Black Friday and Cyber Monday have traditionally been highly anticipated by consumers as opportunities to score great deals on products. However, a recent report commissioned by LoyaltyLion reveals that many UK consumers are increasingly dissatisfied with these retail events. The ‘New Discounting Playbook’ report highlights nine negative observations and calls for a revamp of the rules in order to attract long-term revenue.

According to the report, out of the 2,000 consumers interviewed, a staggering 57% expressed disappointment that Black Friday and Cyber Monday discounts are often not as good as they expect. Furthermore, 58% reported that the products they actually want are rarely discounted, making the event less relevant to their needs. On top of that, 58% felt pressured into making purchases they wouldn’t have considered otherwise due to the discounts.

An alarming finding from the report is that 54% of UK consumers believe that brands tend to push lower quality products during Black Friday and Cyber Monday. This perception has resulted in a decrease in trust in brands for 53% of the respondents. Moreover, 56% of consumers feel that brands prioritize selling products over supporting causes or living their values during these events. Additionally, 54% expressed dissatisfaction with brands’ lack of preparation for the surge in orders they receive during this period.

Interestingly, half of the respondents feel that brands do not provide enough communication after a Black Friday or Cyber Monday purchase. Conversely, 54% believe that brands bombard them with excessive promotional messages leading up to and during the events.

Charlie Casey, CEO at LoyaltyLion, commented on these findings, stating that “Once a feel-good Friday of deals, our research found that the now month-long Black Friday and Cyber Monday event is one that customers no longer altogether trust.” Casey emphasized that while there may still be some good bargains available, a significant proportion of shoppers feel that the discounts are not as appealing as they are portrayed to be.

Despite the negative sentiment surrounding Black Friday and Cyber Monday, the report also offers alternative methods for brands to recreate the excitement and positive feelings associated with snagging discounted bargains. The research indicates that offering free or discounted delivery would encourage positive sentiment among 78% of consumers. Similarly, providing loyalty points that can be redeemed against future purchases would contribute to a positive perception of a brand for 73% of respondents.

Other strategies to enhance consumer sentiment include special birthday offers (72%), promotions that offer early access to sales (66%), and early access to new products (65%). Additionally, 61% of consumers stated that they would view brands favorably if they offered the opportunity to contribute to a charity or initiative aligned with their personal values.

Overall, the report reveals a significant level of dissatisfaction among UK consumers regarding Black Friday and Cyber Monday. Brands must take note of these findings and explore alternative methods to attract and retain customers while ensuring they feel valued and appreciated.

Useful Links:
1. How to Fix Black Friday: Creating Perks Without Discounting
2. 10 Examples of Black Friday Campaigns That Drive Long-Term Revenue