How Do Buyers Plan to save big on Black Friday Deal? - Technewsky

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Thursday, 23 November 2017

How Do Buyers Plan to save big on Black Friday Deal?



Black Friday in 2017 is going to be very huge event in the UK, as 81% of buyers or consumers are planning to go on a shopping splurge and sweep up the best offers. In the US, about 44% of customers said they are mainly focus forward to the shopping season.

Awaking this information as early as now could help you prepare and get a bigger piece of the pie.

Of the 3,226 consumers polled by Periscope By McKinsey, which offers marketing solutions and analytics tools, for their Black Friday 2017 Shopping Report, 31% of UK consumers and 36% in the US said that they are doing their shopping online and in-store.

The question now is: Can you give consumers what they're looking for online and offline?

If your answer is a big YES, then good for you as you're more than ready to join the race.

Now, if you said no because you are only selling through one channel, which is either online or in a bricks-and-mortar store, consider teaming up with somebody from the platform which you don't sell on.

After all, it's very commonplace to hear big-box retailers collaborating with online shops or vice versa nowadays; take the Amazon-Whole Foods partnership as an example.

However, when it comes to having the upper hand, it's got to be online stores as they triggered the Black Friday craze-in the UK at least.

Based on the Periscope study, 37% of UK consumers said they have grown to like Black Friday more as they shop online, while 29% said it's one of their favorite shopping events.

Factors that trigger Black Friday shopping

Steep discounts and special promotions that are not offered at other times of the year are the main factors that prompt consumers to spend more on Black Friday.

As stores offer high-quality products at extremely low prices, many people see it as an opportunity to start their Christmas shopping early than wait until later when prices go back up.

Personalized marketing is another factor that influences purchasing decision; consumers prefer brands that talk to them.

According to the survey of Periscope, 38% of UK shoppers are more likely to go for a brand that will give them early-bird discounts, while 43% of the respondents said additional discounts matter more.



They have set their sights on electronics and clothes

It looks like this year's Black Friday is going to be favorable to electronics and clothing retailers.

Although the Periscope study showed that their respondents intend to make purchases across all product categories, it also revealed that 52% of them in the UK and 58% of them in the US have Consumer Electronics at the top of their list.

Clothing placed second, while Movies, Books and Music came in third.

Other categories that were also mentioned in the poll include: Beauty and Fragrances, Toys, Grocery and Beverages.

Mobile devices will dominate

While desktops and laptops will continue to be the primary shopping tools of 45% of shoppers come Black Friday, mobile transactions are expected to zoom.

31% of shoppers in the UK and 26% in the US said they are going to make purchases with their smartphones, whereas only 16.5% and 20.5%, respectively, did so last year.

So if you haven't got a mobile responsive website that works across multiple devices, you better get down to it before Nov. 24, which is just a month away.

Or perhaps, you will find inspiration from these words of Brian Elliott, managing partner of Periscope by McKinsey:

"Buyers excite-mate for Black Friday offers in the US and UK has flowed this year, with more groundwork to shop, in more class, with more expendable budget. There is a simply opportunity for those retailers that aware how their consumers shop in an Omni channel arranging and therefore target on creating shopping skills that tie their online and physical channels together. We aware from the analysis that shoppers have a purchasing list and are optimizing online already now, that means they are providing you clues about what they want. Stores that can use that information to make personalized adverts and deals, stand a much higher opportunity of fix sales, and making Black Friday 2017 their biggest ever."


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