Whether shoppers are doing most of their shopping on Black Friday, over Thanksgiving weekend, or on Cyber Monday, each have a clear goal in mind. Those venturing out on Black Friday tend to fall into one of two modes of focused shopping: the first mode is, of course, shopping based on price. The second mode is quite the opposite—and centers around the experience, or ritual of getting up early with family or friends the morning after the holiday to look for quality items. Thanksgiving weekend shoppers, while slightly dipping down into the price-sensitive realm, are mostly after the novelty that comes with shopping during this time frame. And Cyber Monday shoppers are mostly after saving time and buying quality items. Knowing bigger-ticket items, like flat-screen TVs, are typically purchased on this day, it’s no surprise that quality is given high importance here. Also, the time factor is likely another big benefit in an effort to avoid pushing through the large crowds shopping in the store.
While some brands may continue to play in the price and time areas of the value equation, we expect that more contemporary brands will use more experiential merchandising techniques, playing up the quality of their products this season. Which school of thought will your brand adhere to this holiday season?
For more Holiday Shopper data, you can click here to download the latest edition ofThe Checkout – Issue 7.10.