Black Friday: The Retail Spectacle for all Ages
Sector appeal slightly varies among the different generations with Gen Z being most inclined towards Fashion this Black Friday.
1. There are stark differences in terms of consumer perception this Black Friday across generations
Offers on more products is still the biggest consumer attraction across all generations. This is by far the most important criteria to Gen Z consumers. Another important aspect is that younger generations are planning to purchase more, indicating extensive research for good online deals as well as the ideal gifts. This also debunks the myth that the online space is strictly for younger generations as more Gen X and Gen Y seek better online deals.
Black Friday Perception – Age Cut, Scoring based on Agreement Scale
Note(s): 1. Which of the following statements do you agree with most in context of black Friday? 2. (Strongly Agree + Agree) – (Strongly Disagree + Disagree) 3. Gen Z: 18-24 yrs; Gen Y: 25-44 yrs; Gen X: 45 yrs & Above
2. Influencer and Social Media Marketing is a growing segment of attraction to the younger generations; Brands/Retailer App still the most preferred product discovery channel
Black Friday Product Discovery Through Digital Channel – Age Cut, In % of Black Friday Shoppers
Note(s): 1. What media channel do you prefer for the discovery and selection of products during Black Friday for the following sectors?
Older generations are far more likely to rely on the brand/retailer app to discover new products. Social media and Influencer marketing for product discovery are rapidly growing particularly amongst younger generations.
3. In terms of sectors, Black Friday adoption slightly vary across different age groups
Black Friday Sector Adoption – Age Cut, In % of Black Friday Shoppers
Note(s): 1. On the coming Black Friday (November 21st), which sectors are you looking to buying from online?
Sector appeal slightly varies among the different generations with Gen Z being most inclined towards Fashion this Black Friday. These youngsters look for buying trendy and branded clothes at a bargain during sales events such as Black Friday.
Gen Y on the other hand leads adoption in Electronics and Beauty & Personal Care.
4. However, within different sectors, different categories form distinct points of attraction for the various age groups
Black Friday Category Adoption – Age Cut, In % of Black Friday Shoppers
Note(s): 1. Which categories are you looking to purchase during Black Friday 2021?
Within the same sector, there are several differences among the top-selling categories. Gen X has the highest adoption for skincare products among Beauty & personal care products indicating a growing consumer desire to attend to their physical wellbeing.
On the other hand, Gen Y and Gen Z have higher intent to buy casual wear this Black Friday and trendier purchases. Gen Y also capitalizes on more disposable income, driving the adoption across mobile and desktop purchases.