According to a BDO USA survey of 100 chief marketing officers at leading U.S. retailers, the expectation or Black Friday/Cyber Monday sales is “solid but not stellar.” The BDO survey revealed that just 27% of CMOs surveyed expect to see an increase in Black Friday sales, down from 38% in 2010. Similarly, only 24% project an increase in Cyber Monday sales, with the vast majority (74%) expecting flat sales. Overall, CMOs project a 1.6% increase in Black Friday sales (down from 3.8% in 2010) and 2.5% increase in Cyber Monday sales.
Intense competition with retailers planning big discounts earlier in the season are expected to have a negative effect on Black Friday and Cyber Monday sales, according to the survey. A vast majority of CMOs (78%) said they expect to see more discounts and promotions overall this holiday season compared to last year.
“Black Friday is not disappearing, but deal-fatigued shoppers have been there and done that,” said Ted Vaughan, partner in the Retail and Consumer Product Practice at BDO USA, LLP. “With new promotional strategies and earlier discounting, retailers are looking to create more spending triggers to get an edge and keep inventory moving throughout the season.”