Data predicts more 'positive' Black Friday and Cyber Monday 2022
This year's Black Friday and Cyber Monday sales are expected to "paint a much more positive picture", according to data from Loyalty Lion.
The data found that 68% of consumers are waiting for BF/CM to make certain purchases, with 67% more interested in BFCM 2022 due to the cost-of-living crisis.
62% of shoppers are looking forward to the BF/CM shopping period, with 65% saying they’ll prioritise shopping with brands they know and trust. 74% of consumers will shop around for the lowest price, 51% for the best returns policy and 64% for the best shipping policy.
However, Loyalty Lion emphasised that some consumers still have concerns about the upcoming BF/CM shopping period and highlights that there is more to be done to win customers over.
54% of shoppers predict that discounts won’t be as good as they expect and 50% predict that the products they want to buy won’t be discounted. In addition, 52% of consumers believe they will get bored of hearing about BF/CM.
Last year, 57% of consumers said that BF/CM 2021 made them feel pressured to make purchases, compared to 36% this year. 56% of consumers said that brands push lower quality products during BF/CM, but this year that number has dropped to 48%.
Commenting on the data, Loyalty Lion said: "Our research shows that consumers are looking forward to Black Friday this year, so it’s really important that brands and retailers act on this opportunity."