As Black Friday and Cyber Monday steal the spotlight, ESW’s recent report unveils a changing landscape in global festive shopping habits, especially in December.
ESW’s research, spanning 18 countries and 18,000 consumers, indicates a notable shift with 64% of global shoppers opting to make their purchases in November. Dominated by Singles Day (11.11) and Black Friday (24.11), December sees a decline with only 23% intending to make purchases.
Major markets like China (75%), India (60%), the UK (58%), Mexico (53%), and the US (51%) prefer pre-Black Friday shopping, according to the study.
Gifting trends for 2023 highlight positive news for fashion and beauty globally. Top categories include apparel (40%), fragrance and cosmetics (37%), and toys and games (34%). Gen Z (38%) and Millennials (43%) plan significant spending on apparel, fragrance and cosmetics (37% and 44%), and accessories (36% and 38%).
The figures on consumers shopping pre-Black Friday underscore the rising influence of Singles Day, with an estimated gross merchandise volume (GMV) of $156.4 billion. Factors such as Amazon Prime’s Early Access Sale and the trend of early Black Friday deals contribute to pulling the ‘Peak’ shopping season forward.
Black Friday, generating $65.3 billion in 2022, remains the most popular holiday shopping event in Brazil, South Africa, and Italy (all 39%). However, it’s the least popular in China (3%), India (7%), and Argentina (10%). Global demand drops to 2% for Cyber Monday, rising to 23% in December.
Globally, 43% plan to spend the same for the 2023 holiday season, with 30% spending less and 27% spending more. Markets with higher planned spending include India (60%), UAE (49%), and China (42%). Conversely, France and Germany (both 40%), Australia (38%), and Canada (37%) report higher intentions to spend less.
Explore the evolving global festive shopping dynamics with ESW’s comprehensive insights.
