According to multiple sources, Thanksgiving Weekend has the potential of being the biggest shopping weekend of the year. This is because of such consumer shopping behavior, which is based on Thanksgiving Sales, Black Friday, Cyber Monday, etc.
CEA states, “37 percent of adults plan to shop on Black Friday itself, with a third of respondents planning to shop in-store.” Many shoppers will be researching and evaluating different products and pricing on their digital devices, such as smartphones and tablets. As more people continue to purchase tablets and smartphones, the ability to compare products and deals from different suppliers (retailers, on-line stores…) becomes further convenient. As I stated in one of my previous posts, “PC Sales Drop, Here Come the New Tablets“,tablet sales are increasing. For example, the iPad Mini has proven to be the best selling iPad ever up to this point based on sales comparisons. Moreover, due to high competition in the tablet market, various companies are focusing and producing tablets. Thus, increasing competition and eventually lowering the price consumers pay for such products. As Android-OS running tablets, Microsoft’s Surface, and other companies continue to produce tablets, Apple has seen a decline in market share. In Q3 of 2011, the iPad had nearly 60% market share, however that number has shrunk to almost 50% in Q3 of 2012 (eMarketer).
Although, Nielsen studies predict that the iPad is still the most popular gift demanded by kids and teenagers this holiday season. Furthermore, according to the research, 48% of surveyed kids (age 6-12) would like to have an iPad in the next six months. Let’s be realistic, kids aged 6-12 are not the target market of the iPad, yet growing popularity has even effected and made kids, as young as 6 years old, a segment for the product and industry kids.
It will be very interesting to see how consumer’s purchasing behavior will alter this holiday season. According to multiple US government agencies, consumer spending is on the rise and people have shown higher spending habits in the latter part of 2012. Will have to wait and see what the results are after the holiday shopping has been completed.
Do you think people are wiling to spend more money this holiday season? Why or why not?