Black Friday, known previously only in the States, has gained a truly worldwide popularity within just a few years. Black Friday is a unique day, during which stores around the world lower the prices of their products to a big extent. In the Philippines – 73% of respondents know what Black Friday is. Black-Friday.Global Analysis Team has been closely following this trend for the past several years.
Black Friday is now a phenomenon for a reason. Google’s data suggests that in the last 5 years the interest of Internet users in this event has more than doubled. Every year, in almost every country, the shopping fever results in new sales records.
Over the past 5 years, the popularity of this shopping event has increased by 64%. The survey suggests that over half of Filipinos will participate in Black Friday this year (over a double increase compared to 2017). A little over half of consumers will shop both online and offline (56%), 40% will only shop online and the rest will opt for traditional offline-only option (4%). For comparison, in 2017 the percentage of users choosing brick and mortar stores only was almost four times higher (15% vs 4%).
Average Filipino bargain hunter is willing to pay PHP 2800 ($59) in total for his/her Black Friday shopping cart. That is $18 more than Malaysian consumers, and $21 less than Indonesians.
Every year, the world press feeds us with dozens of photos of crowds besieging electronics stores. Surprisingly though, the results of our survey state that clothes, not electronics, are the actual apple of bargain hunters’ eye. Consumer electronics category came second in our ranking. On the other side of the scale books, sports accessories and underwear were the least popular items to buy.
Black Friday is well known for its discounts reaching as high as 80-90%. As the average discount in the Philippines online stores reached 61% last year, when forecasting Filipinos’ Black Friday 2018 expenses, it could translate into PHP 4386 of possible average saving.
Black Friday Figures in the Philippines:
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73% of Filipinos know what Black Friday is;
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Almost 55% of Filipinos will participate in Black Friday this year (double increase compared to 2017);
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Average Filipino will spend PHP 2800 on Black Friday;
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40% of consumers will shop online only;
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Traditional offline-only option will be chosen by 4% of consumers (last year—15%);
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The average discount in Filipino online stores reached 61% last year;
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It could translate into PHP 4286 of possible average savings;
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Clothes, electronics and shoes are the most popular items to buy;
- This year the Black Friday is November 23.
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