After Singles’ Day, the annual Black Friday shopping frenzy is back.
A decades-old tradition celebrated every year the day after Thanksgiving, Black Friday marks the unofficial start of the Christmas shopping season in America.
Together with its more recent online counterpart Cyber Monday, the sales have become a major global event over the past few years as online shopping has brought the bargains to the rest of the world.
So what is exactly Black Friday like in emerging developing countries like the Philippines? What are Filipinos consumers’ expectations?
Large discounts expected
Customers will not waste the opportunity to save money on shopping.
55% of Filipinos admitted that they’re going to take part in the upcoming Black Friday sales and 91% of shoppers save money prior to Black Friday just to shop on this day.
Let’s remember that Black Friday sales are usually associated with electronics and housewares which are the best-selling products.
The remaining 9% declared that they are going to buy on installments.
38% of consumers are planning to buy 2-3 products, and 36% are going to go on a shopping spree and buy more than 5 items.
What’s more, 59% of buyers already have an idea what’s going to end up in their baskets. This can be due to the infinite number of guides to what is worth buying and how to find the biggest discounts.
Black Friday symbolically opens the season of pre-Christmas sales. That is why it is a great opportunity for those who start searching for gifts in advance.
38% of consumers will take advantage of Black Friday exactly for this purpose—to buy Christmas gifts.
However, in the Philippines Black Friday is also an occasion to get a present for yourself as it is the intention of 67% of consumers.
What does an average shopper looks like?
Spending differences vary by sex. Indeed, an average man will spend more money on sales than an average woman: 3906 PHP and 2724 PHP respectively.
When it comes to age the biggest interest for Black Friday discounts was among people aged 55-64 and 45-54.
Statistics also say that mobile devices dominated desktops with 68% of consumers shopping on their mobile phones and 29% on desktops.