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In Mourning for Black Friday 2015: Mobile, In-Store and the Omnishopper

Nitin Sumangali |

If you put all your bets on a single channel—you lost.

Emerging from our post-Thanksgiving food coma, we’ve been looking at the numbers from the retail bonanza that is Black Friday and Cyber Monday, and 2015 looks to be an inflection point for consumers. MasterCard’s SpendingPulse showed that in the U.S. during the Thanksgiving-Black Friday-Cyber Monday period, overall spending volume was up in the single-digit percent range. eCommerce spending is the fastest growing segment of this mix, but it’s important to note that retail spending was strong for the month of November as a whole.

SpendingPulse reported total retail sales (ex. auto and gas) up 4.6 percent in November. This healthy growth also indicates consumers were not holding out for the holiday, choosing instead to buy earlier in the month (the latter part of November was especially strong) or indeed earlier in the year. This was also a month where consumers shopped heavily online—eCommerce sales for the month of November were up 15.9 percent from a year ago. Even as the growth rates of eCommerce sales year to date and eCommerce’s share of total retail sales both remain in the single digits, such strong growth in a single month shows that connected consumers with access to more information feel they have options to capture great deals.

To put it more sharply, consumers no longer view Black Friday as a day of shopping, but as part of a shopping season that begins well before Thanksgiving and no longer only includes waiting in endless lines at midnight after dinner, but browsing a tablet to capture deals from the comfort of the couch. The consumers is browsing for information, points of comparison and product detail long before Black Friday kicks off, and if the deals look good, they aren’t waiting for the calendar to tell them to hold off on buying. For retailers, the importance of focusing on the consumer needs and not just a channel has never been clearer.

In the downloadable Key Findings Report of The Omnishopper Project by Global Insights, we discuss four key recommendations. These areas of focus are for those who need to understand how technology is guiding consumers’ retail choices more acutely today than ever before and how to guide their investment in these areas. The four key areas are

  1. 1. Shopper data/advanced analytics,
  2. 2. Technology
  3. 3. Talent; and
  4. 4. Content

 

To learn more about how The Omnishopper Project can help make sense of the future of retail, visit the website and the Key Findings Report.

Topics: Economic Outlook, Mobile, Payments Strategy, Retail Trends

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