Numerator: Rising prices impacted 64% of Cyber Weekend shoppers
The dust has settled on "Cyber Weekend" and a majority of shoppers say that higher prices impacted their purchase decisions.
That’s according to new insights from Numerator, which found that more than half (56%) of consumers shopped primarily or exclusively online during the Black Friday-Cyber Monday stretch. Out of everyone who shopped over the five-day period, 76% made a purchase on Black Friday.
More than half (56%) of shoppers said they shopped mostly or exclusively online during Cyber Weekend, up from 52% last year. Only 16% of shoppers said they shopped exclusively or mostly in-store this year.
[READ MORE: Adobe: Cyber Monday digital sales expected to set new record of $14.2B]
Almost two-thirds (64%) of shoppers said rising prices had a “moderate to significant” impact on their holiday shopping over the weekend, down slightly from 67% last year. Only 9% of those surveyed said rising prices had no impact (compared to 8% last year).
Among those who said rising prices impacted their shopping, over half (53%) said they are now seeking out promotions and coupons, 42% are buying fewer gifts, and 34% say they have less disposable income due to rising prices on everyday essentials.
Another 34% are shopping at different retailers to find better prices, and more than a quarter (27%) of consumers say they are purchasing items they need now during holiday sales in case prices rise in the future.
Other insights from the Numerator report are below:
•Nearly three-quarters (72%) of this year’s Cyber Weekend shoppers also shopped last Cyber Weekend, according to Numerator.
•Forty-two percent of these buyers said they thought this year’s deals were the same as last year, while 25% thought they were better and 27% thought they were worse.
•Forty-one percent of Cyber Weekend shoppers said they spent about the same amount this year as last year, while 33% spent less and 23% spent more.
•A majority (59%) of Cyber Weekend shoppers also participated in retailer sales events this year, such as Prime Big Deal Days, Target Circle Week, Walmart Holiday Deals, and other early holiday sales events.
Consumers said that the sales gave them a clearer idea of what they wanted to buy on Cyber Weekend (32%), that they felt less urgency to shop Cyber Weekend because they had already taken advantage of good deals (27%), and that they prioritized different types of purchases this weekend than they did during the early sales (25%). Only 8% said that shopping early sales did not impact their shopping on Cyber Weekend.
Numerator’s Cyber Weekend survey was fielded to 9,199 verified shoppers who made a purchase between Nov. 27 and Dec. 1.
