On Black Friday Global you'll find all the information about Black Friday in Nigeria and around the world. We've examined this event in various markets so that you don't miss anything. What's more, you'll find the best discounts in your country (Nigeria) provided by Picodi - the best and biggest discounts provider on earth!
This event, known previously only in the States, has gained a truly worldwide popularity within just a few years. In Nigeria – 80% of respondents know what Black Friday is.
Black-Friday.Global Analysis Team has been closely following this trend for the past several years. We know exactly how relevant this event is for retailers, the domestic and local economy, as well as for average consumers.
How is the interest in shopping and discounts growing among Nigerians in November? Which categories of goods are characterised by the highest demand? How much money do Nigerians spend during Black Friday shopping craze and how are they different from the other nations? We’ve analyzed Black Friday statistics and conducted surveys in 55 countries to answer the above questions. Here are the results of our analysis.
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. Only in Western Hemisphere countries, where trends from the US appear faster, a moderate increase in Black Friday discounts is noted.
Over the past 5 years, the popularity of this shopping event has been growing. The survey suggests that 23% of Nigerians will participate in Black Friday this year (an increase of almost 4 percentage points compared to 2017). The vast majority of consumers will shop online only (66%), the rest will either opt for traditional offline-only (10,5%) or multi-channel option (23,5%). For comparison, in 2017 the percentage of users choosing brick and mortar stores only was higher by almost a third (from 10,5% to 15%).
Such a great Black Friday recognition results in sales numbers’ surges each year. In each of the 55 analysed countries, the number of online transactions on Black Friday increased significantly when compared to the regular day. Take Greece for example, where users have made 2600% more purchases than usual or South Africa with 2571% growth in transaction number. However, in no other country, the Black Friday interest was as big as in Pakistan, where users activity was higher by enormous 11,525%.
Unsurprisingly so November is usually the month where most profits are generated. According to certain estimates, around 20% of annual turnover is being made in November. What’s more, our internal data allows us to reevaluate that in certain markets – e.g. the UK, Greece, RSA – where even every third transaction is taking place in November.
The results of the survey show that users in North America and Europe are willing to spend the most during Black Friday. On the contrary, Asian customers – i.e. in Pakistan, Malaysia, Philippines – are planning to spend relatively small amounts of money.
Average Nigerian bargain hunter is willing to pay ₦17,333 ($56) in total for his/her Black Friday shopping cart. That is over $118 less than Kenyan consumers, and $68 less than South Africans.
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%. Even though the number of items available for a single dollar or with 90% discount is highly limited, those participating in Black Friday can count on legitimate bargains. According to our Black Friday 2017 data, the biggest discounts were available for Americans (68% average markdown), Canadians (66%) and Ukrainians (66%). A little less impressive rebates were found in Russia (58% average markdown), Brazil (57%) and Turkey (56%). World’s average sets around 55% off.
As the average discount in Nigerian online stores reached 55% last year, when forecasting Nigerians’ Black Friday 2018 expenses, it could translate into ₦21,185 of possible average savings.
This report was created based on data provided by Picodi.com – a global discounts provider existing since 2010. Black-Friday.Global – dedicated to Black Friday deals – was created by Picodi.com. 12,000 participants from 55 countries took part in the survey.
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Black Friday is a unique day, during which stores around the world offer highly discounted prices and offers in a wide range of their product assortment.
This year the Black Friday will be on November 23rd.
Absolutely! Even though Black Friday is not the only opportunity to save a lot of money while shopping, you will find that the last Friday of November offers the highest discounts you can get!
Definitely, buying online is much safer than shopping in crowded malls. Black-Friday.Global is a safe website where only real offers from verified online shops are presented.
On average during Black Friday users enjoy a 55% markdown. A true bargain hunter might even have the opportunity to grab some products starting from as low as ₦100!