9 Black Friday Consumer Behavior Insights for Businesses Based on Our Survey

The shopping holiday season starts with Black Friday, November 24, and lasts until the end of the year. Сompanies should consider a well-thought marketing strategy based on customers' preferences and expectations to get maximal benefit during the high season.

We surveyed almost 3,000 PissedConsumer users to shed light on shopping trends and customer behavior on Black Friday 2023. This report provides valuable insights into preferred retailers, product categories, shopping habits, and the impact of online channels and consumer sentiment towards this highly anticipated event. The survey results can help companies adjust their business plans to boost sales performance through Black Friday and the entire shopping holiday season.

• Black Friday has remained the most popular shopping event
• Top 5 retailers according to consumer preferences
• Consumers become less interested in Black Friday shopping
• Online shopping is expected to dominate on Black Friday
• Top 3 marketing channels for Black Friday promotion
• Most consumers expect a 50-70% discount
• The most demanded products on Black Friday
• Consumers tend to cut a budget on Black Friday shopping
• Most Customers are ready to write Reviews after Black Friday Shopping

Download the full report for more details, including methodology, age, and geography of respondents.

Black Friday has remained the most popular shopping event

14.9% of surveyed customers said Black Friday is their favorite shopping event. Meanwhile, Cyber Monday is in second place with 12.5%. Businesses should develop marketing campaigns encompassing both events, extending their sales and deals over the weekend, given the gap between these events is only two days. Сonsider exclusive in-store deals for Black Friday and online offers for Cyber Monday to cater to different customer preferences. Moreover, companies might offer more significant discounts on Cyber Monday for those who have already purchased their Black Friday products.

Amazon, Walmart, Target, Best Buy, and Kohl's are the top 5 retailers according to consumer preferences

Consumers prefer world-known retailers with a strong web presence for Black Friday shopping, such as Amazon, Walmart, and Target. Best Buy and Kohl's are also in the top 5 due to offering consumers a unique shopping experience, hot deals, and bonus rewards.

Сonsider a system of discounts and bonuses to attract new and encourage regular customers to shop at your company on Black Friday. Distribute products through retail marketplaces like Amazon or Walmart – let the big names work for you rather than being your competitors. Moreover, It’s necessary to keep up with large retailers regarding shopping convenience and customer service because many consumers are used to their services and consider them a benchmark.

Consumers become less interested in Black Friday shopping

The survey suggests 67.4% of customers don’t plan to shop on Black Friday, compared to 62% in 2022.

Since the previous year, the reason for shoppers lose interest in Black Friday has not changed:

• It’s overcrowded – 19.4%
• Retailers manipulation – 15.8%
• Retailers raise prices – 14.4%
• It’s very stressful – 6.9%

By recognizing the roots of the problem, businesses can think about strategies to address these issues to make the shopping experience smooth and convenient, thus creating a positive impression with customers. Moreover, “No line in checkout” or “Only fair price” can be an excellent pitch for holiday promo to attract attention to the company.

Online shopping is expected to dominate on Black Friday

For most US shoppers, online shopping has long been the predominant way, not just during the holiday season. Our survey showed that 41.3% of consumers plan to shop only online, 46.6% consider online and offline this Black Friday, and 24% plan offline shopping only. 

A solid online presence is a potent competitive edge in all business domains. So, pay attention to the following aspects while preparing for the high season in 2023 to make online shopping smooth and convenient for clientele:

• Ensure a website is user-friendly, mobile-responsive, and capable of handling increased traffic.
• Since consumers plan to shop online and offline, create a seamless customer experience across both channels – for example, implement "In-store pickup" or allow returns for online purchases in physical stores.
• Provide excellent customer service with the help of a responsive support team to assist with inquiries and resolve customer issues promptly.
• Invest in digital marketing strategies such as email marketing, social media advertising, and search engine optimization to promote your Black Friday deals.

Email, online ads, and website are the top 3 channels for Black Friday promotion

The survey suggests that the top three marketing channels shoppers would like to receive Black Friday deals are email at 25.7%, online advertising at 24.5%, and websites at 24%. Only 4.9% of surveyed customers chose traditional offline ads. Businesses should invest in digital marketing to reach and attract maximal shoppers in the current digital landscape. Here are how companies can improve promotional strategy across these marketing channels:

• Segment an email list based on customer preferences, ensuring recipients receive tailored promotions that align with their interests.
• Create dedicated Black Friday landing pages with a clear focus on deals and discounts.
• Consider search engine marketing (SEM) through contextual advertising on search engines to increase visibility during Black Friday.
• Use relevant hashtags to increase visibility and run social media ad campaigns. 
• Encourage user-generated content by running contests and encouraging customers to share their Black Friday shopping experiences.

Most consumers expect 50-70% discounts

35.6% of customers are looking for deals of at least 50-70% off regular prices, while for 29.1% of customers, a 50-70% discount will be sufficient to encourage them to purchase.

Here are a few ideas on how you can attract customers' attention to your deals, remaining them profitable:

• Highlight the most significant discounts on your website, social media, and advertisement.
• Start promoting Black Friday deals before 3-4 weeks to build anticipation and attract early shoppers.
• Create bundle deals or special offers that provide additional value to customers. For example, "Buy one, get one free" or "Spend $X and Get Y% off."
• Emphasize the limited duration of the deals. Countdown timers on your website can create a sense of urgency, motivating customers to make purchases quickly.
• Reward loyal customers or subscribers with exclusive early access to Black Friday deals.
• Encourage customers to add more items to their carts by recommending related or complementary products offering discounts or special deals for larger purchases.

Electronics, clothing, and toys are the most demanded products on Black Friday

The most popular products on Black Friday are electronic gadgets – 25.3 %; clothing and footwear – 18.6%; toys and games – 9%. In addition to competitive discounts on best sellers, companies should think in advance marketing strategy to attract customers because, in these categories, competitors usually offer almost the same price, and it stops being a competitive edge. For example, a unique bonus system or merch as a gift for each purchase can increase holiday sales. However, all marketing activities will bring results if a company provides high-quality products and customer service.

Consumers tend to cut a budget on Black Friday shopping

This year, 52.2% of customers expect to spend from $100 to over $1000. The research also revealed a tendency to decrease shopping budgets in different price ranges compared to the previous year. For example, only 7.3% of surveyed shoppers expect to spend $1000+, compared to 9.3% in 2022.

Most Customers are ready to write Reviews after Black Friday Shopping

A significant percentage, 75.9% of surveyed consumers, are ready to leave online reviews about their Black Friday purchases. Moreover, 50.1% of respondents would “definitely” write feedback about their experience. It makes the shopping holiday season an excellent time for companies to boost their online reputation and get new testimonials. However, companies should ensure customers have a positive experience during shopping, or it may otherwise damage their online brand image.

Download the Black Friday survey report for more details about our survey, including methodology, age, and geography of respondents.