NRF Prediction: Millennials Will Drive Cyber Monday Surge
Nov. 23, 2015
More people plan to shop on Cyber Monday than on Black Friday, according to a report from the National Retail Federation (NRF). For the first time in its annual Preliminary Thanksgiving Weekend Survey, the NRF asked consumers specifically about their plans to shop on Cyber Monday and found nearly 80 percent—an estimated 184 million unique shoppers—said they will or may shop that day. Only 73.5 percent said they would do the same on Black Friday. For millennials, the numbers were even higher—88.7 percent of 18-24 year olds and 90.9 percent of 25-34 year olds responded “yes” or “maybe” when asked if they will shop online on Cyber Monday compared with 84.3 percent of 18-24 year olds and 80.2 percent of 25-34 year olds who said they will or may shop either in stores or online on Black Friday.
“Millennials love shopping in stores and online over Thanksgiving weekend for several reasons, including the opportunities afforded to them that allow them to splurge on ‘non-gifts’ for themselves and even the potential to sleep in on Black Friday after having spent the night before bouncing from store to store,” said Pam Goodfellow, principal analyst for Prosper Insight and Analytics, the company that conducted the research for the NRF. “For these adults, it’s less about making room for pumpkin pie and more about going out with friends, checking out the deals through their mobile phones and experiencing retailers’ night-owl hours and perhaps making a dent in their shopping lists.”