STOCK TITAN

2024 Is Shaping Up to Be the Smallest Black Friday Ever: GoDaddy Study

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

GoDaddy's recent survey reveals a strong consumer trend towards supporting small businesses this holiday season. 71% of U.S. shoppers are willing to pay more at small businesses during Black Friday, with 53% ready to spend up to 10% extra. Despite inflation concerns affecting 65% of respondents, 78% are as or more likely to shop at small businesses this holiday season. Gen Z leads this trend at 85%. The survey shows 40% of consumers plan to do most holiday shopping in the next four weeks, with 19% focusing on Black Friday. Over half of respondents plan to spend more than $50 per gift, with 22% spending over $100 per person.

Il recente sondaggio di GoDaddy rivela una forte tendenza dei consumatori a sostenere le piccole imprese in questa stagione festiva. Il 71% degli acquirenti statunitensi è disposto a pagare di più nelle piccole imprese durante il Black Friday, con il 53% pronto a spendere fino al 10% in più. Nonostante le preoccupazioni per l'inflazione che colpiscono il 65% dei rispondenti, il 78% è altrettanto o più propenso a fare acquisti presso piccole imprese in questa stagione. La Generazione Z guida questa tendenza con l'85%. Il sondaggio mostra che il 40% dei consumatori prevede di fare la maggior parte degli acquisti festivi nelle prossime quattro settimane, con il 19% che si concentra sul Black Friday. Oltre la metà dei rispondenti prevede di spendere più di $50 per regalo, con il 22% che spenderà oltre $100 a persona.

La reciente encuesta de GoDaddy revela una fuerte tendencia de los consumidores a apoyar a las pequeñas empresas esta temporada navideña. El 71% de los compradores estadounidenses está dispuesto a pagar más en pequeñas empresas durante el Black Friday, con el 53% listo para gastar hasta un 10% extra. A pesar de las preocupaciones por la inflación que afectan a el 65% de los encuestados, el 78% es igualmente o más propenso a comprar en pequeñas empresas esta temporada. La Generación Z lidera esta tendencia con el 85%. La encuesta muestra que el 40% de los consumidores planea hacer la mayor parte de las compras navideñas en las próximas cuatro semanas, con el 19% enfocándose en el Black Friday. Más de la mitad de los encuestados planea gastar más de $50 por regalo, con el 22% gastando más de $100 por persona.

GoDaddy의 최근 설문조사는 소비자들이 이번 휴일 시즌에 소규모 비즈니스를 지원하는 강한 경향을 보이고 있음을 나타냅니다. 미국 쇼핑객의 71%가 블랙 프라이데이 동안 소규모 비즈니스에서 더 많은 비용을 지불할 의향이 있다고 하며, 53%는 10%까지 추가 지출을 할 준비가 되어 있습니다. 65%의 응답자가 인플레이션 우려에 영향을 받고 있음에도 불구하고, 78%은 이번 휴일 시즌에 소규모 비즈니스에서 쇼핑할 가능성이 동일하거나 더 높습니다. Z세대가 이 추세를 주도하고 있으며 85%에 이릅니다. 설문조사는 40%의 소비자가 향후 4주 동안 대부분의 휴일 쇼핑을 할 계획이라고 밝혔고, 19%는 블랙 프라이데이에 집중하고 있습니다. 응답자의 절반 이상이 한 선물에 대해 $50 이상을 지출할 계획이며, 22%는 1인당 $100 이상을 지출할 예정입니다.

Le récent sondage de GoDaddy révèle une forte tendance des consommateurs à soutenir les petites entreprises pour cette saison des fêtes. 71% des acheteurs américains sont prêts à payer davantage dans des petites entreprises lors du Black Friday, avec 53% d'entre eux prêts à dépenser jusqu'à 10% de plus. Malgré les inquiétudes liées à l'inflation qui touchent 65% des répondants, 78% ont autant ou plus de chances d'acheter dans des petites entreprises cette saison. La génération Z est à la tête de cette tendance avec 85%. L'enquête montre que 40% des consommateurs prévoient de faire la majeure partie de leurs achats de vacances dans les quatre prochaines semaines, avec 19% se concentrant sur le Black Friday. Plus de la moitié des répondants prévoient de dépenser plus de 50 $ par cadeau, avec 22% dépensant plus de 100 $ par personne.

Die kürzlich durchgeführte Umfrage von GoDaddy zeigt einen starken Verbrauchertrend zur Unterstützung von kleinen Unternehmen in dieser Urlaubssaison. 71% der Käufer in den USA sind bereit, während des Black Friday mehr in kleinen Geschäften zu bezahlen, wobei 53% bereit sind, bis zu 10% mehr auszugeben. Trotz der Inflationssorgen, die 65% der Befragten betreffen, sind 78% ebenso oder sogar wahrscheinlicher bereit, in dieser Saison bei kleinen Unternehmen einzukaufen. Die Gen Z führt diesen Trend mit unglaublichen 85% an. Die Umfrage zeigt, dass 40% der Verbraucher planen, die meisten Feiertagseinkäufe in den nächsten vier Wochen zu tätigen, wobei 19% den Fokus auf den Black Friday gelegt haben. Mehr als die Hälfte der Befragten plant, mehr als $50 pro Geschenk auszugeben, wobei 22% mehr als $100 pro Person ausgeben werden.

Positive
  • 71% of consumers willing to pay premium prices for small business products
  • 78% of shoppers likely to choose small businesses over larger retailers
  • 54% of consumers planning to spend over $50 per gift, indicating strong consumer spending
  • 40% of consumers planning holiday shopping in next four weeks, suggesting immediate revenue potential
Negative
  • 65% of consumers report inflation impact on shopping habits
  • Only 19% planning to shop on Black Friday specifically, indicating potential revenue concentration risk

Insights

This holiday spending survey reveals significant consumer behavior shifts that could impact GoDaddy's Q4 2024 performance. The 71% of consumers willing to pay premium prices for small business purchases, combined with 40% planning to shop in the next four weeks, suggests strong potential for GoDaddy's small business customers during this critical period.

