Black Friday going strong for cash-strapped Brazilians

Black Friday in Brazil had a peculiar beginning – it started five years ago with online retailers only. Then, year by year, it entered the off-line world with physical stores adopting the event too.

According to Dunnhumby in 2015, Brazil’s Black Friday reached 5th place, behind the US, UK, Canada and Romania – it’s an impressive growth in a relatively short period of time.

Due to its growing popularity as more and more consumers  wait for the event, Black Friday is taking the spotlight from Christmas shopping and January sales. According to a Gfk study, the share of Black Friday sales within November, December, and January period was 29% in 2012 and last year reached 34%. In contrast, the share of Christmas and January sales shrank. Interestingly, some retailers started to extend the offers only to one day but for a whole week, which some dubbed as ‘Black week’.

However, consumers are planning to shop with caution. Brazilian consultancy Officina Sophia found that 47% of consumers will expect at least 70% off the original price if they are to buy what they are looking for. In 2014, the discount expected was 54%.

The lack of transparency on discounts offered last year made consumers more savvy when shopping too. In truly Brazilian manner, some memes (photo) joking about Black Friday discounts started to appear online – some retailers would deliberately double prices, only to halve it on the day. Data from SPC (Consumer Protection Services) showed that 44% of those planning to buy something in the event tomorrow already have been checking the deals online to see if the discounts offered are real and 54% will search the stores with the best deals.

On Thursay TV 40″ R$1500 / on Black Friday TV 40″ was R$2300 now R$1500

Brazil Black Friday in numbers

What they plan to buy:

 

  • 33% Clothes
  • 28% Shoes
  • 27% Mobile phones

 

Where they plan to buy:

  • 61% online (on Brazilian websites)
  • 36% shopping malls

Source: SPC (Consumer Protection Services)

Special thanks to Rey Damy-Castro (@Rey_Brazil)

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