As the holiday shopping season quickly approaches, a new report finds more holiday shoppers are turned off by Black Friday.
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Only 35% of shoppers intend to do most of their shopping on Black Friday this year, according to PwC, down from 59% in 2015.
Steven Boal, founder of Quotient, says Black Friday deals are no longer restricted to one day, telling the FOX Business Network’s Maria Bartiromo, “It sure feels like every day is Black Friday. In fact, I got an email this morning from Walmart saying ‘here’s your Black Friday circular in advance, but deals are on sale now, come look at them.’”
When Bartiromo asked if this was a result of the Amazon effect, Boal responded, “It’s certainly getting interesting, you know, with Amazon and Whole Foods particularly locking up recently.”
Boal says it is also a broader “technology effect” on the brick-and-mortar retailers, saying on “Mornings with Maria,”“As it stands today, retailers are knowing their shoppers so well and they know them before they walk into the stores, they can actually have an influence on what they’re going to buy right before they even get into the store. It almost feels like you’re getting a Black Friday deal that’s personalized to you all the time now.”
According to Boal, brick-and-mortar retailers have to improve the customer experience, beginning in the parking lot, to be able to compete against Amazon (NASDAQ:AMZN).
“The experience has to be very good because the barrier is so high right now. It’s very easy for you to get online and order something and with free shipping and expedited shipping and like you said before, the ‘Amazon effect,’ you know, you can get things delivered in two or three hours now.”
But Amazon may need to prepare for the comeback of Walmart (NYSE:WMT).
“What I think people should pay attention to now is Walmart’s getting a lot of its mojo back with their acquisition of Jet.com and Mark Lowry joining that company… he’s having a big effect on the changes that are going on.”