November is cold and foggy, but a workout that warms the heart of every saver. This year, Singles’ Day from China will be held on November 11, and Black Friday, which has long been established in Germany on November 26, will be tempting with campaigns of sale and special offers.
But how do German consumers move in light of the upcoming discount battles? Are you going to look for a bargain on both days or are you focusing on one event? And do women always buy more than men? A representative study conducted by the mydealz consumer forum with 5,000 participants, among others, provides some surprising findings on these questions.
When it comes to the popularity of the two shopping events, they differ greatly. This may be because Singles’ Day is not as well known in Germany as Black Friday, which premiered in Germany in 2006. Only two percent of study participants only wanted to shop on Singles’ Day. In contrast, about 35 percent just want it Black Friday to me the shopping to use. Overall, there’s a lot of interest in particularly low-priced deals: More than 54 percent of those surveyed plan to look for deals at particularly low prices on both days.
Differences can also be seen in terms of the average target shopping budget: at around €320, Singles’ Day is more than €100 behind Black Friday. On Black Friday, people surveyed expect an average total spending of around €429. Regardless of whether they go on a shopping spree at only one or both events, it can be argued that men plan to spend more than women – thus standing up to the bias that shopaholics are generally female.
Shopping mood is not clear
Despite the lack of chips and constant delivery problems, the buying mood was largely unbroken. This is also evidenced by the mydealz study: More than half (55 percent) of consumers who just want to shop on their Singles Day plan spend more this year than last. On the other hand, consumers who only want to shop on Black Friday are somewhat more cautious: a good third (38 percent) of them assume they won’t spend more on this day than last year, and about 40 percent expect higher spending. Among consumers who want to look for deals on Singles’ Day and Black Friday, there is a third plan to buy at least the same amount as the previous year. On Singles’ Day, 36 percent also expect higher spending and on Black Friday up to 45 percent.
Christmas casts a shadow on both days. Nearly three-quarters of those surveyed use shopping events to buy gifts for loved ones at particularly low prices.
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Technology discounts are especially common
The fact that so many people use both occasions to shop for Christmas seems to have an impact on the choice of products bargain hunters are looking forward to: Both Singles’ Day and Black Friday are particularly merchandise from the home electronics, TV & HiFi segments as well as smartphones and tablets. The fact that technology and electronics in particular dominate shopping lists can be a reason why men want to spend more than women on both days.
A note on survey methodology:
The above data is the result of a survey conducted by the mydealz consumer forum from October 12 to October 19, 2021 with the help of Survey Monkey among 5,000 consumers.
www.mydealz.de
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