Techawk

Entrepreneurship, Innovation and Startups News Hub

Black Friday

Nigerians Spend ₦26,000 on Black Friday-Picodi Black Friday Report

For years, Black Friday has attracted the interest of many Nigerians.

This shopping holiday, which comes from the United States, draws in crowds of consumers who are making the best of the discounts offered to them.

That is why, seeing the interest of clients, stores decided to expand their offers for the entire week, not just Black Friday. Thanks to that, discount lovers can enjoy rebates from the Monday preceding the biggest shopping fest in the world until Cyber Monday.

Picodi.com analytics decided to check the attitude of Nigerians toward Black Friday, wherein Nigeria the interest in Black Week sales is the biggest, as well as how much money consumers spend and what they buy.

To buy or not to buy?

Nigerians and Black Friday

More than three-quarters of Nigerians (78 percent) took part in last year’s Black Friday sales. 

Although this number may surprise, in reality not all consumers participated in the sale on the biggest shopping fest in the world itself.

60 percent of shoppers decided to shop on Friday, but as much as 34 percent did their shopping from Monday to Thursday, and 28 percent enjoyed special offers over the weekend after the biggest shopping fest in the world (Saturday and Sunday).

The vast majority of shoppers (77 percent) were satisfied or rather satisfied with their Black Friday experiences. 21 percent of respondents were rather unsatisfied, and the remaining 2 percent were unsatisfied with their Black Friday shopping.

Among the people who did not take part in last year’s Black Friday, the most common reason (38 percent of answers) was that they simply missed the event. 30 percent of people taking part in the survey said that they did not know what the biggest shopping fest in the world is at all.

The remaining pointed out that the discounts were too low or that the products that they wanted to buy were not on sale (16 percent each).

States where people love promotions

WHERE IS BLACK FRIDAY LOVED THE MOST?

Based on online search queries, we found the states where the interest in Black Friday sales increased the most from 2016 to 2019. 

Kebbi took the first place — in this state, the interest in discounts increased as much as 1,300 percent. Taraba placed second with a 1,000 percent increase. Bayelsa, where the increase of interest amounted to 967 percent, completed the podium.

The least interested in Black Friday sales are citizens of Nasarawa where the search queries dropped by 63 percent.

Big bucks

FINANCIAL ASPECT OF BLACK FRIDAY

Statistically, Nigerians spend ₦26,000 on Black Friday. It is worth noting that men spend a lot more money than women during Black Friday sales: ₦28,988 vs ₦22,000. It doesn’t necessarily mean that men buy more than women — they could just buy more expensive items.

When asked about Black Friday spending, many respondents claimed they are going to spend a similar amount as last year (32 percent). More than half are planning to spend more (52 percent), and 16 percent are going to spend less money than last Black Friday.

People who are going to spend more usually justified their answers by the fact that they are simply planning to buy more products (61 percent indicated such reason).

37 percent is going to buy some expensive item this year, such as electronics or home appliances. 12 percent is going to buy more luxurious products than last year.

On the other hand, among the people who are planning to spend less, 23 percent said that their smaller budget is caused by job loss. 41 percent is not planning expensive shopping this year, and 40 percent is going to buy fewer items.

Selling like hotcakes

THE MOST DESIRED PRODUCT CATEGORIES

Invariably, electronics are among the products which rule during Black Friday sales. It is the most frequently chosen category of products — 43 percent of consumers will buy electronics. Clothes (40 percent) and shoes (21 percent) were the second and third top categories.

Home appliances and grocery tied for the fourth place (18 percent each), followed by cosmetics and food on delivery (16 percent each). Child care products were less popular during Black Week (14 percent). Sports items and jewelry rounded out the top ten categories with 12 and 11 percent respectively.

Follow me
Jiji Nigeria
We would like to make you the first to get all our updates!    OK No thanks