Report provides insights on consumer spending behavior for the holiday shopping season.
The Shopify Black Friday Weekend Shopping Predictions unboxes insights on consumer spending behavior for the holiday shopping season – and predicts a fundamental shift in the Black Friday sales season this year: the takeover of DTC.
Shopify’s report unveils that independent and DTC brands are set to challenge third party retailers, with nearly half of US consumers planning to buy directly from a brand’s store rather than from a third party retailer.
Additional report highlights include:
- Shoppers will go to their favorite brands for purchase: 51% of Millennials and Gen Xers plan to buy directly from a brand’s store versus a third party, whereas only about one third (34%) of Baby Boomers plan to do so.
- Consumers are beating the lines and shopping online: 49% of US consumers plan to shop online only, while 8% plan to shop in-person only, and 43% say they plan to shop both.
- Black Friday still reigns: 70% of US consumers will buy on Black Friday, while 64% will buy on Cyber Monday. Only 27% of US consumers intend to shop on Thanksgiving.
- Electronics are at the top of shoppers’ lists: 56% of US consumers intend to spend the most money on electronics/computers, while 28% say they will spend the most on clothing/fashion.
To read the full report, click here.