In the run-up to Black Friday, InfoScout’s team of researchers has been examining holiday shopping trends and has developed a number of predictions for the 2016 season. Here are some things to look out for in the weeks ahead:
Super Saturday is on track to overtake Black Friday as the No. 1 shopping day of the season.
Despite retailers’ best efforts to pull holiday shopping ahead of Black Friday, consumer procrastination is actually pulling trips later into December. Super Saturday (Dec. 17) —the last Saturday before the Christmas weekend — looks to continue its recent trend of stealing share of trips from Black Friday. In 2015, Super Saturday saw 12% more trips than the prior year, while Black Friday trips remained flat.
“Black Friday has become an increasingly artificial phenomenon, driven as much by retailer promotion as by its date on the calendar,” said Jared Schrieber, InfoScout’s co-founder and CEO. “Super Saturday, by contrast, offers a more practical reason for primacy in shopping trips — it’s the last weekend to shop before the holiday.”
Being a consumer’s “first stop” is more important than ever.
A smaller concentration of sales on Black Friday means shoppers will tend to complete their trips earlier — which makes the importance of being a shopper’s first stop greater than ever. Last year, for example, InfoScout data showed that shoppers who made Walmart their first stop on Black Friday spent nearly twice as much there as those who made it their second stop. Virtually every retailer achieves a substantial “first stop” benefit (on average, an 18 percent basket size increase).
“Last year, 74 percent of Black Friday shoppers went to more than one store, and many of those went to a third and fourth,” said Schrieber. “On the other end of the spectrum, 38 percent of shoppers who went to Walmart first did not go to any other store on Black Friday. We expect the trend toward visiting fewer stores to accelerate — which makes attracting customers to your store first critically important.”
For TV buyers, it’s all about price and size in 2016, not 4K resolution or other fancy features.
InfoScout’s recent survey of 840 recent TV buyers showed that just one in five TV buyers — 21 percent — purchase the brand they intended to purchase when they walk into the store. The rest either don’t have a specific brand in mind, or change their mind after they enter the store. What’s more, product features, such as 4K resolution or Smart TV functionality, are not the differentiators brands would like them to be. Only 26 percent of TV shoppers chose a specific brand because of product features.
“When we are expecting 55-inch 4K TVs to be sold for as low as $315 on Black Friday, are consumers really buying these TVs because they have 4K resolution? Our data suggests they will be buying them because they fit their wall and their wallet,” says Bob Goodwin, InfoScout’s practice leader for consumer technology.
Look for “2016 Holiday Shopping Trends & Predictions, Part 2” on our blog tomorrow.
Throughout the 2016 holiday shopping season, InfoScout’s team of researchers will be analyzing real-time data from millions of omnichannel shopping trips. This data is mapped to shopper profile data, instantly triggered surveys and more to provide the richest set of shopper insights available.
Business and consumer news media interested in specific holiday shopping data and trends may send inquiries to firstname.lastname@example.org.