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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Contacts:
Brett Cody
Pitney Bowes
M +1 203 218 1187
brett.cody@pb.com
