Black Friday and Cyber Monday remain key retail dates for young people

53% of UK consumers are planning to make purchases in the Black Friday/Cyber Monday sales, according to new research commissioned by Treasure Data.

This rises to 75% for 18-34 year olds, 64% for 35-54 year olds, and falls to 35% of over 55s.

Of the 2,000 people surveyed, 23% said they were definitely not planning to make purchases during the discount weekend. Over 55s were the most likely to say that they definitely or probably weren’t (65%), falling to 36% of 35-54 year olds, and 25% of 18-34 year olds.

21% of consumers would not buy from a brand they didn’t know. This rises to three in ten of over 55s, in contrast to 9% of 18-34 year olds.

Those that would buy from a brand they didn’t know, stated the following reasons for returning to said brand: 47% flagged if they were happy with the quality of the product they bought.

27% said if they saw more offers from the brand; And 18% answered if they sent information about other products that appealed to them.

Andrew Stephenson, Director of Marketing, EMEA at Treasure Data, says: “What’s clear is that Black Friday and Cyber Monday remain key retail dates for young people - those that have grown up watching the retail phenomenon evolve and grow.”

“Brands catering to Gen X and Millennial audiences in particular have a huge opportunity to engage new and loyal customers.”

“But while many brands might be tempted to think that eye catching discounts alone will drive sales - our research highlights that many consumers will categorically not buy from a brand they do not know.”

“It makes obvious how critically important it is for marketers to really put the work in to understand where their customers are, and how to reach them, ahead of the discount day.”

“Doing this effectively relies on a robust data collection strategy, and the capability to gain a 360 view of your customers. Retailers must not view the weekend in isolation - whether brands succeed, or fail will come down to which can drive customer awareness and loyalty before and after the major sales.”

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