Study: 30% plan to spend less this Black Friday
The market research team at Colling Media, a top-ranked national digital advertising and marketing agency, has conducted a nationwide consumer survey to understand probable consumer spending behavior for upcoming Black Friday and Cyber Monday.
Key findings of the study include:
• 30% of U.S. adults say they are likely to spend less this Black Friday than last year. Only 19% say they plan to spend more.
• 26% say they will spend less money on Cyber Monday than last year, but this is offset by 27% who say they are likely to spend more.
• 76% of consumers name websites as the media where they are most likely to learn about post-Thanksgiving sales, deals, and promotions, followed by email (50%) and TV (32.9%).
• When consumers were asked which media they prefer most to learn about holiday sales, they picked websites first (45.5%). Their least-preferred media for learning about Black Friday and Cyber Monday deals is radio (1.6%).
The full research report and accompanying data charts are available here: National Survey: Consumers Tipped to Spend 30% Less This Black Friday Than Last Year.
“With Black Friday and Cyber Monday potentially being soft this year, it’s extremely important that brands be very smart when spending their advertising and marketing dollars,” says Brian Colling, CEO of Colling Media. “Digital advertising appears to be the way to go this year. Consumers are also saying they enjoy learning about holiday sales via email, so a well-timed marketing automation program might pay huge dividends.”