Results of Two Black Friday Studies Show No One Knows What to Expect this Black Friday
There’s no denying that the weekend after Thanksgiving is one of the biggest—if not the single biggest—shopping weekend of the entire year. It’s considered to be the official start of the holiday shopping season, and tens of billions of dollars will be spent by consumers both in stores and online.
However, recent reports about just how successful a weekend it will be for retailers are all over the map. Take for example two separate Black Friday studies that were released this Friday, one week before the big shopping bonanza.
The first comes from retail cash-back app Ibotta, which detailed shoppers’ expectations around deals and their purchasing habits this holiday season. The study asked consumers about their preferences as far as which weeks they’ll visit stores and their anticipated budgets. From its findings, Ibotta determined that Black Friday is “losing steam” this year due to the rise of other shopping events like Cyber Monday, Small Business Saturday, Free Shipping Day, and Super Saturday. Those events, did result in an 11 percent sales drop last year, per the National Retail Federation, but Ibotta dove into the figures deeper.