COVID-era Black Friday

  • How did the current pandemic emergency affect 2020 Black Friday purchases?

COVID-era Black Friday

Black Friday is a notably appreciated event linked to the concept of convenience and the possibility of buying products at discounted and highly competitive prices.

According to GrowthFromKnowledge findings, the current pandemic, periodic lockdowns and opening hours restrictions for physical stores, have inevitably changed the attitudes and purchase channels for the 2020 Black Week.

On the one hand, the period of general crisis and anti-covid regulations inevitably reduced in-store purchases.
On the other hand, the covid emergency has favored online channels which during the Black Friday week amounted to 34.4% of all Tech products sales.
Many users have become familiar with online shopping and they now consider it a faster and safer way to enjoy purchases. This year, in fact, a greater interest in this shopping day is registered among the Baby Boomers.
As a consequence, the average receipt for Black Friday purchases rises slightly from € 195 last year to € 210 with significant differences between the different categories of consumers.

Compared to last year, however, Italian consumers seem more selective and quality-conscious, thus abandoning impulsive purchases usually typical of this annual event.

As for the most interested categories, Black Friday has proved crucial over the years for the consumer technology market.

The products that showed the most important growth during the Black Week compared to the previous week were in fact Razors (+ 127%), Oral Hygiene devices (+ 118%) and Core Wearables (+ 98%). All electronic devices for personal care. This is a trend that has already emerged in the previous months and is due to the increasing time spent at home.
Studying and working from home have also caused sales of IT products to surge with numerous purchases of office equipment.
Compared to last year, the Black Week recorded a slightly negative result (-2.9%) in the Italian consumer technology market.
But because of early promotions, the weeks immediately preceding set record growth: the week from 16 to 22 November grew by + 33.3% on an annual basis, the week from 9 to 15 November grew by +28, 5% and the previous one - from 2 to 8 November - registered a + 30.6% increase.

The tendency to "spread" offers and promotions throughout the month of November (and not concentrate them only in the week of Black Friday) has prevailed in the rest of Europe as well. A proper analysis of the 2020 Black Friday phenomenon will therefore have to take into account the trend of purchases for the entire month.

Moreover, according to GfK forecasts, the growth of technological products will continue in December as well because of Christmas purchases, especially in sectors connected to smart working and distance learning.

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Categoria: eCommerce Internet

News Details

19/02/2021 E-Business Consulting