More than half of Romanians plan to make purchases during Black Friday 2024
Roughly 57% of Romanians are planning to make purchases in the 2024 edition of Black Friday, according to the study "Black Friday Shopping - Plans and Expectations from a Consumer Perspective, 2024" conducted by the market research agency MKOR.
According to the study, 6 out of 10 Romanians want a different shopping experience this year, with substantial but also authentic discounts.
For active shoppers, the event represents an opportunity to purchase desired products and brands at more affordable prices (54%). Many consider Black Friday a good occasion to buy Christmas gifts (23%) or for anniversaries (14%).
The majority of those planning to buy during Black Friday are young people from Gen Z and Millennials and people with monthly incomes over RON 6,000 (EUR 1,200). The undecided segment (31%), consists mostly of people over 44 years old and with low incomes (under RON 3,000 RON).
Men remain the main rejecters (68%), although their percentage is decreasing compared to 2023 by 8%. However, the proportion of those actively rejecting the event has doubled in the last three years (from 5% in 2022 to 10% in 2024).
“Although it remains one of the most anticipated commercial events, with 5.5 million potential buyers, we see clear signals that the market is maturing. Consumers are more organized and selective, discount expectations are becoming more realistic, and the doubling of the rejecter segment in the last three years shows that the classic format may no longer be as attractive. For retailers, 2024 could be the year to rethink the Black Friday experience, focusing more on discount authenticity and adapting offers to consumer expectations,” said Alex Cimpoca, Digital Expert at MKOR.
The findings of the study confirm expectations. Romanians are organized and plan their purchases on average a month before the event. The majority (54%) start preparations up to 2 weeks in advance, while a third adopt a long-term strategy, starting their research 3-8 weeks ahead.
Eight out of 10 Romanians have already set their Black Friday budget, similar to 2023. They mainly considered disposable income (67%) but also what they have on their wish list (34%).
On average, Romanians want to purchase 3 products or services during this period, with the number slightly increasing compared to last year. Although preference for online shopping is slightly declining (-5% compared to 2023), it remains the main purchase channel.
Electronics and home appliances continue to dominate the shopping list in 2024, maintaining their leading position with 58% of preferences. IT&C products are gaining ground, registering a 5% increase over last year and becoming a priority for 32% of active shoppers. Fashion is losing appeal overall (-13% compared to 2023), but remains relevant for certain segments: 41% of young people from Generation Z and 42% of women still want to buy fashion items on Black Friday.
(Photo source: Vasilis Ververidis | Dreamstime.com)
