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Holiday shoppers not so confident in Black Friday sales, shopping early this year

Consumers are holiday shopping earlier than ever and aren’t banking on Black Friday and Cyber Monday for making bulk purchases.

October 12, 2015

Consumers are holiday shopping earlier than ever and aren’t banking on Black Friday and Cyber Monday for making bulk purchases, according to a new RetailMeNot Shoppers Trend Report.

The trend, notes an announcement on the study, could indicate that consumers are no longer confident of Black Friday savings.

"Consumers in record numbers are questioning the value of offers on Black Friday," stated Trae Bodge, senior lifestyle editor at RetailMeNot, in the study release. The study was conducted by Kelton Global. "And while this perception appears to be driven by media speculation, it serves as a catalyst for many shoppers to begin preparing and shopping for the holiday season as soon as Labor Day. While early-bird behavior is beneficial for the strategic buyer, RetailMeNot's offer data still suggests that deals during the five days of savings from Thanksgiving to Cyber Monday are stronger on a percent-off basis than in prior weeks," said Bodge

Here are some additional study findings:

• Only 10 percent of consumers surveyed believe that Black Friday savings are worth the wait.
• 85 percent of shoppers expect retailer holiday promotions to begin prior to Black Friday, with more than half (54 percent) saying they expect to see these offers in the marketplace prior to October.
• 51 percent of consumers said they take advantage of deals throughout the year regardless of major holiday sales.
• 45 percent of shoppers are always in deal-hunting mode.

For retailers the changing consumer shopping holiday season trend means a strategy needs to be in place that takes into account the consumer’s goals this year.

"Savvy shoppers are preparing their gift lists, considering budgets and downloading shopping apps that make deal-hunting easier. Additionally, savvy consumers know that discounts are to be had in certain early holiday retail categories like toys, home decor and apparel," explained Bodge.

The survey data reveal shopping in-store will continue to be popular, with 88 percent of those polled stating they're looking for motivation to enter a mall or store.

The top shopping promotion with consumers are monetary rebates.