The biggest sale of the year is just around the corner and every year, thousands of sale lovers look forward to the end of November. This is when Black Friday, the biggest shopping craze of the year, takes place. Retailers have been preparing for months to finally, on 29th November, unveil the best promotions and discounts for their clients and Picodi.com has prepared a bunch of stats and facts about Black Friday in Malaysia.
Black Friday in the eyes of Malaysians
Originally, Black Friday used to be known only in the United States. However, in the last few years, the event has spread to other continents, including our country. Malaysians have welcomed with open arms the opportunity to participate in huge sales and make great savings.
In which part of Malaysia is Black Friday the most popular? What are the differences in attitudes toward sales among men and women? How much money are Malaysians willing to spend and on which products? Where and when do Malaysian consumers shop? Picodi.com analysts look closer into the Black Friday phenomenon and answer these questions.
The kings of all sales
Black Friday is not the only shopping holiday in November. In many countries, Singles’ Day is celebrated on November 11th. Named after the multiple “one” numbers in the date, representing people who are single, Singles’ Day originated in China. The high discounts offered on that day attract huge crowds, especially in Asia.
The survey conducted by Picodi.com shows that Black Friday is widely popular in Malaysia. Among respondents who took part in one of November shopping holidays, 25 percent participated in Black Friday sales. 39 per cent took advantage of both Black Friday and Singles’ Day. 36 per cent answered that they took part in Singles’ Day only.
Shopping boom in Malaysian cities
Although Black Friday is celebrated throughout Malaysia, in some cities people anticipate it more than in others. With the internal data from Picodi.com, we found cities where an increase of visits in online stores was the largest (compared to an ordinary Friday).
The biggest increase of interest in Black Friday sales was noted among citizens of Kuching. Black Friday has also gained significant popularity among residents of Petaling Jaya and Johor Bahru, who took second and third place respectively. Bayan Lepas landed in fourth place, followed by Malacca.
Male versus female shoppers
Black Friday sales are popular among both male and female citizens of Malaysia. As much as 60 percent of female respondents are going to take part in Black Friday — it is only 3 percentage points less than male shoppers.
Women purchase more products: 5.5 in comparison with 4 bought by men. Paradoxically, men spend more money than women on Black Friday. An average woman is willing to spend around RM433, while an average man around RM616.
The reason behind such a difference may be the fact that on Black Friday a top category of products bought by men is electronics. Other than that, both male and female shoppers chose clothing and shoes as their top purchases. What is more, women spend 94 percent more time on shopping compared to men.
Black Friday is all about the promotions. In this case as well, men and women have separate preferences. The surveyed women choose a discount coupon or code as their favourite type of promotion. The second place takes a higher discount on selected products, and a lower discount on an entire range of products is in third place. On the other hand, men’s favourite promotion is a higher discount on selected products. It is followed by a lower discount on an entire range of products and then a discount coupon.
No time to lose
The popularity of online shopping is rising year after year, especially because of events such as Black Friday or Singles’ Day. Half of the surveyed Malaysians are going to shop online on Black Friday. 45 percent of respondents decided to shop in both online and offline stores. Only 5 per cent are going to shop exclusively in brick-and-mortar stores.
One of the reasons against shopping in malls is having to wait in lines. Although in Malaysia the situation is not as extreme, in some countries, special tutorials are created on how to endure the never-ending queuing on Black Friday. Nevertheless, not everyone is willing to waste their time standing in line. Among Malaysian respondents, as much as 23 percent of women and 29 percent of men declare that they would rather give up on purchasing a product than wait in line.
Those who decide to place orders online do not have to worry about queues and can shop around-the-clock. On the Malaysian Internet, peaks of shopping activity fall at 3 and 4 PM. Consumers make purchases at home, during the commute, or even at work — 70 percent of surveyed Malaysians admitted that they buy while working.