Hongkongers expected to boost Black Friday spending
New research on the Black Friday shopping event – next scheduled for November 29 – shows Hongkongers are planning on spending around HK$647 (US$82.50) per person both online and offline.
The research conducted by Black-Friday.Global shows that during Black Friday, an average Hongkonger buys 3.4 products, with the peak of shopping activity taking place at midnight and 11pm.
In the autumn and winter seasons, Black Friday sales play an important role not only in terms of e-commerce turnover but also the activity of shoppers. The event used to be a one-day happening in the US; however, over the past few years, it has grown into a shopping marathon that lasts for several days. In Hong Kong, Google Trends data for November 19-25 last year shows that one third of all queries related to Black Friday sales were recorded on the actual Friday (33.7 per cent).
Two thirds of Hongkongers surveyed are aware of the existence of Black Friday. However, not all of them were able to recall the exact date, which may explain the gradual increase of interest in this event even a few weeks before it takes place.
Internal Black-Friday.Global data for last year in Hong Kong shows a 470-per-cent increase in sales compared to an ordinary day. Statistical data from the past few years show that an average Black Friday discount in Hong Kong has slightly decreased (from 61 per cent in 2017 to 59 per cent in 2018). These numbers exceed expectations of Hongkongese consumers (who get ready for 41-per-cent markdowns).
According to the survey, among Hongkongers who are going to take part in the Black Friday frenzy, 48 per cent already know what to buy. As for the number of purchased items, Hongkongers are going to buy 3.4 on average. Past years’ statistics indicate that the most popular categories of products among Black Friday shoppers in Hong Kong are clothing, shoes, cosmetics and perfumes, electronics, as well as jewellery.
Over the past five years, the popularity of this shopping event has been growing. The survey suggests that almost half of Hongkongers will participate in Black Friday this year (an increase of seven percentage points compared to 2017). The vast majority of consumers will only shop online (82 per cent), the rest will either opt for offline-only (9 per cent) or will shop both online and in-stores (9 per cent). For comparison, in 2017 the percentage of users choosing brick and mortar stores only was higher by more than a third (15 per cent vs 9 per cent).