Black Friday is undoubtedly one of the most eagerly awaited events of the year for consumers and retailers. This year, Black Friday promises to be even more significant, mainly due to the post-pandemic increase in consumer interest and confidence. A survey recently released by Google gives us valuable insights into this date and consumer trends for 2023.
Consumer confidence and Black Friday
According to data presented by Google, there has been a notable 24% increase in searches related to Black Friday compared to the previous year. This indicates a growing buying intention among Brazilians, as confidence seems to be returning to pre-pandemic levels.Gleidys Salvanha, Business Director for Retail at Google Brazil, stresses the importance of retailers adapting to a more dynamic shopping scenario. It is no longer a linear shopping journey, but a "full journey", with multiple touchpoints and up to 180,000 possible journeys for each consumer. Faced with this panorama, retailers are challenged to diversify their campaigns and pay attention to consumer signals in order to invest more assertively.
Featured segments
A more in-depth analysis of Google's research reveals that two out of three Brazilians intend to make purchases this Black Friday. The segments that arouse the most interest are:Clothing and Accessories: Leading with 46% of intentions, this sector continues to be a favorite, showing an increase over the previous year, when it stood at 38%.
Beauty and Perfumery: With an impressive jump of 18 percentage points compared to 2022, this segment now holds 41% of purchase intentions.
Shoes, Appliances and Mobile Phones: These segments remain strong on the list, with purchase intentions ranging from 35% to 38%.
However, it is crucial to understand that for each category, purchasing behavior varies. Products of greater value or complexity, such as household appliances and cell phones, tend to be researched further in advance. In contrast, items such as food and pet supplies are decided closer to the date or on the day itself.
The power of online research
With 91% of consumers researching online before making a purchase during Black Friday, the digitization of the buying process is evident. The purchasing decision is strongly influenced by what is found online. For example, while clothing and accessories have 43% indecision before purchase, cell phones, on the other hand, have a much more definite purchase intention, with only 21% indecision.Decisive factors
Price remains a dominant factor, with 24% of respondents citing it as the primary factor. However, the quality of the products and the reliability of the store, website or app are also crucial, both with 12% of the quotes. In addition, aspects such as the cost of shipping and delivery time also play a significant role in the purchasing decision.Innovation and technology: the age of Artificial Intelligence
2023 could well be the Black Friday of Artificial Intelligence (AI). Many retailers are incorporating AI to enhance the shopping experience. Rodrigo Paoletti, Performance Product Leader at Google Brazil, highlights the importance of AI in navigating complex shopping journeys, offering more accurate suggestions and optimizing search algorithms.PMax (Performance Max) campaigns have proved especially beneficial, helping retailers to increase their sales conversions by an impressive average of 18%. Other innovations, such as the "search booster" tool, allow for an increase in specific keywords for diversified businesses.
New for 2023: Google Shopping
Google Shopping is also bringing innovative features to Black Friday 2023. A new tool will allow consumers to identify products with free shipping, faster delivery and free returns. Known as "Shipping Notes", this feature aims to make the shopping process more transparent and efficient, benefiting both consumers and retailers.Black Friday 2023 promises to be an event full of opportunities, innovations and challenges. For retailers, the key to success will be understanding and adapting to dynamic consumer behavior, investing in technology and offering enriching shopping experiences. For consumers, the diversity of options and the ability to make informed choices have never been greater. In a post-pandemic scenario, Black Friday presents itself as a window on new possibilities and a reflection of the evolution of digital retail.
