Bargain HuntingPicodi.com reports and analytics

Black Week: time for sales lovers

PicodiNovember 16, 2020

For years, Black Friday has attracted the interest of many Nigerians. This shopping holiday, which comes from the United States, draws in crowds of consumers who are making the best of the discounts offered to them. That is why, seeing the interest of clients, stores decided to expand their offers for the entire week, not just Black Friday. Thanks to that, discount lovers can enjoy rebates from the Monday preceding Black Friday until Cyber Monday.

Picodi.com analytics decided to check the attitude of Nigerians toward Black Friday, where in Nigeria the interest in Black Week sales is the biggest, as well as how much money consumers spend and what they buy.

To buy or not to buy?

Nigerians and Black Friday

More than three-quarters of Nigerians (78 per cent) took part in last year’s Black Friday sales. Although this number may surprise, in reality not all consumers participated in the sale on Black Friday itself. 60 per cent of shoppers decided to shop on Friday, but as much as 34 per cent did their shopping from Monday to Thursday, and 28 per cent enjoyed special offers over the weekend after Black Friday (Saturday and Sunday).

The vast majority of shoppers (77 per cent) was satisfied or rather satisfied with their Black Friday experiences. 21 per cent of respondents were rather unsatisfied, and the remaining 2 per cent was unsatisfied with their Black Friday shopping.

Among the people who did not take part in last year’s Black Friday, the most common reason (38 per cent of answers) was that they simply missed the event. 30 per cent of people taking part in the survey said that they did not know what Black Friday is at all. The remaining pointed out that the discounts were too low or that the products that they wanted to buy were not on sale (16 per cent each).

States where people love promotions

WHERE IS BLACK FRIDAY LOVED THE MOST?

Based on online search queries, we found the states where the interest in Black Friday sales increased the most from 2016 to 2019. Kebbi took the first place — in this state, the interest in discounts increased as much as 1,300 per cent. Taraba placed second with a 1,000 per cent increase. Bayelsa, where the increase of interest amounted to 967 per cent, completed the podium.

The least interested in Black Friday sales are citizens of Nasarawa where the search queries dropped by 63 per cent.

Big bucks

FINANCIAL ASPECT OF BLACK FRIDAY

Statistically, Nigerians spend ₦26,000 on Black Friday. It is worth noting that men spend a lot more money than women during Black Friday sales: ₦28,988 vs ₦22,000. It doesn’t necessarily mean that men buy more than women — they could just buy more expensive items.

When asked about Black Friday spending, many respondents claimed they are going to spend a similar amount as last year (32 per cent). More than half is planning to spend more (52 per cent), and 16 per cent is going to spend less money than last Black Friday.

People who are going to spend more usually justified their answers by the fact that they are simply planning to buy more products (61 per cent indicated such reason). 37 per cent is going to buy some expensive item this year, such as electronics or home appliances. 12 per cent is going to buy more luxurious products than last year. On the other hand, among the people who are planning to spend less, 23 per cent said that their smaller budget is caused by job loss. 41 per cent is not planning expensive shopping this year, and 40 per cent is going to buy fewer items.

Selling like hotcakes

THE MOST DESIRED PRODUCT CATEGORIES

Invariably, electronics are among the products which rule during Black Friday sales. It is the most frequently chosen category of products — 43 per cent of consumers will buy electronics. Clothes (40 per cent) and shoes (21 per cent) were the second and third top categories.

Home appliances and grocery tied for the fourth place (18 per cent each), followed by cosmetics and food on delivery (16 per cent each). Child care products were less popular during Black Week (14 per cent). Sports items and jewellery rounded out the top ten categories with 12 and 11 per cent respectively.

Methodology

All statistical data comes from Picodi.com, a global discount platform operating since 2010. The survey conducted in September 2020 was also used in the report.

Public Use

Would you like to share information about Black Week with your readers? All the data and infographics presented in this report can be freely used for both commercial and non-commercial purposes as long as you indicate the author of the research (Picodi.com) with a link to this subpage.