This year, these special discount days are even more special because corona’s shopping streets must remain as empty as possible. Could 2020 be the year for Cyber Monday? Or is Black Friday going to be a Cyber Monday copy this year? And what about Singles Day?
Market effect examines the popularity of the special discount days in November
Black Friday: pick up in the store or order via laptop?
The spread of Black Friday from the US is successful: where 80% of the Dutch were familiar with this day last year, this is 87% this year. Cyber Monday (43%) and Singles Day (23%) are also becoming more and more known among Dutch consumers.
A quarter of consumers indicate that they will only make online purchases on Black Friday
Only 12% said they only hunt for bargains in physical stores. We do not literally take Black Friday from the Americans, but implement it in our own way: no busy shopping streets, but mainly online bargain hunting.
20% of consumers postpone purchases until Black Friday
The vast majority of consumers who are familiar with Black Friday indicate that they have not yet taken any action to know which products they want to buy that day (86%). One in five of these consumers said they would wait until Black Friday with their purchase. The research has shown that people are less concerned with Black Friday. This year, 44% indicate that they are already thinking about Black Friday purchases. In 2019 this was still 51%, a significant decrease.
Impact of COVID-19 on Black Friday purchasing behavior
The product category most in demand among consumers is computers and electronics (24%). Here we see clear effects of the corona crisis on consumer purchasing behavior. Last year, the fashion, shoes and jewelery product category was the most popular (36%), now only 23% of consumers say they will buy fashion, shoes or jewelery. We also see this decline on Cyber Monday. Where last year one in four indicated that they would buy fashion, shoes or jewelery, this is now less than one in five (17%).
Chinese Singles Day is less well known among Dutch consumers than the American marketing stunts. Only one in four Dutch people (24%) actually knows what Singles Day means. This day is also less alive among people who know about the existence of this day. 90% of this group has not taken any action for this day.
Compared to last year, Singles Day is a lot less popular among consumers. Where last year 16% indicated that they would definitely postpone an expenditure until this day, this is only 8% of the cases this year. It is striking that fashion, shoes and jewelry are just as popular on this day as last year, in contrast to Black Friday and Cyber Monday. 15% indicate that they are going to buy something from this product category. Another interesting finding is that Singles Day is being promoted as a day to treat yourself. Yet only 44% of the Dutch indicate that they are going to make a purchase for themselves. This percentage is higher for Black Friday (54%) and Cyber Monday (53%).