This year’s Cyber Monday to surpass Thanksgiving and Black Friday 2016 sales, combined.
The Cyber Monday will at least match or edge out both the Thanksgiving sales (also known as Gray Thursday) and Black Friday 2016 this holiday shopping season according to a new report by Fluent, a consumer research firm.
About 40-percent of Americans says that they will be shopping online on Cyber Monday this year as opposed to 39-percent who indicated that they plan on heading to the location stores for Black Friday 2016. By all accounts, it’s the crowds that scare away the in-store bargain hunters. Just about 2 in 3 consumers said that the great deals and discounts were not worth dealing with the long lines and crowds.
Regardless of a majority of American shoppers will be doing their product research online and this year’s Cyber Monday will be a massive shopping day. Around 22-percent of consumers voice out that they will make the majority of the purchases online, including in-app. American consumers are growing more comfortable with online shopping using handheld mobile and slate devices with nearly 2 in 5 says they will make purchases with their smartphones. However that’s largely propelled by younger shoppers.
The National Retail Federation (NRF) is predicting an overall pickup in holiday spending in Black Friday 2016 sales. This year, the NRF projected that holiday sales will skyrocket 3.7 percent to $630.5 billion, as compared to last year’s 4.1 percent increase. However, that isn’t the case for everyone, as 26% of shoppers said they will spend less this year’s black Friday and Thanksgiving Day sales.
While consumers are spending plenty of time on social media and news websites doing product research, Fluent found that shoppers said ads on social media didn’t entice them to make purchase decisions. TV commercial advertisements and print ads are still the most effective forms of advertising.
A number of major retailers will also likely remain open on Thanksgiving day to attract shoppers in with early access to Black Friday 2016 deals. Many opened at 6PM last year and will likely mirror that strategy this year. Some retailers are fighting against the push to kickoff sales earlier by not opening their stores at all on Thanksgiving Day.
The Centrio Times compiled everything you need to know about the Thanksgiving and Black Friday 2016 including retailers’ ads, deals, specials, dorbusters, store hours, opening times and more in our Black Friday 2016 hub. Find all the Black Friday 2016 Ads as soon as major retailers released them.