As the digital world continues to shape consumer behaviour, events such as Black Friday, Cyber Monday, Amazon Prime Day and Asia’s Singles’ Day have emerged as some of the most anticipated shopping events of the year. These exceptional days, synonymous with jaw-dropping discounts and unbeatable deals, have surged through the retail sphere, igniting both shopping frenzy and strategic preparations among enthusiastic buyers.
At DCMN, we are committed to understanding consumer preferences and behaviours to help brands navigate the evolving market landscape. In August 2023, we conducted an insightful study using our Brand Tracker to delve into the world of Black Friday and Cyber Monday future spending trends among 2000 German consumers. Let’s explore the findings that provide a comprehensive view of this year’s anticipated shopping events.
The Likelihood of Purchasing
One of the standout findings from our study is that a significant majority of German consumers (66%) are inclined to make a purchase during the Black Friday and Cyber Monday sales. This inclination is particularly pronounced among the younger generation, specifically those aged between 25 and 35. This demographic showcases a higher likelihood of participating in these shopping events, indicating the strong allure these sales hold for the tech-savvy and trend-conscious youth.
66% of German consumers are inclined to make a purchase during the Black Friday and Cyber Monday sales
Preferred Product Categories
When it comes to the products that German consumers are most excited to purchase during these sales, two categories reign supreme. Electronics take the lead, with an impressive 64% of respondents expressing their intent to snap up electronic gadgets and tech deals. On the other hand, Fashion & Apparel follows closely behind, with 47% of consumers eyeing stylish bargains. We observe a gender disparity in preferences, as men show a higher inclination towards electronics, while Fashion & Apparel appears to be the domain of choice for women.
Targeted Age Group Trends
Our study also sheds light on specific age group trends that add intriguing nuances to the overall consumer landscape. Men aged 30 to 45 exhibit a greater interest in toys and games compared to their female counterparts. This finding corroborates a recent article we published on Gamers, further emphasising the evolving nature of traditional gender-associated preferences. In contrast, women aged 25 to 29 show heightened interest in cosmetics shopping on Black Friday, indicating a clear alignment between age and shopping aspirations.
The Thrill of the Hunt
For a substantial portion of German consumers (58%), the thrill of uncovering the best deals during Black Friday and Cyber Monday is an exhilarating experience. This sentiment is particularly pronounced among the 25 to 35-year-old age group, who are more than ready to seize the opportunity to score big savings. The buzz surrounding these shopping events is not only about purchasing products but also about the hunt for the most enticing offers.
Balancing Impulse and Planning
While the appeal of impulsive shopping is undeniable, our research shows that a delicate balance exists. A significant 57% of respondents admit to indulging in impulse purchases, a behaviour that transcends gender lines. However, it’s worth noting that half of the consumers surveyed make conscious efforts to restrict their shopping to items they truly need. Strikingly, statements related to limiting purchases, setting budgets, and planning ahead are more prevalent among men, highlighting a proactive approach towards managing spending habits.
Promotions and Buying Methods
Now that we know what German consumers plan to buy during Black Friday and Cyber Monday, let’s delve into the how. In our Shopping Seasons article, we provide in-depth insights into how German consumers stay informed about special deals, their preferred shopping channels, and whether they tend to return items.
The insights gleaned from our August 2023 DCMN Brand Tracker study offer a fascinating glimpse into the world of Black Friday and Cyber Monday consumer spending in Germany. From age-related preferences to gender-based inclinations, our research paints a comprehensive picture of the evolving shopping landscape. As we approach these much-anticipated sales events, brands can leverage these insights to tailor their strategies and offerings, catering to the unique desires of their target audience. At DCMN, we remain committed to unravelling consumer behaviours to empower brands in making informed decisions in an ever-changing marketplace.
Are you a brand seeking opportunities to capitalise on the Black Friday and Cyber Monday periods? Perhaps you’re already mapping out your Christmas and New Year’s marketing strategies? We’ve got you covered! From insights to media planning, and from creatives to tracking, we have everything in-house. If you want to learn more, simply get in touch via the button below.