BrazilBlack Friday spending, discounts and budgets in 4 charts
In the run-up to Black Friday – one of the world’s largest shopping feasts – global management consultancy Simon-Kucher & Partners has released the 2021 edition of its annual ‘Global Black Friday Forecast’. A round-up of the report’s key forecasts for spending, discounts and budgets in four charts.
While consumers in all countries surveyed are well aware of Black Friday, the intention to actually buy something during the feast differs significantly per country. Across most countries surveyed the willingness to buy is over 50%, with consumers in China, Turkey and Brazil demonstrating the highest eagerness to splash money on new products.
In Europe, most consumers expect to benefit from discounts, with the majority expecting a discount of between 26% to 40% on the goods they purchase.
Asked which channel they prefer to use for their Black Friday purchases, the larger share of consumers pointed at the online channel, citing convenience and Covid-19-induced health safety concerns as key reasons. In some countries however, such as Norway, the United Arab Emirates and Columbia, the offline channel is preferred.
How much are consumers expecting to spend on Black Friday (or during Black Friday as many retailers turn the day into a multi-day discount feast)? In most countries surveyed, the budgets increased compared to last year, with people in China, Saudi Arabia and the United Arab Emirates forecasted to be the biggest spenders. On average, a consumer is this year expected to spend €236.
For its 2021 ‘Global Black Friday Forecast’, Simon-Kucher & Partners surveyed more than 11,000 people across 17 countries: Belgium, Brazil, China, Columbia, Denmark, Germany, Italy, Mexico, Netherlands, Norway, Saudi Arabia, Spain, Sweden, Turkey, the UAE, the UK and the US.
