Harnessing power of spontaneous shopping: Insights from Black Friday and Cyber Monday
Black Friday and Cyber Monday have become global sales phenomena, captivating millions of shoppers worldwide. In 2022, online Black Friday sales reached a staggering $65.3bn, representing a 3.5% growth. Further underscoring the impact of these events, a Salesforce survey revealed that consumers spent a whopping $1.14trn online globally during the Holiday Season. Recognizing this significance, Kaspersky delved into user behaviour and habits surrounding Black Friday and Cyber Monday.
The Allure of Spontaneous Purchases
A Kaspersky survey unveils a remarkable trend: 90% of purchases during Black Friday and Cyber Monday are spontaneous. This impulsive shopping behaviour is fueled by the allure of enticing deals, with over half (58%) of consumers relying on recommendations from their favourite influencers and online bloggers. Additionally, 40% of shoppers are swayed by recommendations from friends and family, demonstrating the power of word-of-mouth marketing.
Women and Millennials Lead the Charge
Women emerge as the more ardent shoppers during these mega-events, with 22% admitting to always making spontaneous purchases compared to 17% of men. Millennials (ages 25-34) also exhibit a strong inclination towards spontaneous buying, with 23% stating they always indulge in impulse purchases during these events.
The Importance of Timing and Planning
The anticipation surrounding Black Friday and Cyber Monday extends beyond the actual days themselves. A notable 71% of respondents are willing to wait until these events to secure the best deals, while 75% plan their larger purchases in advance to maximize savings.
Safety First in the Digital Shopping Arena
“Black Friday and Cyber Monday present an opportunity for significant savings, generating unprecedented excitement and interest in online and offline shopping,” observes Marina Titova, Vice-President, Consumer Product Marketing at Kaspersky. “Our research highlights that 90% of users make impulsive purchases during these events, potentially compromising their safety in the pursuit of the best deals. Kaspersky’s secure online shopping solutions, such as Kaspersky Premium, serve as a trusted ally, safeguarding personal data, and financial information, and protecting users from phishing sites.”