More people buy for themselves in the run up to Black Friday, in comparison to those buying for others.
The report, from Connexity, examined 38,000 global online buyers, includes data from 2012-14.
Key highlights include:
• More people are buying for themselves over Black Friday, than for other people
o 52% of people were buying for themselves, in comparison to the 47% who were buying for others
• This then dramatically shifts after Cyber Monday
o 64% of people buy for themselves prior to Black Friday, which then decreases to 51% after Cyber Monday
o 43% of people buy for others prior Black Friday, which then increases to 57% after Cyber Monday
But who is buying for themselves?
• Millennials and senior people are more likely to be buying a gift for themselves
o 58% of Gen Y and 56% of Seniors are most likely to be ‘Self-Gifting’, compared to only 48% of Gen X and 51% of Baby Boomers
This may be due in part to a higher likelihood of Gen X having children living at home – particularly for Gen X
o 51% of Gen X and 50% of Boomers are most likely to be shopping for others, compared to 45% of Seniors and 44% of Gen Y.
So what does this mean for retailers?
• Don’t forget to include messaging around buying for yourself, in your promotional messaging, in the run up to Black Friday
o This should span your ad campaigns, emails and the website
• Make sure to specifically target Gen Y and Seniors with this message
o Increased personalisation such as this will help drive sales
• After Black Friday, however, ensure to shift your marketing approach and retarget with promotions around buying for others
Source: Connexity