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How Retailers Can Engage Impromptu Buyers Online – eCommerce Magazine

Not surprisingly, the corona pandemic – especially under the aspect of the current partial lockdown – also has an impact on Black Friday and Cyber ​​Monday. Awareness of Black Friday (in Germany 2020: 100 percent, as in 2019) and Cyber ​​Monday (in Germany 2020: 86 percent; 2019: 83 percent) continued to increase worldwide. But the Willingness to buy has decreased significantly this year. In Germany, only half of consumers plan to shop on the two days of shopping in 2020 (2019: 66 percent), a third are undecided (2019: 26 percent).

Black Friday: Budget has fallen due to the corona pandemic

Likewise, the global budgets for Black Friday and Cyber ​​Monday are significantly lower this year than last year. They are on average between 200 and 250 euros. In Germany, consumers plan for the two Shopping events an average of 205 euros (2019: 242 euros). This comes from the study “Global Black Friday Forecast” by the global strategy and marketing consultancy Simon-Kucher & Partners, which was carried out in October 2020 among more than 11,300 consumers in 14 countries.

Spontaneous shopping is very popular with consumers

Online shopping was already very popular on Black Friday and Cyber ​​Monday last year and will – as expected due to Covid-19 – continue to increase this year. In Germany (at the time of the survey in October 2020) 57 percent of consumers plan to shop predominantly or exclusively online (46 percent of them exclusively online, 2019: 42 percent exclusively online), only 14 percent want to go to shops, five or six percent respectively that depends on where certain products are available and where you can get the best deal. The Top 3 shopping categories are – as in previous years – electrical goods (65 percent), clothing (42 percent) and small household appliances (40 percent).

New this year is the increased trend towards spontaneous shopping: This year, 52 percent of consumers primarily want to browse and be inspired by the range on offer (2019: 49 percent). Those who specifically plan their shopping for Black Friday and Cyber ​​Monday do so at shorter notice than in the previous year: 35 percent will only create their shopping lists up to a week before the two shopping events (2019: 22 percent), and 36 percent will start with planning one to two weeks in advance (2019: 43 percent).

Retailers have to use all digital communication channels on Black Friday

“Customers buy even more spontaneously this year. Since they have no planned purchase intention, they still have to be convinced in the shop – so it is all the more necessary that retailers offer good price promotions. Everything that took place in previous years as non-price campaigns on Black Friday in stores – the special event flair like a glass of sparkling wine – is unfortunately hardly possible this year, ”explains Nina Scharwenka, partner in the global Consumer & Retail Practice at Simon-Kucher.

“Instead, retailers not only have to use all digital communication channels to attract customers to their web shops, but also because of the trend towards spontaneous purchases there, they have to offer intelligent promotions and events that support cross- and up-selling, and thus the shopping carts to fill. If you don’t just want to play directly on the price, you have to be really good at inspiration. This can be done, for example, via concept corners that contain all products on a specific topic, such as “Everything for home sports”, free products above a defined threshold (“Free T-shirt for every purchase over 50 euros) or digital events like live shopping with influencers. ”

Not only discounts count, but also the online shopping experience

This is also supported by another result of the study: The discount expectations during Black Friday and Cyber ​​Monday have not increased across Europe this year despite the corona pandemic, but are similar to the previous year at ten to 25 percent. The situation is different in the USA and China, where discounts averaging 26 to 50 percent are expected.

“In these regions, Black Friday and Cyber ​​Monday, as well as Singles Day in China, have long been established and people are demanding higher discounts. In Germany, consumers are not so spoiled in this regard, ”says Frederike von Wissel, Director in the global Consumer & Retail Practice at Simon-Kucher.

“The retail trade should therefore not blindly rely solely on high discounts so that customers fill their shopping carts. He has to come into people’s living rooms with his web shop and offer them great online shopping experiences. These are uncertain times, the corona pandemic makes long-term planning difficult: It is all the more important that retailers now remain flexible, rethink, and break new ground in order to survive in the market. “(Sg)

About the methodology of the study: The study “Global Black Friday Forecast” was carried out by Simon-Kucher in October 2020 as an online survey. A total of around 11,332 consumers in 14 countries (Australia, China, Denmark, Germany (n = 1,010), Italy, New Zealand, Netherlands, Saudi Arabia, Sweden, Spain, Turkey, UK, US, United Arab Emirates) about their consumer behavior as well asked about their willingness to pay on Black Friday, Cyber ​​Monday and Singles Day (in China). The management consultancy Simon-Kucher & Partners is geared towards TopLine Power and has more than 1,400 employees in 40 offices worldwide. (sg)

Also read: Black Friday: 3 Tips On How Online Retailers Prepare For The Onslaught