Women are reducing their Black Friday spending this year (47% of responses compared to 48% of men). Even young people are no longer willing to spend so much this year and say they will shop much more responsibly. The surprise comes from the 65+ age group, which says it will spend the same amounts as last year, according to a Revolut study.
According to the study carried out in October 2024, most Romanians feel the effects of the galloping inflation of the last 12 months and four out of ten buyers announce that they will spend less because they do not have enough money left after paying the bills.
At the same time, two out of ten Romanians say they will spend at least the same as last year, with a higher percentage among the 65+ age group (23%) and among men (21% vs. 14% in the case of women ).
Women are more affected by inflation than men, according to the same Revolut study, with 47% of responses (vs 40% for men) indicating a reduction in the amounts spent on the occasion of this event. Young people are also less willing to spend large amounts (GenZ – 48% of responses, the highest percentage of all age groups).
Almost a third of Romanian respondents stated, however, that although their purchasing power has not changed, they will be more selective and responsible with their purchases on Black Friday 2024 (34% of total respondents). In this case, the differences between the two sexes are not radical (35% women vs. 33% men), but among all ages, those in the 25-34 age group turn out to be the most responsible with their own pocket (43%).
However, one in ten Romanians says they don’t shop on Black Friday, and women (13%) seem less interested in this event than men (9%).
Reasons Romanians Shop on Black Friday:
- 46% for discounts and promotions on products they usually don’t buy because they are too expensive
- 45% to take advantage of discounts and promotions on products they regularly buy throughout the year
- 33% to prepare Christmas gifts
- 25% to treat themselves to small pleasures
- 14% for household essentials (detergents, cosmetics).
Most Romanians believe that Black Friday is still a good opportunity to make purchases. More specifically, 86% of respondents strongly agree that Black Friday is a good shopping opportunity, compared to 11% who strongly agree that it’s not a great deal. Four out of ten Romanians think they can find good deals on Black Friday. Two out of ten consumers believe that, as long as you are a smart shopper and know how to compare offers and find the best discounts, Black Friday does not lose its appeal. There are also Romanians who are even willing to borrow or take out loans to get their hands on the best offers (8%) and just as many would save for the same purpose.
Romanians’ preferences regarding ways to shop on Black Friday:
30% go to stores because they can pick up the products immediately, without waiting for delivery Generation Z (39%) are by far the followers of this style of shopping on Black Friday.
15% go to stores because they don’t have to worry about returns, wrong size, etc.
8% prefer stores because that way they avoid online scams 6% say that this is how they support small businesses and make them traffic in entrepreneurs’ stores.
The Revolut study on consumer behavior on Black Friday was implemented by the research company Dynata in October 2024 and was carried out on a sample of 21,000 consumers from 21 markets, of which 1,000 were Romanians (representative sample for the population aged over 18, from the urban environment).