Inflation has had a lasting impact on purchasing behavior: The number of consumers who want to benefit from the discounts on Singles' Day and Black Friday in November remains high. This is shown by a recent survey conducted by Profital in collaboration with the Swiss Retail Federation. While customers reduce their consumption in everyday life and pay attention to discounts, they specifically plan larger purchases during the shopping days - especially in the areas of fashion and electronics.
87 percent of consumers want to take advantage of Singles' Day (11.11.) and/or Black Friday (24.11.) again this year - above all to buy higher-value products for themselves and others. For more than a third (36 percent), the two days are more popular than last year.
has become even more important, for 50 percent it has remained the same. Customers are making targeted preparations for this: More than three quarters (76 percent) inform themselves about offers in advance.
High budget on shopping days, price-sensitive in everyday life
The respondents plan to spend a similar amount on both days as last year: a median of CHF 300 for Black Friday and CHF 200 for Singles' Day. The main purchases will be higher-value products (43 percent) that consumers would otherwise not be able to afford - for example in the areas of clothing and electronics. The main reason for this unchanged development is probably the challenging consumer environment. Inflation is influencing the purchasing behavior of more than 83 percent of respondents, particularly when it comes to buying groceries: three-quarters of customers say they are finding out more about special offers and more than 40 percent are increasingly buying cheaper products.
"Our current studies clearly show that Swiss consumers are increasingly interested in special offers. The shopping days in November are therefore of enormous relevance to them. This is when they want to spend a considerable part of their consumer budget. However, this is less spontaneous and impulse-driven than usual. Instead, consumers are preparing for it in a targeted manner. And that's exactly what retailers should do in order to use these shopping days to boost their own sales and kick off the pre-Christmas season successfully," says Raphael Thommen, Chief Commercial Officer (CCO) of Bring! Labs AG, the company behind Profital.
Tips for dealers:
1. consumers are aware of shopping days, plan them carefully, and their willingness to buy is high. Accordingly, new customers can be won with effective offer communication.
2. consistent offer communication in the run-up and early announcement of the Shopping Days offers are worthwhile in order to gain a competitive advantage. In this way, the company is present in the minds of consumers when Black Friday purchases are researched and planned. Singles' Day can also be used to test the first special offers and stimulate the desire to consume.
3. purchasing decisions are often already made in the planning phase. Targeted communication of promotions is recommended so that potential customers are informed about the offers before they enter the store or visit online stores.
Younger people show the greatest interest in shopping days. For example, 95 percent of 18- to 29-year-olds plan to buy products at these events. And already more than a third of those surveyed (36 percent) are using the offers to store for Christmas presents.