4 days left until the official start of the season black friday. ‘Black Friday’ is celebrated on Friday, November 24th. discounts that many businesses have already started to promote He said they even extended the period during the week or part of November to increase year-end sales and bills. And everything seems to point to that this year it will be better than the past.
According to a survey conducted by financial comparator Banqmi, 68.90% of Spaniards plan to buy during Black FridayWith an increase of 7.5 points since last year, this rate even exceeded the levels in 2021, the year in which the highest figure was recorded to date: 66.9%. This year’s increase in this percentage was partly due to: 10.5% of those who said they would buy this year did not do so last year and conversely, only 5.4% of those buying in 2022 say they won’t buy this year.
In addition, the budget that each Spaniard will spend on shopping next Black Friday also increases by 6.26 percent, from the 123.5 euros they plan to spend in 2022 to the current 131.23 euros per person, a similar figure to that recorded. in the same survey in 2021, but still lower than those recorded in pre-pandemic years: In 2019 the Spanish budget per capita was 138.50 euros and in 2018up to 139.09 euros last year for which figures are available.
“Although the current economic situation across the eurozone is not ideal, Consumer optimism continuesat least in the short term. Of course, the fact that everything is more expensive means that consumers search for offers more intensively, especially on important dates such as Black Friday or Sale,” explains Antonio Gallardo, financial expert at comparison firm Banqmi.
How do Spaniards pay for their shopping?
“There is an imbalance between inflation and wages, and this is clearly seen in the methods that consumers use to finance their purchases,” analyzes the Banqmi financial expert. So much so that among the survey results, the option of financing purchases with a credit card during the Black Friday period stands out with 28% of the votes, which increases from 23.40% to 4.6 points in just four years. It was registered in 2020. Of course, last year’s increase was minimal: 0.5 points compared to 27.50% in 2022.
But the most worrying thing is the use they put to it. credit card: More than half (51.60%) of those who will finance their purchases with it get money back by paying a flat fee every monthThis, according to Antonio Gallardo, “is a method in which you lose all control over spending and, moreover, you can multiply the installments if you choose very low installments.” The Banqmi spokesperson also says that if credit card financing is used to pay for purchases, it is best to “delay the payment for just a few days without interest and with debt control”, an option the bank has chosen. those who use this method. The remaining 16.4% prefer to spread the payment over a certain number of months.
Despite all this, the preference of the majority of consumers is to pay for their shopping with their monthly income; this figure has increased by two points in four years, but only by 0.3 points compared to last year: with 54.70% of the votes, reaching 54.50%. AND Only 10.40% guarantee to use their savingsThis rate has been decreasing every year and has fallen by more than five percentage points since 2020.
What products do they buy most?
Like every year, the fashion and accessories top the product list He says that Spaniards guarantee that they will buy these products during Black Friday, but this year the intention to buy these products has increased even more: 73.10% of respondents to Banqmi’s survey guaranteed that they will buy these products, compared to 69.50% last year . However, the percentage of those who allocate part of their budget to purchase computers and electronic products rises up to 7.2 points: 49.30% of those surveyed prefer this.
Antonio Gallardo explains that these increases are linked to the following phenomenon: The most advertisers are fashion and electronics stores, with very attractive offers. Electronic devices also have the advantage of making gift-giving less of a hassle at Christmas, because it is easier to choose the right size or flavour.” A Banqmi spokesperson notes that “the most surprising thing in this sense is the recovery in travel, which has returned to the growth rates of the years before the arrival of the coronavirus”: 9.6% of respondents confirm that they will spend some money on travel, compared to 7.5% in 2022 or 9.10% in 2021. In 2020, this rate decreased to 2%.
Black Friday consumer profile: getting older
By gender and place of purchase, the results remain more or less constant: Of those who say they will buy something on Black Friday, 56.5% are women and 43.50% are men.. Moreover, as in previous years, purchases from online stores (42.40%) are much more than physical stores (18.10%) and even a mixture of both (39.50%).
The only thing that changes slightly is the age of consumers. Those aged 46 and over were the ones who increased their purchase predictions the most: 35.80% guarantee they will buy something on Black Friday sale day; This rate is 4.4 points above last year’s 31.40%. “Traditionally, shoppers during Black Friday have been the youngest, and this year we are seeing older generations also signing up to look for savings,” Gallardo concludes.