According to Shopify’s Black Friday (BFCM) Spending Forecast survey, 67% of U.S. consumers say they plan to shop during this year’s Black Friday Web One (similar to last year), while consumers in Italy (up from 84% to 86%), Germany (up from 61% to 65%) and Canada (up from 50% to 61%) are showing higher interest compared to 2020.
In many countries, Black Friday Web One shopper plan to spend more this year compared to the previous year, including the United States.
According to the report, many promotions have started early this year as brands look to get a head start on shipping and supply chain delays, and consumers are planning to get a head start on their shopping.
As of early October, more than a quarter (27%) of the U.S. Black Friday Web One consumers surveyed by Shopify said they had already started looking for peak-season discounted products, with similar results in Canada (25%), Germany (23%), the United Kingdom (22%) and New Zealand (22%).
In addition, due to the ongoing impact of the epidemic, consumers purchased almost all of their goods online last year. While online sales are still expected to outpace brick-and-mortar sales this year, many consumers intend to shop both in-store and online.
Compared to 2020, the U.S. has seen an 11 percent increase in plans to spend both online and in-store, with 59 percent of consumers saying they intend to take a hybrid approach to shop this year.
In Italy, 59% of consumers say they plan to make purchases both online and in physical stores (up 10% from 2020), as well as 50% of consumers in Canada (up 5% from 2020), 47% in Germany (up 9% from 2020) and 43% in Australia (up 6% from 2020) who say they will shop both online and offline will do so.
According to Shopify, younger Black Friday Web One consumers (ages 18-34) are more likely to purchase directly from social media this year compared to those over 35 years old.
In the U.S., 21% of younger consumers are more likely to make purchases via social media, followed by 20% in the Netherlands, 22% in the U.K., 27% in Australia, and 25% in New Zealand who will also choose social media channels for their purchases.
In late October, Shopify announced results for the third quarter ended September 30, 2021.
The company reported third-quarter revenue of $1.124 billion, compared to $767 million a year earlier, an increase of 46.5%, and net income of $1.148 billion, compared to $191 million a year earlier, an increase of 501%.
Subscription solutions revenue was $336 million, compared to $245 million a year earlier, an increase of 37.1%, and commerce solutions revenue was $788 million, compared to $522 million a year earlier, an increase of 51%.
In addition, according to Feedvisor’s forecast after market research, 3 out of 4 U.S. adults are ready to do most of their holiday shopping online this Q4. As the place where 63% of online shoppers start their search for products, Amazon is the obvious choice for consumers in the U.S. market.
While most people plan ahead for what they will buy during the holiday season, a majority of consumers also spend impulsively, spending money online on things they did not intend to buy.
The data shows that for the U.S. market, people in Florida, Ohio, and Illinois are particularly prone to impulse shopping. People in Florida, Michigan, and Alabama spend the most online. Sellers can target these people who are prone to impulse spending if they don’t sell essential items in the fourth quarter.