STUDY: Black Friday Gains Popularity Among Millennials

November 19, 2018         By: Payment Week

NEW YORK (November 19, 2018)ChargeItSpot, the leading provider of cell phone charging stations for leading retailers, has announced the results of its second annual “Black Friday & Cyber Monday Shopping Report.”

The study asked consumers if they would be shopping on Black Friday or Cyber Monday, what they planned to buy, how they searched for the best deals, and how much they planned on spending. ChargeItSpot collected responses from more than 1,000 shoppers at malls across the country using its phone charging stations. Below are the key takeaways from the study.

 

Nearly 50% of millennials will do their shopping on Black Friday

When asked if they would be taking advantage of holiday sales, 79% of millennials said that they would. 51% of millennials said they were planning on going shopping on Black Friday, up 6% from last year. 19% said they would shop both Black Friday and Cyber Monday, and 9% said Cyber Monday only.

Among all age groups,48% of consumers said they plan to shop on Black Friday - an increase of only 2% from last year, 11% on Cyber Monday, and 19% said both.

“Black Friday continues to be the ultimate shopping day and is actually getting more popular amongst young shoppers,” said Douglas Baldasare, CEO and Founder of ChargeItSpot. “Millennials are the instant gratification generation and Black Friday shopping is the quickest way to take advantage of many of the season’s best deals.”

Shoppers were also asked how much they plan to spend on Black Friday and, overall, shoppers plan to spend more this year than last year. 33% of shoppers said they would spend under $100, down 3% from last year. Other responses included $100 - $300 (27%), $300 - $500 (17%), more than $1000 (11%), $700-$1000 (7%), and $500 - $700 (5%).

“The economy is growing and we are seeing that reflected in people’s shopping habits,” said Baldasare. “This holiday season, we can expect shoppers to spend more dollars at the register than they did last year.”

30% of shoppers said they would primarily be shopping at department stores on Black Friday. 29% said they would shop at a clothing/accessory stores followed by shopping at an electronic store (24%) followed by outlet stores (13%) and Big Box superstores (3%). Year over year, shoppers showed a declining interest in electronics stores (down 5%) and an increased interest in outlet stores (up 4%).

When asked where shoppers would mainly look for Black Friday deals and discounts, 43% of shoppers cited Black Friday ads websites like TheBlackFriday.com and BFAds.net as their main source for sales promotions. Other responses included social media (17%), online deal sites like RetailMeNot (16%), mobile coupon apps (13%), newspapers/magazines (5%), and radio/TV (5%).

 

 

Electronics are the most in-demand Cyber Monday item

Check out the chart below for a full breakdown of products shoppers are planning on buying on Black Friday and Cyber Monday. Surprisingly, clothes were the most in-demand products for Black Friday sales. On Cyber Monday, shoppers are looking to buy electronics.

 

ITEM BLACK FRIDAY CYBER MONDAY
Clothes 35% 27%
Electronics 26% 37%
Toys 23% 13%
Home goods 6% 9%
Entertainment 6% 8%
Gift Cards 4% 6%

Shoppers turn to Cyber Monday for convenience

When asked why shoppers might prefer shopping on Cyber Monday over Black Friday, 38% of shoppers said it was to avoid long lines. Other responses included: no wild shopper behavior (24%), ability to shop from home (24%), better discounts/incentives (11%), and better product choices (3%).

Shoppers were also asked how much they plan on spending overall for Cyber Monday. A plurality of shoppers (35%) said they would spend $100-$300. Other responses included under $100 (26%), $300 - $500 (17%), $500 - $700 (9%) more than $1000 (7%),and $700-$1000 (6%).

“Every year, people ask themselves if they will get a better deal shopping on Black Friday versus Cyber Monday. It really depends what you are looking to buy. Both days offer great prices on hot holiday items,” added Baldasare.

 

Even more shoppers feel positively about retailers being open on Thanksgiving Day

Many retailers start their Black Friday sales early, even opening their doors on Thanksgiving Day. But will more shoppers take advantage of Thanksgiving hours? 59% said they were likely to shop on Thanksgiving. 41% said they were unlikely to be shopping on Thanksgiving.

When asked about their overall feelings on retailers opening their doors on Thanksgiving, 66% of shoppers felt positively about this, up 7% from last year’s shoppers, while 34% felt negatively.

“Every year, retailers try to open their doors earlier for shoppers,” said Baldasare. “While Black Friday is considered the kick off to the holiday season, it seems as if Thanksgiving day is the new norm. Our data proves that shoppers appreciate having the option of starting their holiday shopping on Thanksgiving.”

For more information about ChargeItSpot phone charging stations, visit ChargeItSpot.com or connect with ChargeItSpot on Facebook or Twitter.


About ChargeItSpot
ChargeItSpot® saves consumers from their constantly dying phones with free and secure phone charging stations. This locker-based solution can be found in retail stores, malls, casinos, hospitals, and arenas. In retail stores, it’s been independently proven that when people charge, they shop longer, spend significantly more, and become happier customers. Many clients use ChargeItSpot as a marketing platform to win consumer affinity and collect key consumer data such as opt-in email addresses, mobile numbers, and survey responses. ChargeItSpot charging stations are elegantly designed and can be customized to fit any aesthetic. ChargeItSpot serves clients such as Target, Neiman Marcus, Nordstrom, Under Armour, Uniqlo, Westfield Malls, Verizon Wireless, and dozens of other customer-centric brands. Visit ChargeItSpot.com for more info or download the mobile app for ChargeItSpot locations.