At the end of this month, North America will usher in the annual Black Friday shopping season, a day that usually means a shopping frenzy among local consumers and is of great significance to retailers.
However, a new survey shows that this year's "Black Friday" has undergone a significant change compared to previous years, with a considerable proportion of consumers not following the old "shopping spree" mentality and purchasing giant TVs and luxury goods. They don't buy high-value goods like home appliances, but only things that meet their daily needs.
A Lightspeed survey of more than 3,000 adults in the United States and Canada found that nearly half of the respondents said they planned to allocate their spending between necessities and luxury goods, while a quarter of consumers said they planned to buy only everyday necessities such as groceries, toiletries, and household goods on Black Friday.
In a statement, Dax Dasilva, founder and CEO of Lightspeed Commerce, said that Black Friday remains a critical moment for retailers, but consumer behavior is shifting as they face pressure from rising living costs.
Anxious consumers
For US consumers, 2025 will still be a year of competition with Qualcomm. A year of battling inflation. Despite President Trump's claims that the United States has defeated inflation, data and polls do not support this assertion.
Federal Reserve Chairman Jerome Powell also stated in August that inflation remains high, but has declined from its post-pandemic peak. Raymond Robertson, a labor economist at Texas A&M University, predicts a potential surge in grocery prices in the U.S. this winter, and agricultural product prices in early next year. Prices could even rise by 50% to 100%.
Walmart CEO Doug McMillon also warned that their customers are very anxious, as people generally run out of money by the end of the month, so they usually only buy small packages of goods at the end of the month.
What worries retailers even more is that some customers are hesitant to shop on Black Friday because they don't believe in the authenticity of the Black Friday discounts.
A Lightspeed survey revealed that 84% of consumers believe retailers inflate prices before promotions to exaggerate discounts. Dasilva therefore suggests that retailers provide more transparent explanations of their pricing strategies; only when consumers feel secure will they make informed purchases and reduce returns.
(Article source: CLS)
