Is Black Friday extinct? More Shoppers Are Turning To Instagram For Deals
(CBS4) - Black Friday is an extinct term. Economists say shoppers and companies are looking a lot different this season, because of a growing trend of shoppers purchasing products on Instagram.
Discounts can now be found on any day supposing you follow the right influencer. Something Lauren Tidewell knows all too well. She has a 19-month-old daughter, a baby on the way and she works in real estate in the Denver metro area.
"As a working mom, I have no time to go to the store," Tidewell told CBS4's Britt Moreno.
That's why she said she is turning to "Instagram first." Thousands of shoppers are discovering this trend is quicker and easier than venturing to a brick and mortar store.
A third of online shoppers now scroll or "like" to find the best deals on everything from clothes, furniture and even cleaning products. Influencers post various deals every single day, which means shoppers are no longer waiting to shop for the deepest discounts on Black Friday. They can find deals any day of the year.
"I don't think that there is a black Friday anymore," said Sally Baalbaki-Yassine, Associate Professor of Marketing at MSU Denver who specializes in social media.
Baalbaki-Yassine said people spend so much time on social media that marketers are now reaching consumers on those platforms. Shoppers are also trusting social media influencers for product insight. Those are the people who don't own or work for a company, but who review products.
Companies are noticing this trend and launching new products only on Instagram for users to buy right there on the app.
Now a swipe, a quick tap or like and consumers are able to buy things in seconds. Millennials shop on social media the most with Gen X shoppers trending that way. Deutche Bank projects shopping on Instagram could be a $10 billion market by 2021.
