In spite of all the early Black Friday promotions, procrastinators still exist in large numbers with many planning to wait until the week before Christmas to do most of their shopping, according to a new study by Cardlytics, as reported by FierceRetail. This could be good news for photo retailers and online photofinishers who offer fast and affordable shipping or have apps featuring retail pick up.
Cardlytics divides shoppers into four groups based on bank transaction data: early birds, Black Friday deal hunters, last-minute shoppers, and the slow and steady. While many are indeed shopping earlier—last week the National Retail Federation (NRF) reported 60 percent had already begun whittling down their gift lists—and Black Friday sales and staggered deals replace the morning rush, this group is small and spends the least, according to Cardlytics.
The last-minute holiday shopper spends more than those who plan ahead
Roughly 36 percent of shoppers buy the bulk of their gifts at the last minute, the report said. This holiday shopper segment is the largest and still growing, and they also spend more than those who shop early in the season. They visit stores more frequently as the holiday deadline looms and contribute to 34 percent of overall holiday spending, with an average transaction of $64.34.
The promise of fast and free shipping is making it easier for procrastinators, who can easily wait until the week before Christmas. FierceRetail says this is good news for Amazon as it seeks to grow its Prime membership because the lure of free two-day or same-day delivery could drive shoppers to sign up for the annual service, but it’s also a good sign for photo companies offering convenient retail pick-up through their mobile apps.