The Value of a Good Deal

Another week, and another survey as everyone waits for the upcoming Thanksgiving weekend shopping extravaganza. Unless something goes wrong between now and next week, it looks like the four-day period from Thanksgiving Thursday to Cyber Monday will be strong in store and online.

That's according to the Pre-Black Friday Intentions Survey conducted by ICSC, the International Council of Shopping Centers.

The survey predicts that 85 percent of adults will shop during the four-day weekend, and, perhaps more importantly, 80 percent will visit a mall or shopping center. Overall, 84 percent of shoppers are planning to spend in a physical store.

But even if shoppers buy online, it doesn't mean the chance to entice them in store is gone. ICSC found that 44 percent of those planning to shop over the weekend will buy online and pick-up in store. One they are in store, 72 percent of those shoppers will spend additional money while at the store.

The survey also looked at what prompts people to buy where they do. Forty-one percent of respondents said promotions and loyalty rewards are key factors when choosing where to shop, with in-store promotions having the most influence on purchasing decisions over the four-day weekend. 

That shouldn't come as a surprise. Consumers love the feeling of getting a bargain or a great deal, no matter how much they are spending or their level of wealth,. 

Multi-channel engagement platform Leanplum has a different take on the numbers, claiming consumers are shunning brick-and-mortar stores with over 95 percent choosing to buy half or more of their gifts online. 

Setting aside the online or in store debate, Leanplum also emphasizes deals and promotions. 

It says three-quarters of shoppers find it helpful to receive emails from retailers regarding deals and promotions. Interestingly, 74 percent of those surveyed said they were "excited" to receive notifications from retailers about offers/sales. 

After receiving a notification from a brand about a deal, almost 70 percent said they would check out the offer and probably purchase the item.

There's a big but though. Seventy-five percent of respondents said generic messages from retailers annoy or bother them. Consumers have a preference for when and how they would like to receive messages from retailers. That's why it is imperative retailers communicate with their consumers regularly regarding topics useful to them and in the form that they are most comfortable engaging with, to ensure consumer satisfaction and retention. 

Back income. Consumers across all income levels said sales were the primary reason they opened notifications from brands and retailers. Even respondents who earn $150,000 or more said they are most excited to receive push notifications from retailers regarding sales.

Consumers enjoy receiving discounts and deals from brands via email. In fact, two-thirds of respondents reported they open emails from brands they believed contain product deals or sales.

So what's the bottom line? While some people still hold the fundamental meaning of Thanksgiving dear to their heart, for others the weekend is all about shopping. Or, as Tom McGee, president and CEO of ICSC says, "The holidays are about spending time with family, friends and loved ones and there are few places better to do that during the holidays than at a mall or shopping center." 

Agree or disagree? Let me know your thoughts on the Thanksgiving shopping frenzy.

Have a fabulous weekend.