Ankura Releases 2025 Holiday Shopping Survey: Rethinking Black Friday and Embracing AI

Ankura Consulting Group, LLC (“Ankura”), a leading global expert services and advisory firm, is excited to announce the release of its 2025 holiday shopping survey, gathering insights from over 1,000 shoppers across the U.S. Our findings reveal a holiday season like no other, with traditional Black Friday losing its significance amidst a rapidly evolving retail landscape.

The survey underscores a pivotal shift: AI’s growing importance for retailers aiming to stay competitive. Chris Ventry, Managing Director at Ankura, notes, “This holiday season’s challenges highlight the need for retailers to harness the power of AI to stay competitive. Our survey shows that consumers are becoming more sophisticated and are actively seeking highly personalized deals. Retailers who leverage AI to create a unique shopping journey—from personalized product recommendations to dynamic pricing—will be the ones that succeed.”

Despite technological advancements, shoppers yearn for nostalgic in-store experiences. Keith Jelinek, Ankura Performance Improvement co-leader, emphasizes, “While the shift to online shopping is undeniable, our survey reinforces that physical stores remain a crucial part of the consumer experience. To win this holiday season, retailers must focus on optimizing their in-store promotions and events.”

Our research shows customers are craving real-life interactions and traditional Black Friday sales. Retailers can capitalize on this by reviving classic shopping pilgrimages, complemented by enticing doorbuster offers. Last year, outlet malls, Target, and Walmart saw increased foot traffic as consumers bypassed traditional malls in search of deals. In-store-only deals, combined with perks like cookies, coffee, and exclusive gift cards, can provide compelling experiences that online shopping lacks.

With the U.S. consumer base facing economic challenges reminiscent of previous downturns, Ankura’s survey offers strategic insights for retailers to adapt and provide clear value. Although half of consumers now view Black Friday as unimportant, meaningful discounts of at least 30% could reignite interest and revive in-store shopping.

Ankura has compiled a playbook for the 2025 holiday season, offering actionable strategies for retailers to enhance their operations. For more information or to speak with an Ankura expert, download your copy now.