While Black Friday may have initially started off as a commercial ploy to generate sales in the United States, it has since crossed the ocean to other continents.
For businesses, it’s a good way to draw in the crowd; for consumers, it’s just nice to get a variety of promotions and discounts on all sorts of goods and products.
Malaysians have taken to Black Friday with gusto, keeping an eye out for any and all sales in shopping malls and retail stores.
Black Friday is not the only shopping holiday in November though, as many Asian countries have a Singles’ Day on November 11.
So named due to the multiple “ones” in the date, Singles’ Day started off in China but has since caught on in many Asian countries.
Picodi.com, the discount-hunting e-commerce platform, ran a study on Malaysian consumer habits and found that most people participate in both Singles’ Day and Black Friday sales.
39% of respondents took advantage of both sales, while 36% shopped on Singles’ Day only and the remaining 25% on Black Friday only.
In an interesting result, it found that shoppers in certain cities expressed more interest in Black Friday than others.
In particular, Kuching had the biggest increase of interest in Black Friday, followed by Petaling Jaya and Johor Bahru.
Bayan Lepas took the fourth place followed by Melaka.
It is surprising to learn that slightly more men than women are participating in this year’s Black Friday sales.
Compared to 63% of men expressing interest, a slightly lower 60% female respondents are going to join in this year’s sales.
Women buy more, purchasing 5.5 products on average while men buy four.
However, men spend more on their purchases, with their average spending amounting to RM616 while women forked out RM433.
Both genders spend money on clothing and shoes; women also keep an eye out for cosmetics and perfumes while men pick up electronics.
In terms of types of promotions, women have a fondness for discount coupons and codes.
Women also appreciate a higher discount on selected products, followed by a lower discount on an entire range of products.
Men on the other hand prefer a higher discount on selected products followed by a lower discount on an entire range of products. Discount coupons and codes are least favoured by men.
As to where Malaysians do their shopping, half of the respondents shop online, while 5% shop in brick and mortar stores. The remaining 45% engage in both.
While a majority of Malaysians are patient enough to line up to buy a product they want, 23% of female and 29% of male respondents said they would give up on buying the product.
Workplace supervisors may want to pay closer attention to their employees’ activities, as 70% of Malaysian employees shop online during work hours.
Most purchases are made between 3pm to 4pm.
To read Picodi’s ‘Black Friday in the Eyes of Malaysians’ report for yourself, visit picodi.com/my/inspirations/black-friday.