More Consumers Plan to Shop on Cyber Monday Over Black Friday
A report by Allocadia, is projecting that more Americans will be opting to do more shopping online this holiday season. Amidst concerns of COVID-19, some 44% of consumers plan to buy online during the holiday shopping season compared to 33% in 2019.
Shoppers’ attention to has also shifted online, as more people plan to participate in Cyber Monday (61%) than Black Friday (52%) this year. Some 65% of shoppers plan to either spend the same amount or less from last year. Forty percent of male shoppers plan to spend more this year compared to 13% of women. Big-box stores seem to be popular this year with 48% of shoppers planning to make purchases online via a big box store. And 41% say they will make purchases in-person at those same big-box retailers.
Cyber Monday to Overtake Black Friday in 2020
Allocadia’s report also points to shifts towards more practical and essential gifts, and evolving expectations around branding and advertising campaigns. Other shifts include:
- Only 23% of shoppers plan to do their shopping in-store in 202o compared to 36% of last year.
- 33% of Americans report they will shop online for both regular items and holiday items, up by 2% from last year.
- More men (62%) plan to make purchases during Black Friday compared to women (42%). Similarly more men (70%) than women (54%) plan to make purchases on Cyber Monday.
- Top places where consumers see ads for holiday deals include television (52%), Facebook (45%), YouTube (39%), and Instagram (28%).
- 57% of Americans plan to purchase gifts through social media from ads or marketplaces.
Physical Stores and COVID-19
The need to avoid crowded stores, maintain social distancing, and limit potential COVID-19 exposure were cited as the primary motivations for shopping online.
More than two-thirds or 36% of Americans say they do not feel comfortable shopping in-store right now. Among those who do not feel comfortable shopping in-store, 41% are waiting until there is a COVID-19 vaccine. Another 29% say they will feel comfortable in 2021. Factors encouraging in-store purchases include a big sale (35%) and a COVID-19 vaccine (35%). Surprisingly 79% of shoppers will consider shopping in-store if they were offered a better sale price.