The predictions on how much money Ukrainians, Americans, and Europeans will spend on Black Friday 2020
Analysts at CyberMonday.Global studied the statistical data on global sales Black Friday and Cyber Monday and made the predictions for 2020.
As it turned out, 26% of Ukrainians were disappointed with their experience during last year’s sales, and this is one of the highest figures worldwide. In 2020, an average Ukrainian plans to spend on sales 3,800 UAH ($139), a Polander – $247, and an American – $476.
The Ukrainians showed the highest interest in Black Friday and Cyber Monday in 2018. In the past 2019, the activity of Internet users was not the highest. But, in 2020, the pandemic and unstable situation in the labor market and the economy can reduce consumer buying activity.
In 2019, during Black Friday sales in Ukraine, the number of transactions was 691 percent higher than the annual average, and the Cyber Monday activity of buyers compared to the ordinary day was more by 197 percent.
Change in sales day by day
- The biggest activity was noted on Friday: this day accounted for 24 percent of all transactions in the period from November 25 to December 2.
- Monday after Black Frida had the smallest number of sales during the analyzed period.
- In total, 9 percent of all annual sales took place during the eight days of sales.
Ukrainians among the most dissatisfied shoppers with Black Friday
One-third of Ukrainians, who took part in autumn sales, were satisfied, and 40 percent were rather satisfied. However, 21 percent are rather dissatisfied, and 5 percent are dissatisfied – and this is one of the highest indicators of dissatisfaction by countries. More dissatisfied shoppers are only in Argentina and South Africa.
What disappointed customers the most?
- Among people who negatively evaluated the sales, 59 percent indicated that the discounts were not large enough.
- The next most popular reason for dissatisfaction (53%) was the lack of discounts on the goods of interest.
- 35 percent noted that the discounted products were sold out too quickly.
- And 10 percent of dissatisfied people said that discount codes did not work.
What do people buy on Black Friday and Cyber Monday?
Statistics of search queries can tell a lot about Ukrainian buyers. Black Friday and Cyber Monday are associated primarily with discounts on electronics. However, in Ukraine, young mothers actively participate in sales. During November sales, the demand for goods for children is growing most of all – 47 percent compared to the average annual figure. A similar increase is typical for buyers from Australia, Portugal, Poland, Romania, Spain, and Russia.
How much are Ukrainians ready to spend on sales?
The survey conducted among residents of 44 countries shows that Ukrainians are ready for relatively low spendings. We are ready to spend approximately 3,800 UAH ($139) during sales. Residents of South Africa ($130) and Hungary ($145) are ready to spend a similar amount.
The largest part of the sales is planned to be spent by residents of the USA ($476), Switzerland ($454), and England ($430). The most modest purchases will be made in Pakistan ($62) and Nigeria ($67).
All statistical data comes from Google Trends, Google Keyword Planner, and Picodi.com, a global discount platform operating since 2010, which created CyberMonday.Global, a site dedicated to Cyber Monday sales. The survey conducted in September 2020 among 19 thousand respondents from 44 countries were also used in the report. For currency conversion, was used the average exchange rate from Google Finance.