RetailMeNot Predicts Increases in Deals, Consumer Spending and Online Shopping Over an Elongated Black Friday and Cyber Monday Week

Rhea-AI Summary

RetailMeNot, a subsidiary of J2 Global, forecasts a shift in shopping behavior for the 2020 holiday season due to the pandemic. Key findings include: 88% of consumers will avoid in-store doorbuster deals, with most shopping online. While only 68% are likely to shop during Black Friday Weekend, spending has increased to $766 from $738 last year. Retailers plan to offer more discounts, with 61% indicating a larger number of holiday deals. Shopping early is recommended to avoid inventory issues.

Positive

• 61% of retailers will offer more holiday discounts due to economic challenges.
• Consumer spending has increased to $766 this year compared to $738 last year.

Negative

• 88% of consumers plan to skip traditional in-store doorbuster deals.
• Only 68% of consumers will shop during Black Friday Weekend, down from 78% in 2019.

AUSTIN, Texas, Nov. 19, 2020 /PRNewswire/ -- The typical Black Friday and Cyber Monday shopping experiences and deals of previous years will look completely different this year, including how and when consumers are shopping due to the global pandemic. According to research from leading savings destination RetailMeNot, a J2 Global business within its Ziff Davis division, the holiday season will see fewer consumers shopping traditional in-store doorbusters this year, favoring online shopping instead.

What Can Shoppers Expect This Year?

• This year will bring an extended time frame of savings opportunities. RetailMeNot still expects to see strong Black Friday and Cyber Monday offers of years past, some of which have already started rolling out at big box retailers.
• Over three in five (61%) retailers plan to offer more holiday discounts than they traditionally do for this holiday season because of the economic challenges in America.
• According to RetailMeNot historical data, the best deals will be in the categories of electronics, smart home devices, small appliances, video game consoles, and apparel.

How Are Consumers Shopping Over Black Friday and Cyber Monday This Year?

• 88% of consumers say they will not shop the traditional in-store doorbuster deals this year, and Black Friday and Cyber Monday shopping will occur mostly online.
• Fewer Americans will be shopping over the long weekend of sales this year. Nearly seven in ten (68%) will be shopping over Black Friday Weekend this year, compared to nearly four in five (78%) in 2019. However, the consumer spend is up this year ($766) compared to last year ($738) between the days of Black Friday and Cyber Monday.
• Among those planning to shop during this timeframe, significantly fewer will shop on Black Friday this year (60%) compared to last year (73%). A similar amount will shop on Cyber Monday as in 2019 (64% vs. 63%).

RetailMeNot's Shopping & Trends Expert, Sara Skirboll, advises consumers to start shopping now. "With the anticipated delays, you don't want to put yourself in a situation where a gift doesn't arrive on time or where you're paying huge fees for rush shipping. Many stores already have discounted prices and holiday sales which is an added incentive to start shopping asap," says Skirboll. "Plus, it's smart to shop earlier based on what we anticipate happening with inventory issues on popular electronics and toys."

Black Friday and Cyber Monday Shopping Tips From Sara Skirboll:

• Take Advantage of Retailers Offering "Buy Online Pick Up in Store". Most retailers will continue to offer buy online, pickup in-store (53%) or, return in-store (56%) during the holiday season this year. Curbside pickup has also grown considerably during this pandemic. According to RetailMeNot research, 52% of retailers say they plan to deploy it for holiday shoppers this year.
• Install the RetailMeNot Deal Finder™ Browser Extension. Download the free browser extension Deal Finder to help save time and money when shopping online. Deal Finder automatically applies coupon codes and cash back offers right at checkout. All you have to do is download the Deal Finder extension to your browser one time, and after that, every time you shop on that same browser and get ready to check out on an order you are placing, Deal Finder will run any available coupons pre-purchase to get you the best savings possible. The savings are then automatically applied right at check out.
• Check Carrier Deadlines. The major shipping carriers have already holiday cutoff dates, so you know the last day you can order and receive your gifts on time.
• Compare Prices onBlackFriday.com: Before you start shopping, check out weekly ads on BlackFriday.com where you'll find all the best Black Friday deals before they go live. This is a great resource to do research and price compare before you make any purchases.

To learn about all the ways to save money this holiday season, visit RetailMeNot.com.

Survey Methodology
This data is from recent surveys with Kelton Global and Survey Monkey. The RetailMeNot Kelton Q2 PR 2020 Survey was conducted between August 17th, 2020 and August 19th, 2020 among 1,052 nationally representative Americans ages 18 and over, using an email invitation and an online survey. The Survey Monkey research was conducted in August with 2,360 respondents.

About RetailMeNot
RetailMeNot is a leading savings destination bringing people and the things they love together through savings with retailers, brands and restaurants. RetailMeNot makes everyday life more affordable through online and in-store coupon codes, cash back offers, and the RetailMeNot Deal Finder™ browser extension. To learn more, visit http://www.retailmenot.com/corp or follow @RetailMeNot on social media.

About J2 Global
J2 Global, Inc. (NASDAQ: JCOM) is a leading Internet information and services company consisting of a portfolio of brands including IGN, Mashable, Humble Bundle, Speedtest, PCMag, RetailMeNot, Offers.com, Spiceworks Ziff Davis, Everyday Health, BabyCenter and What To Expect in its Digital Media segment and eFax, eVoice, iContact, Campaigner, Vipre, IPVanish and KeepItSafe in its Cloud Services segment. J2 Global reaches over 230 million people per month across its brands. As of December 31, 2019, J2 Global had achieved 24 consecutive fiscal years of revenue growth. For more information, visit: www.j2global.com

Press Contacts:
ALISON BROD MARKETING + COMMUNICATIONS
retailmenot@abmc-us.com
212-230-1800

RetailMeNot Public Relations
pr@rmn.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/retailmenot-predicts-increases-in-deals-consumer-spending-and-online-shopping-over-an-elongated-black-friday-and-cyber-monday-week-301176703.html

SOURCE RetailMeNot

FAQ

What is RetailMeNot's prediction for Black Friday and Cyber Monday 2020?

RetailMeNot predicts an increase in deals, consumer spending, and a shift towards online shopping due to the pandemic.

How much are consumers expected to spend during Black Friday and Cyber Monday 2020?

Consumers are expected to spend $766 during Black Friday and Cyber Monday, up from $738 last year.

What percentage of shoppers will avoid in-store shopping during the holidays?

88% of consumers say they will not shop traditional in-store doorbusters this year.

What percentage of retailers will offer more discounts this holiday season?

61% of retailers plan to offer more holiday discounts than usual.

How has consumer shopping behavior changed for Black Friday and Cyber Monday 2020?

Fewer consumers will shop over Black Friday Weekend, with only 68% planning to shop compared to 78% in 2019.