Ingenico Warns: Mobile Shoppers Will Distrust Christmas in July Discounts
It’s hard to believe, but stores are already starting to get ready for Black Friday shopping. Never mind that Black Friday isn’t until November, even in the UK, but a new report from Ingenico sent our way says that not only are UK firms already getting ready, but they’ll face a new problem: customers just don’t trust those deep discount prices.
Ingenico’s study found that customers are actually skeptical of Black Friday prices. Over half—55 percent—believe that the discounts are actually fake, and even those who shop actively on Black Friday think there’s some chicanery going on. Forty percent of those shoppers believe they’re being actively misled.
That isn’t slowing the pace of shopping much; customers spent 515 percent more on Black Friday than on an average Friday, and the six shopping days of Wednesday through Monday that encompass Black Friday are the six busiest shopping days of the year.
If you’re wondering why the dichotomy exists, Ingenico’s managing director of small and medium-sized businesses Marc Birkner sums it up well, noting “Although many consumers may vocalize their concerns on the discounts, they’re not totally convinced and fear of missing out tends to kick in. We’ve seen that Black Friday checkout abandonment is a third lower than the average day as customers rush to snap up the deals.”
When one budget expert and blogger, the “Money-Saving Girl”, started comparison shopping Black Friday sale items and found the same items would cost 30 percent more just two weeks later, the notion of a “dodgy discount” should go out the window.
While the US has had Black Friday for decades, they’re just getting started with it across the pond. So a certain amount of skepticism makes some sense, and will likely remain the case until the Brits are used to this development. A bit of education may help here, but it’s more likely that shoppers will just have to live with the developments for a couple years before they start realizing that, yes, these discounts are real, and they’re worthwhile if you’re shopping anyway.
Given the next Black Friday is a little over four months out, it’s no surprise to see stores already getting ready for the biggest shopping rush the year sees.