Cashback and rebates boost Black Friday shoppers' purchasing decisions
Other motivators of shoppers are early access deals (30%) and flash sales (53%).
Online shoppers in Southeast Asia during the Black Friday season are seeking additional perks not only discounts for their e-commerce experience.
A report by Milieu Insight showed that modern-day shoppers are also more cautious about huge prices and keener on added promotions. Key motivators like cashback or rebate add-ons (63%), early access deals (30%), and flash sales (53%) speak of shoppers’ willingness to accept valuable promos.
The report findings also indicated that 63% of shoppers from the region specifically targeted Black Friday for more expensive buys, with the most coming from Vietnam with 76%.
Fashion items (65%), electronic gadgets (56%), and personal care products (56%) are among the top products purchased during Black Friday.
The influx of Black Friday shoppers showed a change in shopping behaviour amongst Southeast Asian consumers. This is evident in the introduction of new payment methods, with e-wallets taking charge among shoppers in Indonesia (65%), Malaysia (58%), and Thailand (58%). However, the use of cash remains a preferred choice by 43%.
The rise of e-commerce has also contributed to the soaring reception during Black Friday. 72% of buyers prefer online shopping, with Indonesia leading by a staggering 94% and Singapore trailing closely by 81%. It truly underscores the significance of digital platforms providing convenience and accessibility for users.
Marketing also played a pivotal role in informing shoppers about Black Friday, with 69% of users finding information through social media and 54% from shopping or cashback apps.
These trends only affirm the importance of digital and e-commerce platforms defining the current shopping landscape. Thus, retailers can only be aware of where the direction goes for the most pragmatic shoppers in Southeast Asia.