Black Friday may be the name you hear the most when it comes to the best shopping days of the year, but it’s not the only option for shoppers desperately hunting for the top bargains during the holiday season. Cyber Monday, the Monday that follows Thanksgiving weekend, is now catching steam in terms of popularity as well. As to which is more popular, it really does not matter, as both blockbuster shopping days are being received by consumers with open arms.
Marshal Cohen, an analyst with the NPD Group, offered his thoughts on consumer perspectives regarding Black Friday and Cyber Monday. He said: “These days, consumers don’t care whether you call it Black Friday or Cyber Monday — all they care about is the price. And retailers — increasingly having to grab consumers’ attention during Thanksgiving leisure time — are now so willing to be flexible and move these deal dates around, they don’t seem to care what you call these days either.”
So, while Black Friday may get the most publicity, shoppers can now plan their bargain hunting around two major shopping days. Throw in a plethora of deals to be found online, and you have yourself a market is filled with options for consumers. Here are some interesting Black Friday and Cyber Monday notes listed by CNBC in a recent article that will give you additional perspective on the two shopping days.
Cyber Monday is starting to get a Bigger Piece of the Deals Pie
A recent study by Dealnews.com found that Black Friday only had five percent more shopping deals last year than Cyber Monday. That represented a five percent drop over the previous year, which shows that Cyber Monday is starting to garner more attention. Compare that to the past, as described by Dealnews.com CEO Dan de Grandpre: “As recently as three years ago, Black Friday — dominated by Big Store brands — was clearly better than smaller brand-focused and clothing-focused Cyber Monday, in terms of the number and quality of deals, as well as the number of participating retailers.”
The Discounts Offered on Black Friday and Cyber Monday are Similar in Scope
While Black Friday and Cyber Monday may not be identical in the deals they offer, they are quite similar. Grandpre noted that the range of discounts offered on both days is around 30 to 75 percent off the original cost. “More typically, you see maximum discounts at about 50 percent, less for computers and appliances,” he added.
Online Shopping is on the Rise
According to Grandpre, shoppers weren’t always trusting of online transactions for the fear of compromising their credit card information. That has changed now, however, as trust of online transactions has built up over the years. The recent eHoliday survey released by Shop.org found that a majority of retailers expect their online sales to grow by at least 15 percent this year. Meanwhile, the National Retail Federation predicts the average consumer will perform 36 percent of their holiday shopping online this year, as compared to 32.7 percent last year.
Doorbusters Can Be Had Online Too
The term “doorbuster” would suggest that you actually have to walk through a store’s doors to get the deal. Recently, however, retailers are making some doorbusters available online as well. Grandpre noted that big hitters such as Best Buy, Staples, and Wal-Mart have been offering doorbusters online in the recent past, and Target got into the mix last year. Cohen of the NPD Group described the appeal of such online doorbusters, stating: “I’d rather buy something online because I’ll know instantly if I’ve gotten it or not. And if consumers can net a doorbuster online, they won’t have to turn up in store.”
Brick and Mortar and Online Environments are helping One Another
There are usually two camps of shoppers that differ in terms of their shopping preferences. Some prefer shopping online for the convenience, while others prefer the traditional brick and mortar approach. Although it can be said that some online sites detract from brick and mortar sales, other companies are maximizing both outlets to get the most sales. Paco Underhill, CEO of research firm Envirosell, said that a solid retailer’s website gives shoppers the ability to gather data on promotions that can be used when they visit the corresponding brick and mortar store to see and possibly purchase the product in person.
Coupons Drive Sales No Matter What the Environment
Cohen said that many retailers are choosing to offer coupons online that can be used in-store. Such coupons are good to go as long as they are used before a specific expiration date. Since shoppers tend to purchase more in a store setting than online, the move to offer coupons online makes perfect sense.
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