Pitney Bowes / Morning Consult Survey: Black Friday, Cyber Monday finds favor among young adults
November 27 2019 - 10:20AM
Business Wire
37% of Gen Z, 28% of Millennials and nearly 25%
of all shoppers will have completed their holiday shopping by
Monday night
Young adults start and complete holiday
shopping earlier than their parents.
Pitney Bowes (NYSE: PBI), a global technology company that
provides commerce solutions in the areas of ecommerce, shipping,
mailing, data and financial services today released new survey
results on holiday shopping behaviors leading up to Cyber Weekend
(Black Friday / Cyber Monday).
A Pitney Bowes / Morning Consult survey of 2,200 US residents
found that younger generations are more likely to participate in
Cyber Weekend sales than older generations and also tend to start
and complete their holiday shopping earlier. Among holiday
shoppers:
- Younger generations are shopping earlier than last year, with
33% of Generation Z (age 18-22) and 23% of Millennials (age 23-38)
shopping earlier, compared to 20% of Generation X (age 39-54) and
16% of Baby Boomers (age 55-73).
- Sixty-five percent of Gen Z and Millennial holiday shoppers say
they will participate in Cyber Weekend sales, compared with 58% of
Gen X and Baby Boomers.
- Twenty-one percent of Gen Z will do all of their holiday shopping on Cyber Weekend,
versus 12% of Millennials, 8% of Gen X and 3% of Baby Boomers.
- Nearly a quarter (23%) of all holiday shoppers, including 37%
of Gen Z and 28% of Millennials, say the will have completed their
2019 holiday shopping by Monday night.
“Black Friday isn’t just a 24-hour period anymore, it’s a
season,” said Lila Snyder, EVP and President, Commerce Services at
Pitney Bowes. “Retailers are offering deals earlier than ever, and
many shoppers, particularly young shoppers, are leveraging those
deals to finish their holiday shopping with a full month to spare
before Christmas.
“This survey also reveals that Black Friday and Cyber Monday are
great opportunities to make lasting brand impressions on young
adults,” said Snyder. “To attract and keep these consumers,
retailers must deliver a first rate post-purchase experience,
including a compelling free shipping offer, accurate tracking, and
free and easy returns. Above all, they must keep their
commitments.”
Earlier this month, Pitney Bowes released the findings of its
2019 Online Shopping Study which underscored Snyder’s point. Among
the Study’s key findings: 60% of online shoppers in the US are
dissatisfied with their holiday shopping experiences, up four
percentage points from last year, and nearly double the number from
just four years ago. The top three reasons for consumer frustration
are: delayed shipments; shipping costs; and inaccurate tracking.
What’s more, nearly nine out of 10 consumers said that they will
make a complaint or take an action that could hurt a brand’s
reputation and bottom line following a bad post-purchase
experience. Among them, nearly one-third said a bad post-purchase
experience is cause for never shopping with the offending brand
again.
Among all holiday shoppers, the Pitney Bowes / Morning Consult
poll found:
- Sixty percent will shop on Black Friday / Cyber Monday
- Fifteen percent said they’ve already finished their holiday
shopping.
- Twenty-five percent said they will conduct all of their holiday
shopping after Cyber Monday
The Pitney Bowes / Morning Consult poll was conducted between
November 22-November 24, 2019 among a national sample of 2,200
Adults. The interviews were conducted online and the data were
weighted to approximate a target sample of Adults based on age,
educational attainment, gender, race, and region. Results from the
full survey have a margin of error of +/- 2 percentage points.
Methodology for Pitney Bowes Online Shopping Study 2019: the
Pitney Bowes Online Shopping Study 2019 is based on survey results
of more than 8,000 consumers globally, including more than 3,000 US
consumers, ages 18 and up.
About Morning Consult
Named one of the fastest growing technology companies in North
America by Deloitte, Morning Consult is revolutionizing ways to
collect, organize, and share survey research data globally to
transform how leaders in business and government make decisions.
Morning Consult provides brand-tracking technology, survey
research, and news for hundreds of the world’s biggest companies
and industry associations. Additionally, Morning Consult conducts
regular surveys for major media organizations including POLITICO,
The Hollywood Reporter, Bloomberg, and The New York Times.
About Pitney Bowes
Pitney Bowes (NYSE: PBI) is a global technology company
providing commerce solutions that power billions of transactions.
Clients around the world, including 90 percent of the Fortune 500,
rely on the accuracy and precision delivered by Pitney Bowes
solutions, analytics, and APIs in the areas of ecommerce
fulfillment, shipping and returns; cross-border ecommerce; office
mailing and shipping; presort services; location data; customer
information and engagement software; services; and financing. For
nearly 100 years Pitney Bowes has been innovating and delivering
technologies that remove the complexity of getting commerce
transactions precisely right. For additional information visit
Pitney Bowes, the Craftsmen of Commerce, at
www.pitneybowes.com.
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Media Contact: Brett Cody Pitney Bowes M +1 203 218 1187
brett.cody@pb.com
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