Business
RetailMeNot Predicts Increases in Deals, Consumer Spending and Online Shopping Over an Elongated Black Friday and Cyber Monday Week
Over three in five (61%) retailers plan to offer more holiday discounts than they traditionally do because of the economic challenges in America. AUSTIN,
About this update from Ziff Davis, Inc.
[{"type":"text","content":"Over three in five (61%) retailers plan to offer more holiday discounts than they traditionally do because of the economic challenges in America.\n\n\nAUSTIN, Texas, Nov. 19, 2020 /PRNewswire/ -- The typical Black Friday and Cyber Monday shopping experiences and deals of previous years will look completely different this year, including how and when consumers are shopping due to the global pandemic. According to research from leading savings destination RetailMeNot, a J2 Global business within its Ziff Davis division, the holiday season will see fewer consumers shopping traditional in-store doorbusters this year, favoring online shopping instead. \n\n \n \n \n \n \n \n\n \nWhat Can Shoppers Expect This Year?\nThis year will bring an extended time frame of savings opportunities. RetailMeNot still expects to see strong Black Friday and Cyber Monday offers of years past, some of which have already started rolling out at big box retailers. Over three in five (61%) retailers plan to offer more holiday discounts than they traditionally do for this holiday season because of the economic challenges in America. According to RetailMeNot historical data, the best deals will be in the categories of electronics, smart home devices, small appliances, video game consoles, and apparel.How Are Consumers Shopping Over Black Friday and Cyber Monday This Year?\n88% of consumers say they will not shop the traditional in-store doorbuster deals this year, and Black Friday and Cyber Monday shopping will occur mostly online. Fewer Americans will be shopping over the long weekend of sales this year. Nearly seven in ten (68%) will be shopping over Black Friday Weekend this year, compared to nearly four in five (78%) in 2019. However, the consumer spend is up this year ($766) compared to last year ($738) between the days of Black Friday and Cyber Monday. Among those planning to shop during this timeframe, significantly fewer will shop on Black Friday this year (60%) compared to last year (73%). A similar amount will shop on Cyber Monday as in 2019 (64% vs. 63%).RetailMeNot's Shopping & Trends Expert, Sara Skirboll, advises consumers to start shopping now. \"With the anticipated delays, you don't want to put yourself in a situation where a gift doesn't arrive on time or where you're paying huge fees for rush shipping. Many stores already have discounted pri...