Black Friday in Hungary: even Covid-19 can’t get in the way
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As the 2020 holiday season fast approaches, so does the excitement surrounding Black Friday sales. While last year only one in every three people bought something off the shelves around Black Friday, this year – despite the uncertain economic conditions caused by COVID – half of the population plans on doing so. These shoppers are especially happy that they won’t miss out on discounts given these promotions last more than one day – determined LogiNet, ecommerce specialist software company, and Reacty Digital in their joint survey of 18 to 79 year-olds.
Online or in-store, as long as there’s a discount
There is practically no one in Hungary who hasn’t heard of Black Friday; however, while last year 66% of the population wasn’t interested in the sales and didn’t go shopping, this year the rate of those uninterested dropped to 49%. More than half of the survey participants plan to take advantage of Black Friday discounts either online or in-store. You’d assume that given the dangers posed by the coronavirus, those planning to shop would do so online – however, this may not be the case. Last year, 6% of participants decided on the in-store shopping experience – but this year that number may grow to 8% of shoppers who will wear masks and physically go off to stores.
The popularity of Black Friday persists online as well, even in the shadow of the coronavirus: one out of five of those surveyed will shop online while one out of four will shop both online and offline in the hunt for discounts in 2020.
A significant dividing factor between the two groups of shoppers – online and offline – is their tolerance of crowds. From the participants who prefer online, 62% are distinctly bothered by crowds; only half of in-store shoppers feel this way, as was determined by LogiNet and Reacty Digital’s study.
Wellness wrapped under the tree this year
It seems that, despite COVID, we will be spending quite freely in the heat of Black Friday shopping: altogether, shoppers plan to spend only HUF 2000 less than the previous two year’s averages. Discount-hunters count on spending around HUF 40000 this year, even in the face of these uncertain economic conditions.
The popularity of fashion items hasn’t changed (36%) but at the same time, the categories of toys (27%), consumer electronics (26%), mobile phones (25%), interior design (24%), home appliances (23%), and hotel reservations (22%) will also prevalently find their way into shopping carts. Not surprisingly, products related to health and wellness have grown the most in popularity: compared to 2018, 9% more, or, 23% overall of those surveyed stated they would purchase a wellness-related present this holiday season. This is probably strongly connected to the coronavirus pandemic and the consequently increasing health-conscious decisions.
Black Friday is a massive con trick, especially from web sites like Amazon but also here in Hungary. The same goods have been sold at the same or less relatively shortly before Black Friday. Some retailer put the price up a couple of weeks earlier and then put the price ‘down’ for BF. These are big names doing this, companies with shops in all the big shopping centres in Budapest (and beyond). My advice? Wait until AFTER BF and AFTER Christmas. That’s when you get a real discount.