Romanians Tighten Black Friday Budgets Amid 2023 Crisis

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The percentage of Romanians intending to take advantage of Black Friday discounts this year has decreased by 5 points compared to 2022, dropping from 62% to 57%, according to the most recent MKOR study on Black Friday shopping.

Plans for November discounts have been made, especially by individuals under 40, women, those with medium incomes, parents with young children, and those without children.

Those determined to go shopping on Black Friday create their lists 2-3 weeks before November 1. Gen Z and childless individuals tend to be more spontaneous, with 2 out of 10 preferring to decide on the spot what to buy.

Given the uncertain economic climate, the majority of Romanians intending to benefit from Black Friday discounts have already established a tentative budget. Only 1 in 5 Romanians shop without a pre-established financial plan, as opposed to 4 in 5 in 2022. The amounts are mainly allocated based on available financial resources and the prices of the items on the shopping list.

This year, electronics and appliances are still at the top of preferences, although interest has decreased by 7 percentage points compared to 2022. A similar percentage decrease is seen in the appetite for IT&C products, going from 34% in 2022 to 27% this year. Men are more interested in this product category (32%).

On the other hand, fashion items (clothing, footwear, accessories, etc.) are gaining ground, with a 14% increased interest from shoppers. Gen Z (64%) and women (58%) show even greater interest.

Purchasing desired products or services at better prices remains the primary reason why 6 out of 10 Romanians shop on Black Friday. Additionally, the occasion is preferred by those who hunt for deals in general (36%). The November discounts also provide a good opportunity to buy Christmas gifts or various other celebrations.

Online shopping remains the preferred method for Black Friday, although 1 in 4 Romanians will opt for a mix of physical and online stores.

The online environment is also preferred when it comes to searching for information about available Black Friday deals. The mobile app of the store and social media platforms are the most accessed sources, with variations based on age. TV ads serve as a source of inspiration for a third of those with Black Friday plans.

“We conducted this study on Romanians’ Black Friday plans because we wanted to see how preferences have evolved compared to last year. The results show that, although interest in Black Friday shopping remains relatively high, Romanians are adopting a more cautious approach in 2023, managing their allocated budget better. All of this against a backdrop of general pessimism regarding the current economic situation,” mentions Corina Cimpoca, the founder of MKOR.

The data is extracted from the Black Friday Shopping study conducted by MKOR, which has been ongoing since 2022. Sample: nationally representative by gender, age, and geographic distribution, N 2023=1000, N 2022=530, target: general population, 18-55 years old, research method: survey (CAWI), research tool: questionnaire, approach: online, through MKOR’s own panel, period: November 2022, November 2023.

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1 Comment
  1. Panagiotis Spyridis says

    This Z gen needs to wake up and stop falling into traps.

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