The expectation is for an increase of just 0.4% compared to 2023; default is one of the reasons for the low annual increase
Black Friday is held by businesses across the country this Friday (Nov 29, 2024) and is expected to generate R$ 5.22 billion, which would be an increase of 0.4% compared to R$ 5.20 billion 2023, according and (National Confederation of Commerce in Goods, Services and Tourism).
According to Fábio Bentes, economist at CNC, the increase from 2023 to 2024 is timid, but is due to the heated job market. One of the factors that causes growth to be low is default in the country. According to the /, in Brazil, which represents 41.2% of adults.
“Default leads to more expensive credit. Credit becomes more restricted and Brazilian consumers generally do not understand much about how a high interest rate impacts their consumption capacity”said Bentes.
For the economist, price developments are the main factor that influences consumers’ purchasing decisions during Black Friday. “The consumer has his eye on a product, but changes his consumption decision depending on an opportune discount for him”.
According to Bentes, Black Friday is predominantly online in Brazil. “What makes Brazilians interested in the date is the possibility of finding discounts and, in the virtual world, it is much easier to make this price comparison. But it is increasingly difficult to separate the physical from the online because the physical store also often sells online”.
The economist states that the main advantage of Black Friday for companies is that the date is a thermometer of what to expect from Christmas sales. He also explains that many companies offer promotions from the beginning of November, and not just on the last Friday of the month, because Brazilians generally receive their salary at the beginning of the month and, when it comes to the end, there tends to be no money left. to buy.
“Retailers have started to extend the promotion period beyond the last Friday of the month to avoid, for example, website access problems or delivery problems”says Giovanna Masullo, CEO of research company Ponto Map.
For 27% of respondents to a company survey, the main challenge of Black Friday is identifying whether the discounts are real. Another 20% say they are careful not to fall for scams or fraud. In other words, when adding these 2 percentages, it can be said that 47% of consumers say that, more than looking for offers, they care about avoiding problems. These percentages by Ponto Map and V-Tracker about Black Friday.
Giovanna states that there are, yes, good discounts on the date, but there are also “too much makeup”. The CEO of Ponto Map says that consumers need to be aware and research prices online, for example.
According to the company, the price variation for the same product reaches 144.8%.
“With such variation, the consumer can lose parameters and when they no longer have parameters, it becomes easier to be deceived. So, it is very important to research on the internet. Nowadays this research is easy and quick. It’s different from a time when we didn’t have the internet and consumers needed to go from store to physical store to do research”says Giovanna.
The payment method that will be most used is the credit card (37%), followed by Pix (25%), says the survey by Ponto Map. According to Giovanna, Pix may gain more space over the years, but the Credit cards continue to be preferred because they have features such as installments and benefits such as miles and cashback.
The main objective of shopping on Black Friday for 25% of consumers is to take advantage of promotions to purchase essential items (click to open in another tab):
