Black Friday has been a long-standing American pastime, one that creeps closer and closer into Thanksgiving every year. For many Americans, it is accompanied by images of people shoving and trampling each other to get their hands on the hottest discounts, giving a redefined meaning to the term “door-buster.” And, according to the NRF, nearly 102 million consumers shopped in brick-and-mortar stores over the Black Friday holiday weekend this November, where the retail advertising buildup beforehand represented a billion plus dollars.
So, the decisive question remains—who were the retail winners and losers in the ultimate annual competition of reaching those 102 million consumers effectively? Placed and Kantar came together again to merge their intelligence and evaluate the amount of incremental store visits per dollar of advertising, measuring the success through the metric of ‘lift visits per ad dollar.’ This measure was then converted to an index scale, assigning an index of 100 to the highest lift visits per ad dollar and scaling all other values against it.
This year’s analysis revealed that consumers are on the prowl for the latest and greatest electronics, particularly when it comes to Black Friday deals. Best Buy came away as the winner: with $24.2 million of ad expenditures, Best Buy experienced a 125% lift in store visits, obtaining the top efficiency index of 100. In second place behind Best Buy comes JC Penney with an efficiency index of 75, claiming the top spot for the department store and mass merchandiser category. And when it came to the battle of Walmart vs. Target, it was pretty close: Walmart experienced an efficiency index of 65, with Target on Walmart’s tail with an index of 63.
The digital cousin of Black Friday, Cyber Monday has stolen some of the holiday shopping spotlight. Regardless, the 2015 findings highlight that pre-Thanksgiving advertising spend remains not just important, but actually successful in generating foot traffic—proving the reality of holiday retail: Black Friday isn’t dead, it’s just different. Download the full report here to learn more.
‘Tis the season for holiday spending forecasts, quick tips on how to save, endless recommendations on where to buy and when to shop. But as a new study from Placed and RetailMeNot finds, one word binds marketers, advertisers, and shoppers together in 2015: omnichannel. This first annual study surveyed over 10,000 respondents from Placed’s audience, taking a deep dive into the 2015 holiday shopping landscape. The insights inform retailers everywhere on how they can win consumer bucks, a challenge that becomes progressively more gigantic each year.
Fortunately for retailers though, the abundance of predictions for 2015 holiday spending are positive. With US consumers set to pay the cheapest prices for gas since 2008, according to the AAA, estimates for shopper spending is optimistically rising. “State of Holiday Shopping” found that nearly 82% of consumers plan to maintain or increase their holiday shopping budgets this year over 2014, setting the retail landscape to be one strong in numbers.
In fact, the study quantified just how optimistic retailers should be:
- $492.72. The average amount consumers plan to spend on gifts.
- 28%. The amount of shoppers who are planning to increase their holiday spending over 2014.
- $159.13. The average increase in spend per shopper who is planning to spend more.
When asked how they envision how this holiday shopping spend to break out in terms of offline versus online in comparison to last year, consumers affirm the omnichannel holiday shift:
- 25% of shoppers plan on doing more online shopping
- 11% plan to do more in-store shopping this year over last year
- 19% of shoppers plan to do more of both
In 2015, this omnichannel shopper shifts from minority to majority with 55% of consumers planning to holiday shop equally online and offline. In years past, marketers have watched as digital accelerated retail down the omnichannel path; now, this holiday season will pave 2015 as the year of the omnichannel shopper.
Download the White Paper for more key insights into the 2015 holiday shopper at www.placed.com/resources/white-papers/state-of-holiday-shopping-2015.
Placed has released it’s monthly top 100 business ranking, based on in store foot traffic, for December. This month’s big movers, highly influenced by the crucial holiday shopping season were almost entirely clothing and specialty retailers. Led by Macy’s, whose 25 point month-over-month change is a Placed 100 record, the list included Bath and Body Works, Victoria’s Secret and of course Toys ‘R’ Us.
This month’s top 10 movers:
Another interesting story found in the results, comes by way of Sprint. As detailed in Placed’s recent white paper, Sprint is in the middle of a massive “Cut your bill in half” campaign. While Sprint did not gain in the rankings, they were able to remain constant while competitors all fell during the month echoing the white paper results.
The Automotive category took the biggest hit this December led by Auto Zone and Enterprise Rent-a-car, both dropping 11 points in the rankings.
View the full rankings here.
On December 5th Sprint launched, “The Cut Your Bill in Half Event,” where consumers could bring a copy of their Verizon or AT&T bill to a Sprint store and their Sprint would cut their bill in half. Beyond the aggressive discounting, this promotion was unique in that it required a consumer to go into a Sprint store to complete the offer.
With the world’s largest opt-in location panel, Placed was able to directly measure the change in store visits to Sprint store as compared to the other wireless carriers. The results in the first two weeks were clear, this promotion is having a material impact in offline visits.
- Week 1: Sprint saw the largest % increase in foot traffic across all wireless carrier stores
- Week 2: Sprint increased foot traffic market share by almost 3% since the start of the sale
Download the White Paper, Foot Traffic Impact of Sprint’s ” The Cut Your Bill in Half Event” for additional details including corresponding TV spend.
The November Placed 100 was released today highlighting last month’s big movers in terms of foot traffic. November is always a critical month given Black Friday and the holiday shopping crush. Not surprisingly, many of the businesses with the biggest jump in the store visit rank were retailers.
Leading the charge was American Eagle Outfitters, who not only cracked the top 100 for the first time, but did so by moving up 17 positions to number 84. A host of other fashion retailers were also big movers including JC Penny (+17), Victoria’s Secret (+16), Marshall’s, Ross and Old Navy. Toys also made a big push as Toys ‘R’ Us was up 16 spots, also cracking the top 100 for the first time.
Foot traffic to stores selling electronics, the ever-popular holiday gift, were up across the board, led by Best Buy (+8), GameStop (+7), and mobile phone providers T-Mobile, Verizon and Sprint.
Dropping in the store visit rankings this month were quick serve restaurants like Dairy Queen (-15), KFC (-10), and Domino’s Pizza (-9). Thanksgiving dinner this year, apparently was all home cooking. Travel related business such as gas stations and hotels saw declines in foot traffic, following the end of the busy summer travel months.
View the full Placed 100 to see the other big movers last month.