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Black Week 2020 predictions: 1 out of 5 Malaysians is going to spend less than last year

For years, Black Friday has attracted the interest of many Malaysians. This shopping holiday, which comes from the United States, draws in crowds of consumers who are making the best of the discounts offered to them. That is why, seeing the interest of clients, stores decided to expand their offers for the entire week, not just Black Friday. Thanks to that, discount lovers can enjoy rebates from the Monday preceding Black Friday until Cyber Monday.

Picodi.com analytics decided to check the attitude of Malaysians toward Black Friday, where in Malaysia the interest in Black Week sales is the biggest, as well as how much money consumers spend and what they buy.

Almost two-thirds of Malaysians (61 per cent) took part in last year’s Black Friday sales. Although this number may surprise, in reality not all consumers participated in the sale on Black Friday itself. 58 per cent of shoppers decided to shop on Friday, but as much as 41 per cent did their shopping from Monday to Thursday, and 18 per cent enjoyed special offers over the weekend after Black Friday (Saturday and Sunday).

The vast majority of shoppers (93 per cent) was satisfied or rather satisfied with their Black Friday experiences. 4 per cent of respondents were rather unsatisfied, and the remaining 3 per cent was unsatisfied with their Black Friday shopping.

Among the people who did not take part in last year’s Black Friday, the most common reason (59 per cent of answers) was that they did not know what Black Friday is at all. 33 per cent of people taking part in the survey said that they simply missed the event. The remaining pointed out that the products that they wanted to buy were not on sale or the discounts were too low (5 and 3 per cent respectively).

States where people love promotions

Based on online search queries, we found the states where the interest in Black Friday sales increased the most from 2016 to 2019. Labuan placed first with a 200 per cent increase of interest. Negeri Sembilan and Kedah tied for the second place — in both these states, the interest in discounts increased as much as 190 per cent.

The least interested in Black Friday sales are citizens of Johor where the search queries dropped by 45 per cent.

Big bucks

Statistically, Malaysians spend RM489 on Black Friday. It is worth noting that men spend slightly more money than women during Black Friday sales: RM493 vs RM487.

When asked about Black Friday spending, many respondents claimed they are going to spend a similar amount as last year (25 per cent). More than half is planning to spend more (57 per cent), and 18 per cent is going to spend less money than last Black Friday.

People who are going to spend more usually justified their answers by the fact that they are going to buy some expensive item this year, such as electronics or home appliances (51 per cent indicated such reason). 48 per cent is planning to simply buy more products, and 15 per cent are going to buy more luxurious products than last year. On the other hand, among the people who are planning to spend less, 31 per cent said that their smaller budget is caused by job loss. 31 per cent is not planning expensive shopping this year, and 38 per cent prefers to set money aside for a rainy day.

Selling like hotcakes

Invariably, food on delivery is among the products which rule during Black Friday sales. It is the most frequently chosen category of products — 51 per cent of consumers will buy food on delivery. Clothing (40 per cent) and shoes (25 per cent) were the second and third top categories.

Electronics ranked fourth (24 per cent), followed by cosmetics (14 per cent). Travel was less popular during Black Week (12 per cent), similarly to grocery or gifts (11 per cent each). Jewellery and goods from China rounded out the top ten categories with 10 per cent each.

Methodology

All statistical data comes from Picodi.com, a global discount platform operating since 2010. The survey conducted in September 2020 was also used in the report.

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