Black Friday and Cyber Monday are Not Critical for Majority of U.S. Holiday Shoppers
Kristin Shamberg, SVP of research and insights, Basis Technologies
65% Will Shop Early and 62% Want to Finish Shopping as Fast as Possible;
Basis Technologies and GWI Forecasts Holiday Shopping Trends
CHICAGO, July 11, 2024 (GLOBE NEWSWIRE) — Basis Technologies (https://basis.com), a global provider of programmatic advertising and media automation solutions, today announced survey results showing that 54% of holiday shoppers don’t view Black Friday and Cyber Monday as essential for their needs. Additionally, among this audience, 65% say they will shop early to avoid shipping delays and 62% want to get their shopping done as fast as possible. Yet, 82% of respondents say time with people they love is the best gift – a 2% increase from last year’s responses. Basis Technologies’ biannual holiday shopping study was conducted with audience research firm GWI and completed in May using responses from more than 2000 U.S. consumers ages 16-99. The report, ‘2024 Holiday Shopping Trends,’ is available at: https://basis.com/reports/2024-holiday-shopping-trends-report.
The findings forecast trends in the holiday purchasing cycle this year. Below are additional highlights.
Holiday influencers:
- TV ads (traditional and CTV) influences millennials or Gen X holiday gift buying only 10-12% more than the average U.S. consumer. Baby Boomers are much less influenced by ads in any channel than the average consumer.
- For gift buying, millennials and Gen Z tend to be more influenced by social media or general online media ads (ranges from 36% to 68% more) than the average consumer.
- When considering their top personal influences, the top choices for holiday gift shoppers are the gift recipient (52%), recommendations from friends/family (47%) and customer reviews (35%); only 28% of recipients say that brand familiarity influences them.
- 53% will shop where there is free shipping; 51% are heavily influenced by sales and promotions.
- 53% of holiday gift shoppers prefer retailers that help them find unique gifts.
Spending and values:
- Among respondents that say they will increase holiday shopping spend, inflation driving up gift prices was the choice cited most often (64%); no other choice was selected by more than 23% from the same respondents.
- Among respondents that say they will decrease holiday shopping spend, the top reasons for (each selected by 40% or more) are economic worries, uncertainty about the future, and having more expenses that are prioritized over gifts.
- Among respondents, 57% say holidays are an important part of their identity; 51% believe their holiday traditions connect them to their cultural background.
- 61% prefer to shop local or at small businesses; 56% are more likely to buy from retailers or brands that show they care for employees; and 37% like to buy from minority/women owned stores and brands.
Finding shoppers:
- Only 18% of holiday shoppers say their will shop ‘mostly’ or ‘entirely’ in-person; 43% say they will do it ‘mostly’ or ‘entirely’ online; 39% say they will do it equally in-person and online.
- Among respondents, 72% will buy gifts on a laptop or computer, 40% through apps, and 20% through social media.
- 42% of the Gen Z audience said they are likely to purchase holiday gifts through social media. A low percentage of respondents (26% or less) from other generations said they were likely to conduct this action.
- Among respondents that say they would buy gifts on social media, Instagram (57%) and Facebook (56%) were cited the most as the channel of choice.
Basis Technologies and GWI’s survey explores various aspects of holiday shopping such as buying priorities, audience interests, influential channels and more. The biannual report provides insights for marketers in tailoring their advertising, sales and messaging efforts for the upcoming shopping cycle. Holiday shopping trends data from 2023 is available here.
“The holiday shopping cycle is poised to start earlier than what’s been normal for marketers, but the important factor is that there will be numerous opportunities to reach customers on different channels—many of them digital—and during different promotion periods,” said Kristin Shamberg, SVP of research and insights, Basis Technologies. “Economic conditions, speed and convenience, and consumer values may have the most influence on holiday buying. Marketers will be tasked to blend and balance these factors together into cohesive campaigns that engage their customers.”
Basis Technologies is an omnichannel advertising provider for holiday marketers to reach customers on any site or app on any digital device.
About Basis Technologies
Basis Technologies is a global provider of programmatic advertising and media automation software and services for enterprises. The Basis platform improves omnichannel marketing performance by unifying programmatic and direct media buying, workflow automation, cross-channel campaign planning, universal reporting and business intelligence. It delivers a comprehensive selection of buying methods across all channels and devices, utilizing all major creative types and formats. Delivered through a world-class media services team or a SaaS model, Basis solves digital media complexity and drives profitability through a single system of record, seamless team collaboration, and actionable data-driven insights. Headquartered in Chicago with offices servicing North America, South America, and Europe, Basis Technologies has received numerous accolades for its commitment to employees and workplace culture. Learn more at https://basis.com.
Contact:
Anthony Loredo
917-573-4157
[email protected]
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