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Published on : Wednesday, November 27, 2013
A new generation of shoppers awaits to descend on stores this Black Friday – and they’re ready to do what it takes to get a good deal. A recent Harris Interactive survey* conducted on behalf of Wyndham Vacation Rentals®, the world’s largest professionally managed vacation rental business, finds that 89 percent of Millennials (U.S. adults ages 18-34) are willing to shop on Black Friday this year. The study also reveals that nearly two in five Americans (39 percent) would spend more on holiday gifts if they could get a great travel deal on their next vacation.
Gearing up to snag some of the season’s best savings, the younger generation is more willing to sacrifice sleep for an early start. Burning the midnight oil, these Millennials are four times more likely to line up or shop at 12:00 a.m. for Black Friday deals than adults ages 35 and older (24 percent vs. six percent), looking for early access to valuable discounts. But their dedication doesn’t stop there – they’re also more likely to compete with other shoppers who have comparable wish-lists.
When asked what they’d do if they happened to grab the last of a coveted item at the same time as another shopper, 28 percent of Millennials said they would grab the item and run, as compared to only 18 percent of adults ages 35-64 and eight percent of adults ages 65+ who would do the same. Unwilling to lose out on a deal, Millennials who have shopped Black Friday in the past are also twice as likely to have had a dispute with another shopper during Black Friday, as compared to shoppers ages 35-54 (12 percent vs. six percent).
Though Millennials seem to be raising the Black Friday stakes, their intentions are rooted in true holiday spirit. Sharing their savings with loved ones, 67 percent of Millennials who’ll shop this year are somewhat likely to put the money they save shopping on Black Friday or Cyber Monday toward a vacation for themselves, their family, or others. The younger generation is also more likely to splurge on others when they can save on their own planned purchases, with 58 percent agreeing that they’d spend more on holiday gifts if they knew they could get a great deal on their next / upcoming vacation.
“Black Friday is growing to encompass deals on all different types of gifts to accommodate the new shopper,” said Bob Milne, president, Wyndham Vacation Rentals North America. “Gifting is becoming as much about memorable, shared experiences as it is about the tangible product. Our survey found that 41 percent of Americans have purchased travel as a gift for the holidays in the past, with 49 percent of Millennials going that route. As more and more companies begin offering Black Friday deals, regardless of whether or not their product can be shelved in the traditional sense, this time-honored shopping holiday will continue to evolve.”
The survey also revealed a number of other interesting findings regarding consumers’ attitudes toward the Black Friday and Cyber Monday holiday shopping experience:
• Many sale shoppers gift their savings forward. Following the Millennial mindset of sharing savings with loved ones, nearly 2 in 5 Americans (39 percent) would be willing to spend more on holiday gifts if they knew they could get a great deal on their next vacation.
• Shopping online can ease the stress of the holiday rush. Three times as many people find the Black Friday experience to be stressful (56 percent) compared to Cyber Monday (18 percent), so look for Black Friday deals online to get the best of both worlds.
• Parents tend to shop harder when their kids’ wish-lists are on the line. Parents with young children living at home are three times as likely to have had a dispute with another shopper on Black Friday in the past as non-parents (12 percent vs. four percent). Parents who will be shopping on Black Friday this year would also be more likely to grab a coveted item from another shopper and run if they were to both reach for the item at the same time (24 percent vs. 18 percent).
• As crazy as the holiday season can get, civility wins out in the end. Four in five likely Black Friday shoppers this year would opt to either give up an item or discuss a solution rationally if they were to simultaneously grab the last of a coveted item with another shopper.
• Shoppers won’t just wake up early for anything! For companies looking to lure shoppers out of their turkey-induced slumber, the average minimum discount it would take for Americans to get up early on Black Friday is 46 percent. Nearly half (47 percent) of Americans would go out early for deals of 50 percent or more.
Expanding Black Friday’s reach beyond tech, Wyndham Vacation Rentals will be rolling out special sales across all of its U.S. vacation destinations. Visit the Deals page at WyndhamVacationRentals.com and keep an eye out for significant Black Friday savings.
Source:- Wyndham Worldwide