Black Friday continues to be one of the most anticipated shopping events in Romania, with 57% of Romanians planning to make purchases in 2024, and the total estimated budget reaching 1.2 billion euro, according to the "Black Friday Trends 2024 vs 2023" study conducted by a research agency.
Eight out of ten Romanians have already set the amounts they plan to spend, taking into account mainly their available income (67%), but also what is on their wish list (34%). Thus, with an average budget of nearly 400 euro per person, up 20% from 2023, electronics and household appliances remain the dominant category in the market (58%), while interest in fashion items has decreased (-13% compared to 2023).
"Although the preference for online shopping is slightly decreasing (-5% compared to 2023), it remains the main purchase channel, complemented by a mixed approach. Generation Z takes the most advantage of the flexibility offered by omnichannel shopping," the study creators mention.
Black Friday shopping will focus on technology products and durable goods, with electronics and household appliances being the top preference for 58% of Romanians. Up 5% from last year, IT & C products are gaining ground and are becoming a priority for 32% of shoppers.
On the other hand, fashion is losing its general appeal (-13% compared to 2023), but it remains relevant for certain segments: 41% of Generation Z and 42% of women still want to purchase fashion items on Black Friday.
"Purchase intentions remain stable compared to 2023. For active shoppers, the event represents an opportunity to purchase desired products and brands at more affordable prices (54%)," say MKOR specialists.
According to the study results, many see Black Friday as a good opportunity to buy Christmas gifts (23%) or birthday gifts (14%). The majority of those planning to shop on Black Friday are young people from the Generation Z and Millennial age groups, as well as individuals with a monthly income of over 6,000 lei.
The segment of undecided consumers (31%), mostly people over 44 years old and with lower incomes (under 3,000 lei), could be attracted by large discounts on products and services of interest to them.
Men remain the main rejecters (68%), although their percentage has decreased compared to 2023 (by 8 percentage points). In contrast, the share of those who actively reject the event has doubled over the past three years (from 5% in 2022 to 10% in 2024).
Large discounts are the main expectation for 6 out of 10 Romanians who want discounts, on average, of 50% off the price. The most interested in discounts are Millennials, men, and people with lower incomes.
A quarter of respondents want sufficient stock for Black Friday. This aspect is particularly important for those with higher incomes, who are more concerned about the availability of desired products compared to the average of the sample.
MKOR founder Cori Cimpoca says consumers are becoming more selective and skeptical about the discounts, therefore retailers should meet consumers' expectations and offer consistent discounts.
Consumers base their budgets both on available income and on past shopping experiences. The average individual shopping budget for Black Friday is estimated to be just under 400 euro, an increase of 20% compared to 2023.
Additionally, 32% of respondents have plans for major purchases, exceeding 400 euro, while 40% have allocated a smaller amount, under 200 euro.
The "Black Friday Trends 2024 vs 2023" study was conducted in October on a sample of 1,000 respondents, nationally representative by gender, age (18-55 years), and geographic distribution, based on the most recent data from the National Institute of Statistics (INS).
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