Singapore – A total of 8 in 10 Southeast Asians are purposely waiting for Black Friday to fulfil their annual wish lists, a report from Milieu Insight revealed.
The data further showed that more than half, or 63%, across the region willingly wait for Black Friday to make higher-priced purchases, with Vietnam topping the list of countries at 76%.
While the report suggests a wide diversity and priority in Southeast Asia’s shopping list during the Black Friday season, fashion (65%) came out on top, followed by electronic gadgets (56%), and personal care products (56%), who both got the same results.
Interestingly enough, digital channels such as online shopping, app deals, and digital payment transactions showed promising results during the Black Friday shopping spree in the region.
The data from the report highlighted that 72% of people in the region prefer online shopping during Black Friday, showcasing a preference for the convenience and accessibility offered by digital platforms. Among the countries, Indonesia takes the lead, with a whopping 94% now favouring online shopping. Singapore is also closely behind at 81%.
While cash (43%) and cash follows (32%) maintain a significant share of the payment options, almost 65% of Indonesians, 58% of Malaysians, and 58% of Thais already showed strong preference for using e-wallets during their shopping. These numbers surpass the regional average of 50%, underscoring the prevailing regional inclination towards digital transactions.
Social media and cashback apps are also playing significant roles in encouraging more consumers in the region to do their shopping. The reports revealed that social media (69%) and shopping or cashback apps (54%) are among the ones that keep consumers informed about on-going and upcoming Black Friday deals.
This is especially important as deals such as cashback or rebates drive purchasing decisions for Southeast Asians. Cashback or rebates (63%), early access deals (30%), and flash sales (53%) are among the key motivators for consumers to purchase during the shopping season.
These factors underscore the evolving needs of Southeast Asian shoppers, who seek not only discounts but also additional perks that enhance their overall shopping experience.
The data from the Milieu Insight report shows that digital channels have a profound influence on shaping consumer behaviour and driving awareness among Southeast Asians during this shopping bonanza.
