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Big sales festivals may need a rethink
Purchase behaviourShopper research & insightEvent tie-ins
November’s big online sales days – Singles Day, Black Friday – have become important for brands and retailers in key markets, but a new study shows that consumers, even though they are spending, are underwhelmed.
Spending is up
A report by e-commerce consultancy Wunderman Thompson Commerce, Preparation Prevents Poor Peak Performance, finds that in 2021 average spending grew in the US (+4%) and UK (+95%) on Black Friday, while it dipped in China (-4%) for Singles Day.
Early indications are that spending will grow in 2022, although the pattern may shift: 56% of shoppers in China expect to spend more, 46% in the US and just 28% in the UK.
Shopping for Christmas is a key reason for purchase in the UK (57%) and US (59%); while around a quarter of Chinese consumers are buying ahead of the Lunar New Year, they are more likely to cite necessity (75%).
But shoppers aren’t happy
Across the three markets surveyed, the report finds the majority of consumers – 60% or more – believe brands and retailers should be better prepared for peak shopping periods; typically that revolves around stock availability, the online experience and subsequent delivery times.
A significant proportion also say the shopping days are an anti-climax, as many deals on offer are misleading or just plain disappointing; few believe they are the beneficiaries.
And social is increasingly important
UK: almost a third (31%) of consumers look to social media to find Black Friday deals; a similar proportion wish there were social-media specific deals.
US: four in ten (42%) of consumers rely on social for Black Friday deals; the same proportion wish there were social-media specific deals.
China: more than half (55%) of consumers say they rely on social media to find Singles Day deals; two thirds (63%) wish there were social-media specific deals.
Sourced from Wunderman Thompson Commerce [Image: Pexels]
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