CHICAGO--(BUSINESS WIRE)--No need to rush through turkey and stuffing to beat the chaos of Black Friday lines; this Thanksgiving U.S. shoppers can finally have their pumpkin pie and eat it too. New survey data from Market Track, LLC, the leading provider of advertising, promotional, brand protection and pricing intelligence solutions in North America, suggests more U.S. shoppers intend to stay home this Black Friday weekend.
In a nationwide survey of 1,000 U.S. shoppers, only 30% of respondents said they would shop in-store this Thanksgiving compared to the 50% that planned on ditching dinner in 2016. Participation rates for Black Friday look equally dismal with only 40% of respondents expecting to brave the sales floor. While the outlook for in-store shopping this Black Friday weekend is bleak, survey respondents cited Walmart as their top destination for in-store shopping this holiday season.
“The decline in both store traffic and positive consumer sentiment towards Black Friday in-store events is well-documented. The reality is the battlefront has shifted to digital commerce, and that trend is only going to pick up steam,” said Ryne Misso, Director of Marketing at Market Track. “This holiday season, look for Black Friday to morph into Cyber Friday, where the top deals and unique shopping experiences will take place, perhaps first and foremost, online.”
With the bulk of consumers planning to stay home to feast, Amazon’s prowess in the online sector continues to grow. Over 80% of shoppers plan to shop at the retail e-commerce giant this year compared to the already astounding 74% that planned to in 2016. Regardless of where shoppers make their online purchases, the majority believe that the best deals on the most popular holiday gifting items—electronics, TVs, and sporting goods—can be found online versus in-store.
Despite the sizable shift to online shopping this holiday season, social media remains in the background. Merely 5% plan to look for sales and deals on social media sites and only 21% plan to make purchases directly from platforms like Facebook, Instagram and Pinterest.
Based on both the survey and recent shifts in the retail landscape, the researchers at Market Track predict the following trends to watch for this 2017 holiday shopping season:
- Fulfillment: Anytime, Anywhere: Technology has enabled shoppers to exist in a perennial “buy” state, and successful brands and retailers have become experts at seizing the moment of influence, whenever and wherever that may be. This holiday season, retailers must make the purchase easy whether a shopper transacts online, on their phone, in the store, on social media, or via other digital avenues, and they must present any and all methods of fulfillment to ensure that, no matter the shopper, the experience is seamless.
- “Alexa, buy that TV for me”: Prime Day provided an early look into the direction of voice commerce, as Amazon educated Prime Day shoppers on how turn Alexa into their own personal shopper. Look for Amazon, Walmart, and Google to integrate voice commerce into their holiday shopping experience, offering deals that can only be unlocked by first stating “Alexa” or “Ok Google.”
- Grocery as a differentiator?: Now that Amazon’s endless aisles are stocked with countless 365 products and other consumables, it only seems natural that their expanded assortment may play a role in holiday shopping. Need some game day snacks to go with that brand new flat-screen TV? Amazon may have you covered this holiday season by incentivizing holiday gift purchases with offers on food, beverage, and other grocery products.
- Stores aren’t just for shoppers: Since when does going to the store mean you have to buy something? Retailers will prep their store locations to deliver an experience to shoppers this holiday season to ensure their traffic numbers keep pace. And we’re not talking sitting on Santa’s lap. Look for demos of the latest VR technology, taking drones for a test drive, tasting coffee from the latest countertop barista, and much, much more.
About the Survey
Market Track conducted a survey of 1,000 shoppers in September 2017. Shoppers were asked about their own holiday shopping behaviors. Survey respondents represented even distribution across gender and representative sampling across age groups.
About Market Track
Headquartered in Chicago, Illinois, Market Track is the leading provider of subscription-based advertising, brand and pricing intelligence solutions in North America. Through monitoring trade and promotional advertising, pricing and e-commerce activity, brand protection and competitive advertising activity, Market Track provides the most comprehensive coverage of key media channels available. Market Track’s solutions enable advertisers, agencies, retailers, and manufacturers to efficiently monitor and analyze causal data, creative execution, and ad spending to maximize the value of their marketing campaigns. Clients use Market Track’s SaaS solutions to determine how competing retailers, products and brands are being advertised, priced and promoted both in-store and online. The company’s granular creative assets and data cover nearly every retail trade class, product category and media channel. For more information, please visit www.markettrack.com.