Less than one quarter of consumers to reduce spending this Black Friday, research* reveals
More than four fifths (81%) of Americans will make the most of the 2022 Black Friday sales, with the average shopper set to spend $441, according to consumer research from omnichannel customer engagement platform Emarsys.
Indianapolis, US, November 21, 2022 – Amidst cost-of-living concerns and in the run-up to Christmas, the study of 3,006 consumers suggests that an impressive 76% of us will not decrease our spending, instead opting to spend the same or increase our spending.
Of those splashing the cash this Black Friday, both online and in store shopping will take place — with 62% saying they’ll shop online, 47% saying they’ll shop in store and 17% unsure of whether their Black Friday shopping will take place in person, online or a mixture of both.
When it comes to what shoppers are searching for this Black Friday, the research reveals that 31% will be looking for electronics & devices, 25% for fashion & apparel, 22% for video games and 21% for food & groceries.
The research also reveals how retailers can convince shoppers to purchase with them. When asked what will influence their purchasing decision this Black Friday, consumers said the following matter: size of the deals (41%), free / low-cost deliveries (37%), early sight of deals (28%), confidence in the brand (25%), good returns policies (25%) and personalized deals tailored to products I want (21%). Other things impacting decisions include deals for sustainable products (20%), first access or insider deals (18%) and pick up points in store (14%).
But while consumers have big spending plans this Black Friday, they will be using that cash wisely. 26% think that Black Friday deals are often overrated, and as a result will be carefully looking for the very best deals and the right products for them; 68% would need a discount of more than 25% to convince them to make a purchase they weren’t planning to otherwise.
Faced with these careful consumers, Emarsys — the company behind the research — recommends that retailers focus their efforts on targeting and personalisation this Black Friday, ensuring they hit the right shopper with the right promotion rather than taking a scattergun ‘money off everything’ approach.
As Meghann York, Global Head of Product Marketing & Solution Management at Emarsys, explains, “Consumers in 2022 are more analytical and discerning than ever before – they expect to be, and are in control of their purchasing power. Customers are having to do more with less, so they know how to maximise value for themselves – navigating deals and brands with greater speed and precision and are less likely to pull the trigger on impulse buys.
“There are so many factors influencing customer purchasing decisions this Black Friday, the retailers that will win are those that have listened in the run up and ensured they are meaningfully communicating with shoppers as individuals.
“To avoid getting lost in the Black Friday background, brands must be able to engage with customers everywhere they go, no matter the channel, and personalize interactions across the board. By engaging anywhere, and personalizing everywhere, you can be the brand that defines Black Friday for consumers that are truly loyal to what your brand stands for.”
Through innovation, Emarsys brings power to the marketer – with innovative features including Real-Time Web Personalization which makes Black Friday easier for marketers by allowing them to respond to customer behaviour in the real-time with personalized experiences to maximise conversion and revenue, Account Engagement which empowers sales teams with branded, automated omnichannel journeys and accelerate deal velocity to grow lifetime value and CP & B2B Strategies & Tactics to help marketers execute proven, industry-specific automations that improve growth, retention, loyalty, and revenue.
To further help marketers deliver the right message on any channel, at any time, Emarsys has announced upcoming features including Conversation Channels, which allows marketers to engage customers on preferred chat channels like WhatsApp or Facebook Messenger and Enhanced CDP Integration, which allows marketers to and synchronise consumer identity and Mobile Wallet which allows marketers to launch campaigns using wallet passes.
Emarsys’ Power Up Your Black Friday ebook gives everything you need to know to drive customer growth & revenue before, during, and after Black Friday to help you maximize your holiday season results. Emarsys’ Customer Loyalty Index gives retailers insight into what impacts customer loyalty in the USA, to keep customers coming back after Black Friday.