On Black Friday Global you'll find all the information about Black Friday in Singapore 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 (Singapore) provided by Picodi - the best and biggest discounts provider on earth!
This event, previously known only in the States, has gained a truly worldwide popularity within just a few years. In Singapore, 82% 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, domestic and local economies, and average consumers.
How is the interest in shopping and discounts growing among Singaporeans in November? Which categories of goods are most in-demand? How much money do Singaporeans spend during the Black Friday craze and how do their shoppig habits differ from other nations? We’ve analyzed Black Friday statistics and conducted surveys in 55 countries to answer the 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 the 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 consistently. The survey suggests that almost half of Singaporeans will participate in Black Friday this year (an increase of 5 percentage points when compared to 2017). The majority of consumers will shop both online and offline (63%), one-third claim that they will shop only on the Internet (33%) and the rest will opt for the traditional offline-only option (4%). For comparison, in 2017 the percentage of users choosing only brick and mortar stores was almost twice as high (decreasing from 7% to 4%).
Such a great recognition of the shopping holiday results in surges in sales year-to year. In each of the 55 analysed countries the number of online transactions made on Black Friday increased significantly when compared to a regular day. Take Greece, for example, with 2600% more purchases than usual or South Africa with a 2571% increase in their transaction numbers. However, in no other country the interest in Black Friday is as big as in Pakistan where users activity was higher by enormous 11,525%.
Unsurprisingly, November is usually when most profits are generated. According to certain estimates, around 20% of annual turnover is made in November. What’s more, on the basis of Picodi's internal data, it can be estimated that almost every third transaction in countries such as the UK, Greece or RSA is made in November..
The results of the survey show that those who are willing to spend the most money during Blak Friday are users from North America and Europe. Conversely, customers from Asian countires, such as Pakistan, Malaysia, Philippines are planning to spend relatively small amounts of money during that time.
An average bargain hunter from Singapore is willing to pay S$225 for what's inside their Black Friday shopping cart. That is S$170 more than a Malaysian consumer but S$40 less than an Australian one.
Every year, the world press feeds us with dozens of photos of crowds besieging electronics stores. Surprisingly, our survey shows that clothes, not electronics, are the apple of a bargain hunter’s eye and the aforementioned consumer electronics category comes only second in our ranking. On the other side of the scale are books, sports accessories, and underwear which seem to be the least desirable items to buy, even during Black Friday.
Black Friday is well-known for discounts reaching as high as 80 or 90%. Even though the number of items available for just a dollar or at a 90% discount is highly limited, those participating in Black Friday can count on genuine deals when doing their shopping. 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 offered in Russia (58% average markdown), Brazil (57%) and Turkey (56%). The world’s average markdown is set around 55% off.
In Singapore it was 53%. When forecasting Singaporeans’ Black Friday 2018 expenses, the numbers mentioned above might translate into S$254 of possible savings.
This report was created basing on data provided by Picodi.com, a global discounts provider existing since 2010 and Black-Friday.Global, a website dedicated to Black Friday deals that 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 lower the prices of their products to a big extent.
This year the Black Friday is November 23.
Sure! Even though Black Friday is not the only opportunity to save a lot of money, such a great discounts are available only during the last Friday of November!
For sure buying online is much safer than shopping in crowded malls. Black-Friday.Global is a safe place where only real offers from verified shops are presented.
On average during Black Friday users enjoy 55% markdown. A true bargain hunters might even have the opportunity to grab some products for a single dollar!