The Black Friday Shopping Report is one that is annually prepared by management consulting giant McKinsey to understand buyer behaviour on both sides of the Atlantic during the winter holiday season. Certain trends have emerged from this year’s report. Firstly, the inclination towards shopping on Black Friday 2018 is particularly high. More than seventy percent of those surveyed, expressed an interest in doing their bit towards this. The general perception towards buyers and sellers gets better during this period. Customers tend to expect discounts and promotional offers now. Due to the plethora of options, pre- purchase planning tends to be at its minimum during this stage, leading to more spontaneous buys. This presents a major opportunity to retailers. Most of this research by consumers takes place offline, though in- store browsing is also popular. US and Canadian shoppers are more likely to go with in- store browsing, while German and UK ones tend to bring greater expertise before visiting stores. A lot of the purchasing behaviours during this time gets directed by means of omnichannel and digital marketing. The European ones are more likely to wield the former option, the latter will be used by the others. These channel preferences though change with the product category. More than half those surveyed confirmed that they plan to increase their share of online buying this holiday season.

Source:https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/black-friday-2018-consumers-are-eager-more-digital-and-willing-to-spend

Uploaded Date:28 December 2018