First, consumer participation in Black Friday and Cyber Monday is increasing
According to Shopify’s Black Friday Cyber Monday Spending Forecast Survey, 67% of U.S. consumers said they plan to shop during Black Friday Cyber Monday this year (similar to last year), while consumers in Italy (86% up from 84%), Germany (65% up from 61%), and Canada (61% up from 50%) expressed higher interest compared to 2020. In many countries, Black Friday Cyber Monday shoppers plan to spend more in 2021 compared to the previous year, including the United States.
Secondly, Black Friday and Cyber Monday are no longer just a weekend, but represent an entire peak season.
As some brands hope to seize the opportunity in shipping and supply chain delays, many promotions this year have started early, and consumers are planning to seize the opportunity when shopping. As of early October, more than a quarter (27%) of U.S. Black Friday and Cyber Monday consumers surveyed by Shopify said they have begun looking for peak season discount products, with similar results in Canada (25%), Germany (23%), the United Kingdom (22%) and New Zealand (22%).
Third, consumers are more likely to shop in-store and online
Due to the ongoing impact of the pandemic, consumers purchased almost all of their goods online last year. Although online sales are expected to continue to exceed physical store sales this year, many consumers plan to shop both in stores and online.
In the U.S., plans to shop both online and in-store increased by 11% from 2020, with 59% of consumers saying they plan to take a hybrid approach to shopping this year. In Italy, 59% of consumers said they plan to buy both online and in-store (up 10% from 2020), while 50% of Canadians (up 5% from 2020), 47% of Germans (up 9% from 2020), and 43% of Australians (up 6% from 2020) said they would shop both online and offline.
Fourth, young people are more likely to consume directly from social media channels
Shopify's survey shows that young Black Friday and Cyber Monday shoppers (18-34 years old) are more likely to buy directly from social media this year compared to those over 35. In the United States, 21% of young consumers are more likely to buy through social media, followed by 20% in the Netherlands, 22% in the United Kingdom, 27% in Australia, and 25% in New Zealand. Shopify Black Friday Cyber Monday |
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