Study: Black Friday promotional spend down 15% as retailers shift to mobile, social media outlets
SOLON, Ohio — Overall, promotional trade spend for Black Friday was down 15% for 2012 compared to 2011, according to an ECRM report released last week.
Many retailers are strategically shifting their focus to social and mobile. However, the substantial growth in mobile applications from both retailers and third parties may have given way to inaccurate data and tedious functionality that has frustrated the consumer and resulted in lost opportunities. The same is true with social media, the company noted. "With social media, the conversation can easily lose focus, and the intended message becomes unclear."
And Black Friday deals might not be the bargains you thought they were, according to the study, which examined Black Friday and Cyber Monday promotions. Some products featuring blowout prices could have been bought for less money earlier in the year. For example, Kmart promoted a 32-in. LED television for $229.99 over Black Friday, but had been selling the identical product for $198.88 in October. And 87% of products advertised on both Cyber Monday and Black Friday were more expensive on Cyber Monday, ECRM reported.
For the complete report, click here.