Every year, thousands of sale lovers look forward to the end of November. This is when Black Friday, the biggest shopping craze of the year, takes place. Retailers have been preparing for months to finally, on 29th November, unveil the best promotions and discounts for their clients.
Originally, Black Friday used to be known only in the United States. However, in the last few years, the event has spread to other continents, including our country. New Zealanders have welcomed with opened arms the opportunity to participate in huge sales and make great savings.
In which part of New Zealand is Black Friday the most popular? What are the differences in attitudes toward sales among men and women? How much money are New Zealanders willing to spend and on which products? Where and when do New Zealand consumers shop? Picodi.com analysts look closer into the Black Friday phenomenon and answer these questions.
Black Friday is not the only shopping holiday in November. Although still not as prominent in New Zealand, in many countries Singles’ Day is celebrated on November 11th. Named after the multiple “one” numbers in the date, representing people who are single, Singles’ Day originated in China. The high discounts offered on that day attract huge crowds, especially in Asia.
The survey conducted by Picodi.com shows that Black Friday clearly rules in New Zealand. Among respondents who took part in one of November shopping holidays, 73 per cent participated in Black Friday sales. 23 per cent took advantage of both Black Friday and Singles’ Day. Merely 4 per cent answered that they took part in Singles’ Day only.
Black Friday sales are popular among both male and female citizens of New Zealand. As much as 59 per cent of female respondents are going to take part in Black Friday — it is only 5 percentage points less than male shoppers.
Women purchase more products: 4.8 in comparison with 2.3 bought by men. Paradoxically, men spend more money than women on Black Friday. An average woman is willing to spend around NZ$168, while an average man around NZ$218.
The reason behind such a difference may be the fact that on Black Friday one of top categories of products bought by men is electronics. Other than that, both male and female shoppers chose clothing and shoes as their top purchases. What is more, women spend 56 per cent more time on shopping compared to men.
Black Friday is all about the promotions. In this case as well, men and women have separate preferences. The surveyed women choose a higher discount on selected products as their favourite type of promotion. The second place takes a discount coupon or code, and a lower discount on an entire range of products is in the third place. On the other hand, men’s favourite promotion is a discount coupon. It is followed by a lower discount on an entire range of products and then a higher discount on selected products.
The popularity of online shopping is rising year after year, especially because of events such as Black Friday or Singles’ Day. 71 of the surveyed New Zealanders are going to shop online on Black Friday. One-fifth of respondents (21 per cent) decided to shop in both online and offline stores. Only 8 per cent are going to shop exclusively in brick-and-mortar stores.
One of the reasons against shopping in malls is having to wait in lines. Although in New Zealand the situation is not as extreme, in some countries, special tutorials are created on how to endure the neverending queuing on Black Friday. Nevertheless, not everyone is willing to waste their time standing in line. Among New Zealand respondents, as much as 32 per cent of women and 26 per cent of men declare that they would rather give up on purchasing a product than wait in line.
Those who decide to place orders online do not have to worry about queues and can shop around-the-clock. On the New Zealand Internet, the peak of shopping activity falls at 5 PM. Consumers make purchases at home, during the commute, or even at work — 52 per cent of surveyed New Zealanders admitted that they buy while working.
The report is based on archival statistical data of the Picodi.com platform, as well as a survey conducted on behalf of Picodi.com between 9-20 October 2019.
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