Holiday Shopping Looks Merry This Year Despite Recession Fears According to Oliver Wyman
15 11월 2019 - 12:10AM
Business Wire
- US consumers are planning to spend an average of $375 over
Black Friday and Cyber Monday, a slight drop from 2018
- The majority (59%) will shop online with discounts being a
key driver
- Black Friday more popular than Cyber Monday, even
online
US consumers are not letting a possible recession dampen their
holiday spirit and plan to spend an average of $375 during Black
Friday and Cyber Monday according to Oliver Wyman. This is a slight
drop from $390 in 2018.
Respondents age 20-29 were the most concerned about a recession
(39%) and planned to cut back on shopping, while respondents age
60+ were less phased (24%) by the possibility. Additionally,
pending tariffs are impacting how various age groups are looking at
holiday shopping, with 42% of respondents age 20-29 anticipating
purchasing fewer items this season.
Most shoppers (59%) are planning to shop exclusively online over
Black Friday and Cyber Monday, and their shopping lists tends to be
planned (72%) rather than spontaneous (27%). Consumers are looking
for big discounts – almost 70% said they wanted between 30% and 50%
off in order to make a purchase.
Hunter Williams, retail and consumer goods partner, Oliver
Wyman, says:
“Our survey indicates that a potential recession appears to be
causing US shoppers to tap, but not yet slam, the brakes in terms
of spending. Consumers are still prepared to shop this holiday
season and are actively planning what they want to purchase.
“Online shopping continues to draw consumers, which is evident
with online retailers such as Amazon offering one day free shipping
this holiday season. Our research shows that most shoppers want to
stay home and shop from the comfort of their home and are already
researching their favorite online retailers to build a list for
shopping online.”
Globally, our new report, Black Friday 2019: What Is Driving
Consumers to Shop This Year?, shows that most shoppers planning to
participate in Black Friday or Cyber Monday online and are looking
to spend 200-300 in local currency.
About the survey
The online questionnaire was fielded in 12 countries with 23,228
individuals surveyed with 12,296 of those planning to shop this
year on Black Friday and/or Cyber Monday. The US survey consisted
of 2,744 individuals, of which 1,218 said they plan to shop this
year on Black Friday and/or Cyber Monday.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With
offices in 60 cities across 29 countries, Oliver Wyman combines
deep industry knowledge with specialized expertise in strategy,
operations, risk management, and organization transformation. The
firm has more than 5,000 professionals around the world who work
with clients to optimize their business, improve their operations
and risk profile, and accelerate their organizational performance
to seize the most attractive opportunities. Oliver Wyman is a
wholly owned subsidiary of Marsh & McLennan Companies [NYSE:
MMC]. For more information, visit www.oliverwyman.com. Follow
Oliver Wyman on Twitter @OliverWyman.
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Rachna Krishnan rachna.krishnan@oliverwyman.com 617-530-0035
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