Black Friday/Cyber Monday: definitely an international thing now
Black Friday is an increasingly sought-after sales event, as is Cyber Monday, according to new market research. It was conducted by the firm Periscope® By McKinsey, and was based on survey responses by participants in four countries: the US, the UK, Canada and Germany.
The research shows that consumer electronics is the second most popular categories in Black Friday sales items, beaten only by clothing. It also found that 54% of UK respondents had taken part in the event in 2017, compared to 19% two years previously. The same figures had also grown by 34% in Germany and by 22.5% in Canada. 81% of the Canadian respondents reported that they also planned to do so this year.
US shoppers remain those that may end up spending the most on Black Friday: 16% of the respondents from this country reported planning to spend US$1000 or more. 14% of the Canadians reported planning to spend about the same. 14% of the German group planned to spend €300 (about US$347), whereas 37% of the UK group planned to spend between US$264 and US$396.
Most respondents reported being rather indiscriminate in selecting the shops or deals they targeted on the day. 54% of all respondents indicated that their primary motivation in shopping on Black Friday was to snag items at extreme discounts, with unique deals and promotions coming second to this reason. Holiday gift shopping came third as a reason to shop on Black Friday.
Black Friday takes place on November 23 this year, with Cyber Monday falling three days later. Will you follow these trends on those dates?