Black Friday in the Eyes of Singaporeans
Every year, thousands of sale lovers look forward to the end of November. This is when Black Friday, the biggest shopping craze of the year, takes place. Retailers have been preparing for months to finally, on 29th November, unveil the best promotions and discounts for their clients.
Originally, Black Friday used to be known only in the United States. However, in the last few years, the event has spread to other continents, including our country. Singaporeans have welcomed with opened arms the opportunity to participate in huge sales and make great savings.
In which part of Singapore is Black Friday the most popular? What are the differences in attitudes toward sales among men and women? How much money are Singaporeans willing to spend and on which products? Where and when do Singaporean consumers shop? Picodi.com analysts look closer into the Black Friday phenomenon and answer these questions.
The King of All Sales
Black Friday is not the only shopping holiday in November. In many countries, Singles’ Day is celebrated on 11 November. Named after the multiple “one” numbers in the date, representing people who are single, Singles’ Day originated in China. The high discounts offered on that day attract huge crowds, especially in Asia.
The survey conducted by Picodi.com shows that Black Friday is widely celebrated in Singapore. Among respondents who took part in one of November shopping holidays, 31% participated in Black Friday sales. 47% took advantage of both Black Friday and Singles’ Day. 22% answered that they took part in Singles’ Day only.
Male vs. Female Shoppers
Black Friday sales are popular among both male and female citizens of Singapore. As much as 63% of female respondents are going to take part in Black Friday – it is 12% more than male shoppers.
Women purchase more products: 5.5 in comparison with 4.5 bought by men. Men spend more money than women on Black Friday. An average woman is willing to spend around S$161, while an average man around S$172. Both male and female shoppers chose clothing and shoes as their top purchases. What’s more, women spend 31% more time on shopping compared to men.
Black Friday is all about the promotions. In this case as well, men and women have separate preferences. The surveyed women choose a higher discount on selected products as their favourite type of promotion. The second place takes a discount coupon or code, and a lower discount on an entire range of products is in the third place.
On the other hand, men’s favourite promotion is a lower discount on an entire range of products. It is followed by a higher discount on selected products and then a discount coupon.
No Time to Lose
The popularity of online shopping is rising year after year, especially because of events such as Black Friday or Singles’ Day. 44% of the surveyed Singaporeans are going to shop online on Black Friday. Almost half of the respondents (49%) decided to shop in both online and offline stores. Only 7% of Singaporeans are going to shop exclusively in brick-and-mortar stores.
One of the reasons against shopping in malls is having to wait in lines. Although in Singapore the situation is not as extreme, in some countries, special tutorials are created on how to endure the never-ending queuing on Black Friday.
Nevertheless, not everyone is willing to waste their time standing in line. Among Singaporean respondents, as much as 25% of women and 39% of men declare that they would rather give up on purchasing a product than wait in line.
Those who decide to place orders online do not have to worry about queues and can shop around-the-clock. On the Singaporean Internet, peaks of shopping activity fall at midnight and 11 AM. Consumers make purchases at home, during the commute, or even at work — 62% of surveyed Singaporeans admitted that they buy while working.