According to the data provided by MKOR Consulting through the Black Friday Shopping in 2022 study, 6 out of 10 Romanians intend to buy at least one product or service on this occasion.
Fashion items are first on the list of Generation Z (48%), while electronics and household appliances are sought after by the rest of the age segments. IT&C products are mainly targeted at high income earners.
More than half of consumers have made plans for the November sales. Young people (Generation Z and Millennials, 71%), people with high incomes (>5000 lei) and parents (68%) show a more pronounced interest in Black Friday offers.
The data confirm the high appetite of Romanians for promotions in general, behavior adopted more and more in the current economic context. Thus, in the last 6 months, 78% of them declare that they looked more for products on offer, being a solution preferred mainly by Millenials, those with low incomes and parents (83%).
The main reasons why Romanians intend to buy on Black Friday 2022 are the purchase of products or services that they have been looking for for a long time, at better prices, the fact that they have created a habit of buying products or services at discounts on Black Friday and the fact that it is a good opportunity to buy Christmas presents.
Even though the majority of Romanians are worried about inflation (79%) and the high cost of living (64%), they plan to take advantage of the Black Friday discount period to purchase the products they want.
For Romanians with low incomes, Black Friday is a good opportunity to purchase products that they otherwise cannot afford. And 1 out of 3 Romanians who intend to buy at a discount on Black Friday do so because they usually buy on sale, not just on this occasion. Most buyers (80%) do not have a fixed budget, but will allocate the amounts spent based on what offers they find.
Those who already know how much they want to spend on Black Friday this year oriented themselves according to the financial resources available (7 out of 10), but also according to external factors such as the price of the products they want to buy (52%) or the current economic context (25%). Regarding the factors they will take into account when making purchases, 7 out of 10 Romanians answered that they will consider the financial resources they have. Half of consumers will consider the price of the products or services they intend to purchase, and 25% the current economic context.
The preference for ecommerce is also maintained in the case of Black Friday shopping. However, almost half of consumers indicated their intention to also shop in physical stores in the country during this period. Online is also preferred when it comes to searching for information on available Black Friday deals.
“Black Friday 2022 takes place in a particular economic context, which we have never encountered before. Following the trends regarding consumer behavior in Romania, we set out to identify the particularities of the biggest discount event of the year. So, we analyzed consumer behavior over the past 6 months and identified what their main concerns are in the coming period, as well as how they impact Black Friday 2022 shopping,” says Corina Cimpoca, founder of MKOR Consulting.