Black Friday as we know it today has been around since the early 1980’s, when big box stores revitalized the “holiday” to mark the first official day of the holiday shopping season. It’s origins are much less bright and shiny – the term was originally coined back in 1869 when the US gold market crashed leaving many consumers and Wall Street bankers in financial ruin. Fast-forward roughly 110 years to retailers starting to show a profit this time every year (bringing the balance sheet “out of the red” and “into the black”) after the Thanksgiving holiday.
But new research conducted by Google ahead of the 2018 holiday season produced surprising findings around the latest holiday shopping trends – only about 18% of US shoppers consolidate all of their shopping to the Black Friday-to-Cyber Monday period.
What does this mean for marketers?
Stop putting all of your eggs in the Black Friday basket!
Consumers are researching, comparing and purchasing products over longer stretches of time, which means if you’re waiting to promote your products the week of Thanksgiving, it’s likely too late for the planners out there. That said, don’t fret! Only 1 in 5 consumers conduct all of their holiday shopping this weekend.
Some additional findings the team at Google uncovered:
Who’s looking for the deals?
You may think holiday gifts are a large motivator for shoppers, but 2/3 of deal seekers shopping on Black Friday shop for THEMSELVES!
How are consumers shopping?
It’s not new that mobile-first strategies are a priority for most marketers (especially for eCommerce brands). But these folks are not just purchasing online – they’re using mobile devices while in-store to research and browse. 72% of deal seekers said they use their mobile device to shop and browse. More than half (52%) of deal seekers said they use their mobile device while in-store.
Black Friday and the holiday shopping rush isn’t going anywhere any time soon, but the way we market to consumers is changing. Don’t get left behind – keep mobile top-of-mind and learn where your customers go to research and shop.