Consumer Behavior
Shoppers busy shopping ahead of Black Friday, Cyber Monday
September 14, 2023
More than half, 67%, of consumers will be shopping for holiday gifts ahead of Black Friday and Cyber Monday.
The data point was revealed in a Radial Inc. survey that stated consumer behavior is likely being driven by external factors.
"Consumer shopping habits continue to evolve driven by external factors such as inflation and brand factors such as loyalty and product preferences. Brands must remain finely attuned to these shifting dynamics to align their brand experience with their customer expectations throughout the entirety of the shopping journey," Laura Ritchey, Radial CEO, said in a press release on the findings. "Gaining a deep understanding of these nuanced preferences equips brands to craft a tailored shopping experience that engages consumers during the bustling holiday season and well into the future."
The survey also revealed promotional sales and discounts (64%) are highlighted as a top factor driving purchasing decisions, demonstrating the significance of affordability during this period. And 82% of respondents indicated that they will either reduce the amount of gifts or reduce their overall spend — either in gifts, food or decorations — in some way this holiday season.
According to Radial's research, respondents have clear preferences and concerns about how and when their orders arrive. The survey uncovered a 15% decrease in expectations for two-day delivery compared to last year, suggesting changing priorities. Around 37% now find three- to five-day delivery acceptable, and 35% are comfortable waiting a week for their orders.
Radial conducted the survey with Dynata in July 2023, targeting 1,000 general U.S.-based consumers over 18 years of age.
