Black Friday and Cyber Monday this 2011 season has opened eyes of retailers, marketing companies and young shoppers. Surge in sales year over year is due to that with economy and buying power not changing much.
According to The NPD Group, Best Buy was the fourth most frequently shopped retailer behind full-line merchants Walmart, Target and Amazon, which sell a much wider variety of products. Best Buy also enjoyed the highest conversion rate, with more than 58 percent of shoppers actually making purchases, compared with just 38 percent last year, representing the largest gain among the four rivals.
Some of the smart retailers put their efforts on internet medium, attract the new and young buyers and made it appear that these deals exist only for few days around now. However most of the deals are continuing even after a week. It is smart thinking from the retailers.
Independant buying decisions from young shoppers facilitated further. Percentage of young people getting employed (ages between 17 and 24) has gone up this year. Mobile as a medium of marketing is right on to target this group. They are seeing future value with these purchases. 'Big surge in purchases through small devices' - many report this.
Some of the giant companies such as Apple, Amazon, eBay offering discounts and deals such as free shipping have influenced the finicky customers in their favor.
ComScore has published this informative report, very interesting facts:
| 2011 Holiday Season To Date vs. Corresponding Days* in 2010 Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. – Home & Work Locations Source: comScore, Inc. | |||
| | Millions ($) | ||
| 2010 | 2011 | Percent Change | |
| November 1 – December 2 | $16,257 | $18,697 | 15% |
| Thanksgiving Day (Nov. 24) | $407 | $479 | 18% |
| Black Friday (Nov. 25) | $648 | $816 | 26% |
| Thanksgiving Weekend (Nov. 26-27) | $886 | $1,031 | 16% |
| Cyber Monday (Nov. 28) | $1,028 | $1,251 | 22% |
| Week Ending Dec. 2 | $5,164 | $5,959 | 15% |
*Corresponding days based on corresponding shopping days (November 2 thru December 3, 2010)
| Weekly Holiday Free Shipping Analysis vs. Corresponding Weeks* in 2010 Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. – Home & Work Locations Source: comScore, Inc. | |||
| Week Ending | Percentage of Transactions with Free Shipping | ||
| 2010 | 2011 | Point Change | |
| 11/6/2011 | 41.8% | 52.2% | +10.4 |
| 11/13/2011 | 44.7% | 51.2% | +6.5 |
| 11/20/2011 | 50.2% | 56.0% | +5.8 |
| 11/27/2011 | 55.0% | 64.4% | +9.4 |
| 12/4/2011** | 52.2% | 63.2% | +11.0 |
**Data based on partial week of data thru Dec. 2, 2011
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| Q: “When making a purchase online this holiday season, which of the following statements best describes how important free shipping is to you?” November 29-December 1, 2011, n=1,013 Total U.S. – Home & Work Locations Source: comScore 2011 Holiday Survey | |
| Response | Percentage of Respondents |
| Very important – I will not make a purchase without it | 36% |
| Somewhat important – I actively seek out free shipping deals | 42% |
| Neither important nor unimportant – I would like to find it, but do not require it | 12% |
| Somewhat unimportant – free shipping has very little effect on my purchase decision | 1% |
| Very unimportant – I will make my purchase regardless of shipping costs | 2% |
| Don’t know/not sure | 6% |
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