Study: Cyber Monday set to overtake Black Friday as bigger shopping day
Tired of crowds, long lines and seeking more convenience, consumers are expected to shop more on Cyber Monday this holiday season than on Black Friday.
One big reason is that consumer expectations are at an "all time high," according to a Euclid survey.
Brick-and-mortar retailers can survive the growing love for Cyber Monday if they capitalize on unique factors, noted a press release on the study, "Evolution of Retail, 2017 Holiday Physical and Digital Retail Trends," which polled more than 1,500 U.S. consumers.
"Retailers that still think online and offline don't influence each other are deluding themselves," said Brent Franson, CEO of Euclid, in the release. "If you're still looking at individual store performance, stop. Want to nail it? Figure out how online and offline channels feed each other — and which marketing campaigns are reinforcing that path to purchase."
Key findings include:
Black Friday loses its allure as consumers' favorite in-store shopping day: When asked about in-store shopping specifically, more than 60 percent of consumers are likely to shop in physical stores or malls on the day after Christmas (63 percent) followed by Black Friday (60 percent) and Super Saturday (56 percent).
Holiday purchases will happen anywhere: 55 percent of consumers often visit a store to check out a product in person, but then purchase it later online.
Make gifting simple to win store shoppers: Male shoppers are more inclined to visit a retailer if it has made gift giving simple with curated and personalized gift selections in-store (46 percent of men versus 27 percent of women).
Online ads and storefront both drive awareness among men: Men are more inclined to visit a store if they see a great deal displayed in the window (60 percent of men versus 55 percent of women). Men are also more likely to be drawn to visit a particular retailer by an online ad (61 percent of men as compared to 54 percent of women).