The data points to increased digital commerce opportunities, with Gen Z (85%) and Millennials (83%) showing strong preference for small business shopping. This demographic trend aligns well with GoDaddy's digital-first solutions and could drive increased adoption of their e-commerce tools and AI-powered services.

The spending patterns - 54% planning to spend over $50 per person and 22% spending over $100 per person - indicate healthy consumer spending despite inflation concerns. This could translate to higher transaction volumes through GoDaddy's payment processing and e-commerce platforms.

71% of Consumers are Ready to Pay More to Shop at Small Businesses This Holiday Season

TEMPE, Ariz., Oct. 31, 2024 /PRNewswire/ -- Consumers are in a giving mood this year, not just toward their friends and families, but also to small businesses. According to a new GoDaddy survey, 71%* of U.S. shoppers are willing to pay more to support small businesses during Black Friday and this year's holiday season, with an eye-popping 53%* of them willing to spend up to 10 percent more to do so. 

Despite 65%* of survey respondents agreeing that inflation will impact their shopping this holiday season, their desire to shop small is clear. More than 3 in 4 (78%)** people are as or more likely to shop at a small business this Black Friday and throughout the holidays compared to previous years, with Gen Z being the most likely to shop small (85%)** and Millennials following closely behind (83%)**.  

Of the reasons to favor small businesses, 30% of respondents cited wanting to support their local economy, while 18% claimed doing so led to better customer service, and 13% preferred unique or handmade products**. 

The Stakes Are Big for Small Businesses 

GoDaddy surveyed U.S. consumers to help small businesses understand their customers' shopping priorities during the all-important holiday season. According to the survey results, 40%* of U.S. consumers plan to do most of their holiday shopping in the next four weeks, with almost 1 in 5 (19%)* planning to do the bulk of their shopping on Black Friday alone.  

"Black Friday has long been considered peak selling season for large retailers, but GoDaddy's research makes it crystal clear U.S. shoppers are willing and eager to make this the smallest Black Friday ever," said GoDaddy Small Business Trends Expert, Amy Jennette. "Despite inflation concerns and rising costs, consumers want to support their local businesses and economies." 

Jennette continued: "To take advantage of this opportunity, small businesses should lean into the 'shopping small' experience that consumers value and are willing to pay more for. They can do this by focusing on unique holiday promotions and offers to attract traffic and provide superior customer service along with unique products and experiences they can't find elsewhere." 

Who Consumers Are Shopping for and How Much They're Spending  

GoDaddy's survey also shows consumers are embracing the spirit of giving. Nearly one-third (31%) of consumers purchase gifts for six or more people, and 10%* extend their shopping lists to more than 10 people. 

For many, the holiday season is a time to show their generosity, with about a fifth of respondents (22%)** typically spending more than $100 per person. Additionally, 32% of shoppers who participated in the survey reported spending between $51 and $100 per person during the holidays. That means over half (54%) of respondents plan to spend more than $50 on gifts per person this holiday season. 

Spreading holiday joy isn't just about giving gifts to others. Two-thirds (67%)** of consumers intend to treat themselves to a holiday indulgence, as well. Gen Z is the most likely to do so, with 83%** planning to buy themselves a special item or experience. 

So Many Tools and Resources to Help Small Businesses This Holiday Season 

Small businesses looking for guidance on how to maximize their seasonal sales should visit GoDaddy's Ultimate Guide to Holiday Campaign Planning. Valuable resources include holiday marketing advice by channel, do's and don'ts for offering seasonal promotions, AI prompts that make it easy to manage and promote a business during the busiest time of year, and much more.  

Visit GoDaddy.com to learn more about the solutions GoDaddy offers small businesses, including the AI-powered GoDaddy Airo experience that TechRadar called "a game-changer for small businesses looking to establish their online presence, particularly because of how much time and effort it saves."  

Methodology
The survey data referenced in this news release was collected via two surveys in which U.S. consumers were asked about their holiday shopping habits: one conducted in October 2024 with 1,247 respondents* and one in September 2024 with 1,520 respondents**. 

About GoDaddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person. GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.GoDaddy.com

Source: GoDaddy Inc.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/2024-is-shaping-up-to-be-the-smallest-black-friday-ever-godaddy-study-302292661.html

SOURCE GoDaddy Inc.

FAQ

What percentage of consumers will pay more to support small businesses during Black Friday 2024 according to GoDaddy (GDDY)?

According to GoDaddy's survey, 71% of U.S. consumers are willing to pay more to support small businesses during Black Friday and the 2024 holiday season.

How much more are consumers willing to spend at small businesses during Black Friday 2024?

53% of consumers are willing to spend up to 10% more to support small businesses during the 2024 holiday season.

What percentage of Gen Z plans to shop at small businesses during Black Friday 2024?

85% of Gen Z consumers are likely to shop at small businesses during Black Friday and the 2024 holiday season, the highest among all generations.

How much do consumers plan to spend per person on holiday gifts according to GoDaddy's 2024 survey?

54% of respondents plan to spend more than $50 per person, with 22% spending over $100 per person on holiday gifts.

GoDaddy Inc

NYSE:GDDY

GDDY Rankings

GDDY Latest News

GDDY Stock Data

22.94B
140.97M
0.63%
102.32%
2.12%
Software - Infrastructure
Services-computer Integrated Systems Design
Link
United States of America
TEMPE