News Feed Item

"Black Friday 2017 Shopping Report: Consumer Sentiment is Riding High" - Research from Periscope By McKinsey

It could be a huge Black Friday for 2017, as 44% of US, and 81% of UK shoppers plan to go bargain hunting online and in stores

NEW YORK and LONDON, October 12, 2017 /PRNewswire/ --

Periscope® By McKinsey, a suite of solutions focusing on price, promotion, assortment, sales and marketing optimization to achieve sustainable revenue growth, today announced the findings of research that it carried-out during October 2017 on consumer sentiment towards Black Friday 2017, the categories they will shop in, and how.

As the findings of "Black Friday 2017 Shopping Report: Consumer sentiment is riding high " reveal, consumers have great expectations for this year's event. Almost half (44%) of US consumers confirmed they will be shopping this Black Friday - compared to just 26% in 2016 and 23% who were undecided. The jump is much higher in the UK with an impressive 81% of stating they intend to shop this Black Friday - compared to just 22% who anticipated getting involved last year and 30% who were on the fence. Previous skepticism about Black Friday being a marketing trick also seems to be falling with 37% of UK shoppers and 25% in the US saying they've grown to like it more.

The top motivating factor for shopping this Black Friday is getting enticing offers not available at other times of the year according to 37% of US shoppers, and 36% in the UK. This was followed by steep discounting which was 36% for the US, and 48% in the UK.

Consumers are demonstrating their omni-channel credentials 

In recent years, Black Friday has been viewed as an increasingly digital shopping event. However, the 2017 research reveals that 36% (US) and 31% (UK) consumers are planning to conduct their Black Friday shopping activities both in-store and online. That's a big jump from last year, when just 18% and 11% respectively said they would divide shopping activities between digital and physical channels.

Looking at online behavior, the desktop computer remains the device most likely to be used when making Black Friday purchases at 35% (US) and 45% (UK), but is declining compared to 2016 when 60% and 54% planned to shop this way.

Shoppers are also planning to use smartphones more this year. Almost one-third of UK respondents (30%) and over a quarter of US (26%) plan to use them to make Black Friday purchases - up from 16.5% (UK) and 20.5% (US) last year.

However, the excitement of the physical store experience still retains a strong appeal for many Black Friday bargain hunters - that's especially true for the 28% of US shoppers who say they only or mostly plan to shop in-store (compared to 17% of UK shoppers) this shopping holiday.

Consumers plan to spend more online in wider categories 

When questioned if the way they shop will be different this year, UK (48%) and US (33%) respondents say they are planning to shop across more product categories when making online purchases - furthermore, 36% of UK and 27% of US respondents say they have a higher budget to spend this year.

Asked to identify which product categories they plan to shop this Black Friday, there were some interesting variations observed between US and UK consumer predilections:

  • Consumer electronics topped the list for both US (58%) and UK (52%) shoppers, with Clothing coming a close second (54% in the US; 52% in the UK)
  • Shopping for Movies, Books and Music is the #3 priority for 33% of US consumers, while Beauty and Fragrances stole the third spot with 42% of UK shoppers
  • With Christmas looming, it's probably no surprise that Toys holds a strong appeal for both US (32%) and UK (35%) consumers.
  • Interestingly, 20% of UK consumers and around 10% of US consumers also anticipate shopping for offers in categories like Grocery and Beverages.

Commenting on the findings, Brian Elliott, Managing Partner of Periscope By McKinsey, said: "Consumer appetite for Black Friday in the US and UK has surged this year, with more planning to shop, in more categories, with more disposable budget. There is a clear opportunity for those retailers that understand how their customers shop in an omnichannel setting and therefore focus on creating shopping experiences that tie their online and physical channels together. We know from the research that consumers have a shopping list and are researching online already now, that means they are giving you clues about what they want. Retailers that can use that information to create personalized promotions and offers, stand a much higher chance of securing sales, and making Black Friday 2017 their biggest ever."

To download the survey report "Black Friday 2017 Shopping Report: Consumer sentiment is riding high" that accompanies this research, visit https://www.periscope-solutions.com/download.aspx?fileID=3255.

Study Methodology 

In October 2017, Periscope conducted online research to understand the consumer attitudes towards Black Friday 2017 and their expected shopping patterns. The web-based survey targeted consumers in the United States and the United Kingdom aged between 18 and 60+. The survey polled a total of 3,226 consumers of whom 1,552 respondents (1,136 US consumers, 510 UK consumers) qualified as planning to shop for Black Friday deals. The survey samples were equally weighted between male/female respondents in both territories.

About Periscope® By McKinsey

Founded in 2007, the Periscope® By McKinsey platform combines world-leading Intellectual Property, prescriptive analytics and cloud based tools with expert support and training. It's a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing & Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (especially from McKinsey but also other partners) and best-in-class technology to enable transparency into Big Data, actionable insights and new ways of working that drive lasting performance improvement, and a sustainable 2-7% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions is comprised of: Insight Solutions, Marketing Solutions, Customer Experience Solutions, Category Solutions, Pricing Solutions, Performance Solutions and Sales Solutions. These are complemented by ongoing client service and custom capability building programs.

To learn more about how Periscope's solutions and experts are helping businesses continually drive better performance, visit http://www.periscope-solutions.com/

SOURCE Periscope By McKinsey

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
"We started a Master of Science in business analytics - that's the hot topic. We serve the business community around San Francisco so we educate the working professionals and this is where they all want to be," explained Judy Lee, Associate Professor and Department Chair at Golden Gate University, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve fu...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...