As brands and retailers firm up their strategies to boost sales this Black Friday, U.S. consumers, too, are busy compiling their must-have lists. (Adobe Analytics predicts $5.9 billion in online revenue will be generated from this year’s Black Friday sales, a 17.2 percent increase from 2017.)
In a survey of 1,844 American shoppers, online marketplace OnBuy.com found 81 percent are likely to spend their hard-earned dollars on appliances and electronics — a longtime leading category for the mega sales event. The second-most-in-demand category (73 percent) is clothing and shoes for adults and children. Sporting goods is ranked last, with only 23 percent of buyers looking to purchase athletic equipment.
Driven by the appeal of exclusive day-of discounts, 75 percent of consumers believe shopping on Black Friday is the best opportunity for them to snag expensive products that are marked down. The report also found that 43 percent are more influenced to make a purchase by ringing product endorsements from friends and family as opposed to advertising campaigns (37 percent).
“With many retailers’ financial performance primarily defined by how well they do over the holiday shopping season, Black Friday will provide them with the first real opportunity to drive sales and revenue in the run-up to Christmas,” Cas Paton, managing director of OnBuy.com, said in a statement. “Subsequently, retailers will have a whole host of unmissable offers and discounts to capture the attention and wallets of consumers. This research provides a comprehensive insight into how Americans intend to splash their cash on the big day itself — with some products notably set to be more desirable than others.”
A typical shopper will spend about $515 and, after factoring in discounts, will save an average of $1,094 — and in light of a strong economy and growing consumer confidence, the outlook appears solid for this year’s Black Friday.
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