Cash remains the respondents’ favorite way to pay for their purchases; 55 percent plan to use cash to make their holiday purchases, while 29 percent plan to use credit. Of those who will use credit, 40 percent will use their accumulated credit card rewards to supplement their shopping.
Customer service is also a driving force for holiday purchases in 2013, as 49 percent of Americans say a bad customer service experience will affect their decision to shop with a particular retailer again.
Black Friday and Cyber Monday: A Matter of Preference
The majority of shoppers, 70 percent, plan to take advantage of Black Friday or Cyber Monday deals, comprised of 40 percent of shoppers planning to brave the crowds on Black Friday and 30 percent planning to go online for Cyber Monday. Additionally, one-third of shoppers will do a majority of their shopping on one of these days.Consumers are not likely to go into Black Friday and/or Cyber Monday blind, as 76 percent of consumers plan to research the deals ahead of time. While scouting the sales, consumers will employ a range of tactics including researching newspapers and online news sites, 42 percent; retailers’ websites/promotional emails, 33 percent; social media, 8 percent; and TV/radio, 8 percent. Americans prefer Black Friday because they say the shopping holiday offers better sales, at 41 percent. Additional factors influence shoppers’ willingness to face the crowds, including 21 percent preferring to see items in-store, and 20 percent upholding family tradition. Convenience is king for Cyber Monday shoppers as 63 percent say they appreciate the ease of online shopping. Nearly a quarter, 24 percent, say they find better sales, and 11 percent prefer the ability to easily compare prices. No matter consumers’ preference between the two big shopping events, shoppers top purchases will be electronics, clothing, toys and jewelry:
- Electronics, 87 percent
- Clothing, 71 percent
- Toys, 58 percent
- Jewelry, 30 percent