Exhibit 1: Across Europe the vast majority of consumers who are planning to shop during the promotions will do so online only with UK leading the charge with 73%. This is compared to 66% in Germany, 67% in Austria, 61% in the US, 48% in France, 68% in Italy, and 71% in The Netherlands.
Source: Oliver Wyman Black Friday Survey, AT: n = 100, FR: n = 300, DE: n = 211, UK: n = 306, US: n=312, CH: n= 717, NL: n = 100, IT: n=301
Consumers are looking for big discounts, but at what cost to retailers?Our research shows that 75 percent of Black Friday purchases are cannibalizing full-price sales. But if an individual retailer chooses to ignore Black Friday, its business may lose a huge volume of sales to competitors.
Retailers therefore need to focus their strategy on delivering Black Friday and Cyber Monday via multiple platforms – for example, with leaner operating costs, smarter purchasing decisions, attracting customers with products and shopping experiences they cannot get elsewhere, and high-margin add-on sales.
Exhibit 2: The majority of consumers participating in Black Friday and Cyber Monday require a discount of more than 50 percent in order to make a purchase.
Source: Oliver Wyman Black Friday Survey, AT: n = 100, FR: n = 300, DE: n = 211, UK: n = 306, US: n=312, CH: n= 717, NL: n = 100, IT: n=301
Electronics and apparel are the most popular categories for consumers looking for discounts
In the US, 71 percent of consumers are looking to make an electronic or computer purchase closely followed by 65 percent in the UK. In Switzerland, apparel wins out with 70 percent of consumers planning on purchasing from that category with The Netherlands (49 percent) and France (47 percent).
Exhibit 3: Across Europe and the US consumer electronics and apparel top the wish list for shoppers on Black Friday and Cyber Monday
Source: Oliver Wyman Black Friday Survey, AT: n = 100, FR: n = 300, DE: n = 211, UK: n = 306, US: n=312, CH: n= 717, NL: n = 100, IT: n=301; multiple answers possible
Black Friday is still more popular than Cyber Monday with consumers
Across Europe, consumers tend to shop in the week leading up to and on Black Friday. Activity then drops off on Cyber Monday, except in the US where 42 percent of consumers are planning to make a purchase.
Exhibit 4: Black Friday is still the most popular promotions day to shop
Source: Oliver Wyman Black Friday Survey, AT: n = 100, FR: n = 300, DE: n = 211, UK: n = 306, US: n=312, CH: n= 717, NL: n = 100, IT: n=301; multiple answers possible
