Black Friday 2022: Romanians are getting better at estimating their budgets

According to the new study, Romanians are becoming increasingly price-conscious.

1 in 2 people stuck to their original plan and bought on Black Friday only the products they had intended to buy in the first place, and among those who made unplanned purchases this year, the main trigger was the advantageous discounts (55%).

Most urban internet users found out about Black Friday offers up to a week before the event, with the day of the event being the most anticipated.

Online search engines were the main source of information about Black Friday 2022 deals.

Most information sources are on a downward trend this year, most likely because fewer Romanians planned their Black Friday shopping than last year, with most accessing the offers directly during the promotional period.

The online environment remains the main shopping channel for Black Friday, although this year, we can see a slight increase in preference for both online and in-store shopping.

As far as online shopping is concerned, the convenience benefits start to take precedence in 2022 (buying everything in one place, exclusive brands/products, delivery/return terms), while the benefits of shopping in physical stores remain traditional and harder to combat online: testing before purchase, being able to have the product on the spot, no delivery fees.

This year’s Black Friday favourite product categories include clothing, make-up products, household appliances, personal care, and skin care products.

Regarding clothing, purchasing behaviour was similar to the previous year. The most popular items in this category during Black Friday were sweaters, hoodies, boots, blouses and shirts, jeans and trousers, as well as coats, but at a lower percentage than last year. People tended to spend a similar budget to 2021 on products in this category, focusing on amounts between 200 and 500 RON.

Make-up products had the best conversion rate this year, followed by body care products. Half of the urban internet users spent more than last year on products in this category – between 200 and 500 RON.

In the electronic devices category, smartphones remain the most purchased product but are on a downward trend compared to 2021 figures.

Conversion rates for TVs and electronics were also down, with purchases of smart TVs continuing to top the list. Most Romanian urban internet users said they spent between 1500 and 3000 RON on these types of products (47%).

In 2022, among the household appliances preferred by Romanians were robot vacuum cleaners, classic vacuum cleaners, and irons. In addition, 63% of respondents say they spent up to 1500 RON on household appliances.

Most consumers are still making Black Friday purchases out of necessity, choosing products they don’t currently own. However, this behaviour has decreased significantly since 2021, instead seeing a slight upward trend to purchase products that people might not otherwise be able to afford.

In 2022, we also see an even higher conversion rate than last year for purchasing products promoted by public figures (influencers/bloggers/vloggers).

This year, many consumers reverted to their pre-pandemic behaviour and purchased Christmas gifts during Black Friday, especially for friends or birthdays and anniversaries.

In 2022, 57% of Romanian urban internet users spent their entire planned budget on Black Friday. Thus, most shoppers spent between 500 and 5000 RON (56%) on Black Friday, significantly increasing for higher amounts (2000-5000 RON) compared to 2021.

Regarding budget sources, most Romanians continue to pay for Black Friday purchases with their savings. Compared to 2021, shoppers used significantly less of their current salary but resorted to instalment payments slightly more than in previous years.

In terms of satisfaction score, 7 out of 10 urban internet users said they were satisfied with this year’s Black Friday event, with the satisfaction score showing a positive trend after experiencing a downward trend since 2020.

By Black Friday 2022, the majority of urban internet users were happy, relaxed, and optimistic. Compared to last year, these positive emotions scored lower, possibly due to the general tension created by the current economic climate. However, consumers were more aware of their actions and more energised during the most recent Black Friday than in previous years.

The level of interest for the following Black Friday (2023) remains constant.

As Black Friday passes, Romanians start thinking about the next big event of the year: the winter holidays. For these, however, consumers are more careful and restrained with their shopping lists. Subsistence categories are still the main priorities for consumers in 2022, but there is a slight increase in their interest in experiences (holidays, accommodation in hostels, ski/snowboard equipment).