In recent weeks and on the occasion of Black Friday and Cyber Monday, not a few brands have launched consumers with more aggressive offers than usual in order to recover the slowdown in sales caused by the Covid crisis. But, how are the purchases this year? We are talking about the most unusual black week in years. The comparator Acierto.com analyzes it.
Thus, the first change is having to do with consumption, which is growing. According to the data managed by the entity, 40% of consumers say they have made and will make purchases to take advantage of the discounts of this time. Last year the percentage was 33%.
The figure draws powerfully attention, especially at a time of uncertainty such as the current one in which the unemployment rate has skyrocketed and in which the economy has been slowed down. On the other hand, more than half of those surveyed say that the pandemic influences and will influence the way they shop this Christmas.
Involuntary saving, a determining factor
Among the factors behind this consumption, we find one determining factor: confinement has favored involuntary savings. Specifically, families saved 31.1% of their income during the second quarter of the year –the savings stood at 60.204 million euros, compared to 36.856 million euros in the second quarter of last year–. A historical record that exceeds the previous maximum of 20.1% by more than 10 points, reached in the second quarter of 2009, in the midst of the financial crisis.
Here it should be clarified that, in general terms, we are the fourth country in the euro area with the lowest savings rate. A scenario directly related to the absence of planning and financial culture, among others.
The aggressiveness of the offers also influences and determines how much buyers are spending. In addition, the online consumer is a consumer who compares (according to data from Acierto.com, 9 out of 10 users compare before buying, and this allows them to save up to 50% on some products). Likewise, and given the current situation, families prefer to buy at more competitive prices.
The frustration accumulated by the pandemic will trigger purchases
Finally, the frustration accumulated by the situation of the pandemic is another factor that is impacting sales. Here the purchase comes into play as compensation. The customer buys because he deserves it, because it is an occasion to give himself a gift. This, in fact, could end up leading to compulsive purchases (affecting three out of every five consumers).
The search for the term Black Friday, on the other hand, began to rebound from October 24, a little earlier than usual. The search for specific offers in certain chains (chain + Black Friday offers) has even grown 170% in some cases. Specifically, the search for “black friday 2020 offers” has shot up 2,050%, according to the data consulted by Acierto.com. And something similar has happened with Cyber Monday.
However, there will be consumers who will postpone purchases due to the uncertainty.
The network, great protagonist of shopping
Regarding the shopping channel, the network has become one of the main protagonists: almost half of consumers say they buy more online now than before the pandemic – the digital channel will represent 89% of purchases this year – . And on Black Friday they will 70%. In fact, 27% of those who used to make physical purchases in this period will give them up this year.
The fear of physical purchase for fear of contagion is being crucial. That is why the campaigns are committed to emphasizing safety.
Other figures to which the Acierto.com comparator has had access point to the fact that courier companies will move more than 50 million packages this discount period, 30% more than last year. And as expected, the great victim of traditional commerce