Black Friday shoppers go crazy in the USA
Nearly two in three Hong Kong adults will be shopping Black Friday and other festive sales days this year, according to new research from financial comparison site Finder.com.
A survey of 1,204 Hong Kong adults reveals 60%, equivalent to around 2.8 million people, are planning to shop the festive sales this year – if the price is right.
Those planning to shop say it will take an average discount of 44% to entice them to make a purchase.
Women are slightly more likely to shop the sales than men (62% versus 57%). However men might be tempted by a smaller discount. On average men need a discount of 43% to motivate a sales purchase while women say a discount of 46% will entice them to shop.
What percentage would retailers need to discount their products to make you purchase something this holiday sales period?
Finder conducted similar research in 11 other countries revealing Hong Kong ranks fifth, tied with Ireland and Germany, for the highest percentage of people who will be enticed to shop the sales.
That’s behind countries like South Africa (70%) and France (66%) but ahead of countries like Canada (59%) and the United States (57%).
Finder.com senior writer and money expert, James Martin, says you can pick up some great discounts over the next couple of months.
“If you have your eye on a certain product you should consider waiting to see if it’s discounted during the sales season.
“Even if you are in a rush, it’s still worth comparing your options – we’re already seeing heavy discounts ahead of Black Friday at brands like ASOS and YOOX.”
However Martin also warned consumers about impulse purchases and overspending this sales season.
“With 60% of Hong Kong adults admitting they could be swayed to make a purchase provided it’s discounted, the data suggests many Hong Kong adults could fall into the trap of making an impulse purchase.
“While shopping the sales can save you money, the rush to get a bargain can actually mean you spend more than you would have otherwise. Ask yourself if it’s something you would have bought if the sale price was the normal retail price, or whether you’re getting swept away by discounts.”
You can view the full report here: https://www.finder.com/hk/black-friday-statistics
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