Commentary

Cyber Monday Eclipses Black Friday

According to new research from Euclid that shows this holiday season 72% of shoppers are most excited by Cyber Monday, but retailers have the chance to draw them into physical locations by capitalizing on convenience factors unique to stores, says the report.

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Euclid’s Evolution of Retail, 2017 Holiday Physical and Digital Retail Trends report, which highlights shopper trends and holiday season behavior in retail stores, is based on a commissioned survey of more than 1,500 U.S. consumers. According to the report, Cyber Monday leads the pack in consumer excitement (72%) followed by Black Friday and the day after Christmas (62% and 55%, respectively).

The findings make it clear that e-commerce continues to build momentum, but also that stores maintain a key role in the buying journey. 75% of consumers ages 18 to 34 visit a store on a regular basis to see a product and then purchase it online later. Thus, as the lines between physical and digital continue to blur, retailers should become more channel-agnostic, says the report.

The survey report also found that price was the main driver in choosing between retailers this holiday season. However, customers also demand more convenience this time of year, and it isn’t just about having a convenient store location, says the report. 82% of shoppers value getting in and out quickly when shopping in-store over the holidays, for instance.

 Key findings from the survey include:

  • Black Friday loses its allure as consumers’ favorite in-store shopping day: When asked about in-store shopping specifically, more than 60% of consumers are likely to shop in physical stores or malls on the day after Christmas (63%) followed by Black Friday (60%) and Super Saturday (56%). 
  • Holiday purchases will happen anywhere: 55% of consumers often visit a store to check out a product in person but then purchase it later online. 
  • Make gifting simple to win store shoppers: Male shoppers are more inclined to visit a retailer if it has made gift-giving simple with curated and personalized gift selections in-store. (46% of men versus 27% of women).
  • Online ads and storefront both drive awareness among men: Men are more inclined to visit a store if they see a great deal displayed in the window (60% of men versus 55% of women). Men are also more likely to be drawn to visit a particular retailer by an online ad (61% of men as compared to 54% of women). 

Brent Franson, CEO of Euclid, concludes by saying "… give the people what they want… this holiday season it’s convenience… you don't have to be Amazon to deliver the perfect gift with no hassle…  Brick-and-mortar can… but they’ll need to couple new in-store experiences with the convenience factor… “

 To download a free copy of Evolution of Retail: 2017 Holiday Physical and Digital Retail Trends report, please visit here.

 

 

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