New Study Reports over One-Third of People Plan to Shop on Cyber Monday

New Study Reports over One-Third of People Plan to Shop on Cyber Monday

iModerate Author

Nov 21, 2011

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Denver, CO (November 23, 2011)- A recent Consumer Pulse study of over 1,400 U.S. consumers conducted by Boston-based custom research firm, Chadwick Martin Bailey (CMB), and iModerate Research Technologies looked at how people are planning their Black Friday, Cyber Monday, and gift buying this holiday season, and what drives them to and from the retailers who want their business.

Cyber Monday—the Monday after Thanksgiving when online retailers historically offersteep discounts and special promotions, is gaining ground with its in-store counterpart Black Friday in terms of expected activities. While it still lags behind Black Friday in volume of sales (according to ComScore, Cyber Monday is the heaviest online shopping day of the year with sales topping $1 billion in 2010, compared to  the same year’s Black Friday sales of  $10.6 Billion) 38% of people plan to shop on Cyber Monday while a nearly identical percentage (39%) plans to shop Black Friday. And it’s not a zero sum game, 61% of Cyber Monday shoppers will also be searching stores for deals the day after Thanksgiving.

“Online retailers have clearly taken notice and are making strong preparation,” says Jeff McKenna, Senior Consultant at Chadwick Martin Bailey. “You will be seeing a big push by online retailers concurrent with Black Friday events as they seek to attract online shoppers. Knowing that many Black Friday shoppers also intend to shop online, they are a prime target for online offers.”

The study also looks at promotions motivating holiday shoppers, more than half (52%) of online shoppers list free shipping as the number one motivation to purchase. In-store or online, consumers are on the hunt for deals, only 15 % plan to spend more, half plan to spend the same as last year, and nearly a third intend to spend less.

To fully contextualize this research, iModerate conducted one-on-one conversations with 22 Americans over age 18. In the words of holiday shoppers: “I want to get more gifts but spend the same amount of money. I will try harder to use coupons and look for good deals than in previous years.” – Female, 30 to 34

“Sales and coupons are VERY important. I keep my eye out for sales, especially online. I’ll usually look out for coupons for my grocery shopping, stocking stuffers, and decorations.”-  Female, 25 to 29

About This Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. A report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,481 adults (aged 18 and over) via a nationally representative online survey questionnaire within the United States by Chadwick Martin Bailey in October of 2011. In addition, iModerate Research Technologies conducted one-on-one online conversations to more fully contextualize their holiday shopping plans.

About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables. www.cmbinfo.com

About iModerate Research Technologies
iModerate Research Technologies is a leading qualitative market research firm with a distinct approach to uncovering the most meaningful insights. Based in Denver, Colorado and founded in 2004, iModerate is known for pioneering and championing the online one-on-one. With over 100,000 conversations to our credit, and an in-depth knowledge of how consumers think and behave, we have helped countless organizations obtain the insights that matter most to them. For more information please visit www.imoderate.com

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iModerate Author

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Tara Hutton, Director of Marketing Research, Consumer Electronics Association