News

Black Friday loved by younger consumers, not so much by the older shopper

Black Friday is more appealing to the younger consumer as they are the most interested in potential saving.

November 25, 2015

Black Friday is more appealing to the younger consumer as they are the most interested in potential savings and 40 percent of all shoppers say their buying decisions are driven by the size of a deal, a new mXP study reveals.

When it comes to paying for Black Friday purchases, debit card and cash, 24 percent and 21 percent, respectively, are top finance options and 20 percent will use a personal credit card that they intend to pay off by month’s end. Just 0.4 percent are considering using mobile wallet technologies, such as Android or Apple Pay, this holiday season.

"We found that saving money is more important than brand loyalty with younger consumers. Our findings also revealed that older consumers are less influenced by deals and offers and tend to shop for the brands they know and love. Advertisers can use these insights to target messaging development effectively while also optimizing media buys," stated said Scott Spry, COO, mXP, in a company announcement.

The study focused on shopper attitudes and perception of Black Friday. More male shoppers, 9 percent, view Black Friday as not important and a waste of time while 6 percent of women have the same view.

The survey reveals love for Black Friday is mostly among the younger shopper set and decreases with the age of consumers. The report states 31 percent of the 18 years to 34 years old segment loves Black Friday and just 9 percent of those age 55 or older feel the same.