blackfriday.ch publishes the 8th edition of the observatory Black Friday in Switzerland. In times of global uncertainty, what are the consumption trends for the month of November in Switzerland? Every year since 2016, this survey puts into perspective the evolution of purchasing behavior for the commercial operation that Black Friday has become in Switzerland. Although controversial, this event seems to find its place in the shopping calendar of those surveyed
Lessons from this 2024 edition
This year, we can draw four trends: purchasing intentions are up 6% with an average budget of CHF 282.87.-; household appliances are at the top of the sought-after product categories, followed by fashion, mobile telephony, IT and sport. Social networks (Facebook, Instagram, WhatsApp) are taking over merchants’ e-commerce sites as a source of information on offers. And everything will be played out in the short term, in fact the anticipation of purchases should not exceed 7 days before the date of November 29.
A recognized event, but more demanding consumers
Despite the controversy, Black Friday is now recognized as an event conducive to good deals. Thus, more than 82% of those surveyed declared their intention to make purchases during the November shopping events. Proof that enthusiasm for this promotional day continues to grow (76% in 2023). Consumers are, however, more critical of the operation, particularly for environmental reasons (29.74%) or because they consider that good deals are not really good deals for 36.46% of responses. Merchants still have plenty of room for improvement in their transparency towards buyers.
Purchase intentions and average basket
For this new edition, the Black Friday observatory asked consumers about the budget they intend to devote to Black Friday spending this year. The greatest number of responses are below the CHF 100 mark (21.53%), with a large majority (47.89%) having a budget capped at CHF 500. We will also note a slight increase in the number of undecided people (28.89%) compared to last year (26.50%) who do not yet know how much they will spend on their purchases this year. In the end, across the entire survey, the Swiss will spend on average CHF 282.- this year for their Black Friday purchases. An increase of 6% compared to 2023. “We are observing, among consumers, a growing interest in discount periods at a time when purchasing power is decreasing…” comments Jérôme Amoudruz, co-founder of blackfriday. ch. If the figures do not see a significant jump, the trend of the event remains one of growth in participants, declared budget and expenses. A growth of 6% in the average basket remains the norm in a period of economic uncertainty and purchasing power crisis faced, in particular, with rising health costs.”
Fashion in slight decline to the detriment of household appliances
Fashion, high-tech and beauty are the flagship categories of Black Friday. But in 2024, we see a difference in the expectations of those questioned regarding the categories of products sought. Among the categories in decline this year, we will cite fashion, with a drop of 12%, and beauty products (-6%). In terms of increases, household appliances increased by 3% to reach 29.6%, mobile telephony with smartphones and equipment (+2%) and mobile subscriptions (+2%). Proof of this is that consumers are increasingly preparing their purchases and are less likely to make impulsive purchases.
Purchasing journey and omnichannel
Between the search for information and the place of purchase, the purchasing journey is omnichannel. Even if the transaction is carried out both at the point of sale and on the Internet for 54.30% of respondents, online purchases only will experience a significant increase of 6%, a confirmation that, for consumers, the Internet has become the place good deals.
However, the search for information on promotions is mainly done via social networks (a cumulative total of 43.24% for Facebook, Instagram and WhatsApp) followed by the Email channel which with 43.31% remains the most efficient ahead of a portal like blackfriday.ch or the merchants’ e-commerce site which caps at 10.90%. This trend illustrates the efforts that brands and distributors are making to be as close as possible to consumers via a direct channel such as emailing or social networks. “Brands and distributors have focused their efforts on direct contact points with their target. Email, supported by CRM strategies and advanced personalization, remains the most effective lever in digital… Consumers are increasingly fond of a direct link with their favorite brand or store. It will be interesting to see the evolution of channels like WhatsApp or the growth of social commerce in the next surveys…” underlines Jérôme Amoudruz
When it comes to the information search period, consumers have adapted to marketers’ strategies. It is during the week of the event, Black Week, that consumers concentrate their efforts. In fact, 43.31% made their purchases the week before the event compared to only 18.5% on the day.
Black Friday, which reached its peak in 2022, is now anchored in the shopping calendar of buyers looking for bargains. With a controlled budget, anticipation of purchases and an active search for information, we see better prepared consumers who give in less and less to impulsive purchases. After the year of maturity of the biggest shopping event on the planet, the time has come for consumers to come of age.
Survey methodology :
Online survey carried out from October 15 to 22, 2024 with a sample of 523 participants, aged 18 to 74, representative of the Swiss population throughout the Confederation. Analysis based on data collection since 2017. Sources: blackfriday.ch, “Observations of Black Friday purchasing behavior in Switzerland” 2017, 2018, 2019, 2020, 202, 2022, 2023, 2024.
