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Black Friday: Hit or miss?
Picodi.com analysts checked how interest in Black Friday sales has changed over the years and conducted a survey among internet users to find out:
- what buyers think of Black Friday,
- why some people don't like it,
- how many people are trying to shop on November 26, 2021
- and which product categories are most popular among customers.
Big drop in interest
In 2020, Black Friday took place for the first time during the pandemic. Data obtained from Google Trends shows that the number of search queries related to Black Friday sales decreased by 37% last year. In the Philippines, the Black Friday peak was in 2019, and the decline in interest is already noticeable in 2020.
47% of the survey respondents confirmed their participation in Black Friday in 2020. Others didn’t shop on Black Friday for various reasons: 24% didn’t need anything, 8% complained about unexciting discounts, and 5% — about the lack of interesting products on sale.
The pandemic also contributed to the decrease of interest in sales: some buyers preferred to avoid crowds (10%) or had a precarious financial situation (16%). Moreover, 37% of respondents forgot about Black Friday.
What buyers (don't) like Black Friday for
The results of the survey indicate that among Filipinos there is a more positive than negative attitude towards Black Friday sales. Most Filipinos agreed that Black Friday offers the opportunity to make purchases on very favourable terms. 61% say that Black Friday is the best shopping holiday, and 23% say that Black Friday is an opportunity to buy expensive things much cheaper.
On the other hand, 6% of respondents see fraudulent manipulation of product prices, when the price of an item is raised before the sale and then ‘lowered’. 6% believe that products discounted on Black Friday are uninteresting or slow-moving, and 11% indicated that the discounts on Black Friday do not stand out from other sales.
Black Friday 2021: what will we buy, how much will we spend
42% of the survey respondents declared their willingness to participate in this year's Black Friday. 3% rejected the opportunity to participate in the sales, and 55% are still undecided.
Among the factors that would encourage shopping on Black Friday, the possibility of getting a discount on a desired product is most frequently chosen (34%). Better discounts would convince 33% of respondents, and additional cashback, i.e. a return of part of the amount spent, would encourage 23%. However, 10% of people would not be convinced by anything.
We asked decided shoppers which products they are most interested in purchasing on Black Friday. Clothing and footwear (32%) came first, cosmetics and perfume came second (30%), and jewellery (22%) came third. The average customer is prepared to spend ₱5,961 on Black Friday purchases, compared to ₱4,003 in 2020.
The report uses archived data from the Google Trends platform and online surveys conducted on October 15–31 2021 and August 28–September 13, 2020.
Would you like to share information about Black Friday in the Philippines with your recipients? You can freely use the infographics presented in the report and distribute the results and conclusions of the report for both commercial and non-commercial purposes, indicating the author of this study (Picodi.com) with a link to this subpage. For more information or higher resolution infographics, please contact: email@example.com