Millennials still believe in Black Friday, and feel it’s the best sale day of the season.
That’s one of the conclusions of a new “How America Shops” survey conducted by WSL Strategic Retail. Some 58 percent of the Millennials surveyed believe that Black Friday is still the best day of the season to shop, and 63 percent of them said they buy things for themselves on Black Friday.
“It’s like Alibaba’s Singles’ Day,” said Wendy Liebman, chief executive officer and chief shopper at WSL, which last month surveyed 712 women, 18 years and older who shop for holiday gifts for Christmas, Hanukkah and Kwanzaa. The survey found that 71 percent of Millennial women said they’ll be shopping online for gifts.
“The power of digital keeps getting more ingrained each season. They’re not going into the stores,” said Leibman, but they like the deals of Black Friday.
Over the entire season, one-third of all the women surveyed expect to buy between 50 and 75 percent of their gifts online, especially Millennials. “If you don’t get digital right, you’ll be more at risk,” she said.
The survey found that Black Friday could be on the wane. It found that 78 percent of female shoppers start buying holiday gifts before Black Friday; 29 percent will shop on Black Friday, 73 percent said that Black Friday sales aren’t as good as they used to be, and 87 percent said the crowds are too crazy.
Most of the women surveyed said they’ll spend the same or more on holiday gifts, but one-third will spend less. According to the survey, 54 percent of the women will spend the same as last year; 15 percent will spend more than last year, and 31 percent said they will spend less than last year.