggling, especially as consumers shift to shopping online.
A Morgan Stanley report from May claimed that by 2020, Amazon would hold 19% of the apparel market share.
Retailers are desperately trying to figure out how to salvage sales and get people into their stores.
One way they’re doing that is by trying to making shopping more “personal” and tech-savvy.