Survey predicts Black Friday will overshadow Christmas spending and January sales
14th November 2016 11:35 - Retail
Survey predicts Black Friday will overshadow Christmas spending and January sales: According to a recent retail survey by The Market Creative, Black Friday sales are set to start the Christmas spending; however, as a result, consumers are expecting to spend less in December and during the January sales.
The survey also revealed that more than 2 in 3 consumers expect to take advantage of the Black Friday sales, with 62 per cent saying that they will be shopping for Christmas presents. Although, more than a quarter (26 per cent) said that this will result in less spending throughout December.
The curb on spending does not stop in 2016, with 28 per cent of the respondents saying that Black Friday has made them less interested in January sales. Two thirds of the respondents attributed this to the fact that there are better deals to be had on Black Friday and Cyber Monday. A further 35 per cent said that they expected to spend their budget on Black Friday and so would have little to spend in December.
Although the survey discovered that Black Friday has changed the Christmas shopping habits of young consumers, this was not the case for the older respondents.
Of the respondents aged between 18 and 24, 83 per cent said that they are planning to take advantage of the Black Friday sales and a further 86 per cent will purchase Christmas presents. On the other hand, of those aged above 65, 47 per cent said they are planning to buy something during the Black Friday sales and just 25 per cent will purchase Christmas presents.
From this, the results indicated that the older the shopper is, the less likely they are to get involved in the Black Friday frenzy.
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