Black Friday: the behavior of Italians in this 2021
Black Friday and Cyber Monday, the commercial recurrences that correspond to the last Friday of November and the following Monday, are also two highly anticipated events in Italy for shopping in search of bargains.
A recent study conducted by Simon-Kucher & Partners, a global consultancy firm specializing in strategy and marketing, investigated the purchase intention of Italians during Black Friday and Cyber Monday in this 2021 characterized by a slow but constant return to normal, after pandemic and lockdowns led to social uncertainty and economic slowdown.
Appointments no longer just “stars and stripes”: all the interviewees, knows Black Friday (+ 1% vs 2020, referred to as “promotional sales day in which discounts are offered”), and the notoriety of Cyber Monday is also high, at 75%.
Yes, but what about the purchases? More than 7 out of 10 Italians they declared their intention to buy something during these days and 54% (58% in 2020) who will make purchases in both moments. The purchase inclusion is down compared to the previous year (72% vs 78% in 2020) in line with higher consumption and numerous promotional events that preceded these two days.
Once again electronics (64%), small appliances (50%) And clothing (41%) confirmed themselves on the podium of the most desired categories, followed by life-style accessories (36%), books (32%) and beauty products (32%).
COVID19 impact – some trends from 2020 are confirmed: overall, the pandemic does not negatively affect purchase intentions, however it leads to an assessment of these events with a view to saving: those who declare that they have been impacted by COVID19 are more interested in shopping (77% vs 65% of those least impacted by COVID19), in particular online and in your neighborhoodconfirming the pandemic trends.
Rationality also remains, planning of the shopping cart e limitation of impulse purchases for the86% of Italians in view of Black Friday and Cyber Monday. Of these, however, 63% are informed only in the previous two weeks.
Italians return to spending at pre-pandemic levels: € 213 is the average expected expenditure. Rationality and planning, but not fear: the average expected expenditure has grown by + 13% compared to 2020 (188 €), and is even higher than the pre-pandemic of the 2019 (€ 208). The trend is confirmed that sees men plan spending on average higher (€ 246) than women (€ 184).
It is confirmed even this year the discount paradox: If low it does not work and if too high it does not generate additional sales appeal. For Italians, the optimal point is between 30% and 40%.
Black Friday and Cyber Monday they really are the cheapest days of the year to go shopping? 40% of Italians designate Black Friday as the one with the best deals, followed by the end-of-season sales 16% and the pre-Christmas ones (11%).
“Despite a gradual return to pre-pandemic consumption and propensity to spend, COVID19 has indelibly impacted the purchasing behavior of consumers: Omnichannel, sustainability and greater proximity purchases are some examples of factors that will continue to be key in purchasing choices ” comments Francesco Fiorese, Partner of the Milan office of Simon-Kucher & Partners, “For this reason the price and the discount are not the only levers to bet on, the shopping experience or the promotional assortment will make the difference.”